Credicorp (NYSE:BAP) Shares Gap Down – Should You Sell?

Credicorp Ltd. (NYSE:BAP)’s share price gapped down before the market opened on Monday . The stock had previously closed at $316.31, but opened at $302.09. Credicorp shares last traded at $306.74, with a volume of 38,923 shares changing hands.

Wall Street Analyst Weigh In

BAP has been the subject of several recent research reports. Weiss Ratings raised Credicorp from a “buy (b+)” rating to a “buy (a-)” rating in a report on Friday. Zacks Research lowered Credicorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 24th. The Goldman Sachs Group boosted their price target on Credicorp from $293.00 to $330.00 and gave the company a “neutral” rating in a report on Tuesday, February 17th. HSBC raised Credicorp from a “hold” rating to a “buy” rating and boosted their price target for the company from $320.00 to $350.00 in a report on Tuesday. Finally, UBS Group boosted their price target on Credicorp from $318.00 to $408.00 and gave the company a “buy” rating in a report on Tuesday, April 21st. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $334.60.

Credicorp Stock Up 3.6%

The company has a fifty day simple moving average of $330.64 and a 200-day simple moving average of $312.45. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.36. The firm has a market cap of $29.72 billion, a P/E ratio of 12.14, a price-to-earnings-growth ratio of 0.68 and a beta of 0.87.

Credicorp (NYSE:BAP) last released its quarterly earnings results on Sunday, February 1st. The bank reported $5.91 earnings per share (EPS) for the quarter. The business had revenue of $1.81 billion during the quarter. Credicorp had a return on equity of 22.05% and a net margin of 24.81%. On average, equities analysts anticipate that Credicorp Ltd. will post 29.09 earnings per share for the current year.

Hedge Funds Weigh In On Credicorp

A number of hedge funds have recently made changes to their positions in the business. Amundi boosted its stake in shares of Credicorp by 11.7% in the first quarter. Amundi now owns 423,450 shares of the bank’s stock worth $143,626,000 after acquiring an additional 44,469 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of Credicorp by 91.0% in the first quarter. EverSource Wealth Advisors LLC now owns 359 shares of the bank’s stock worth $122,000 after acquiring an additional 171 shares during the period. California State Teachers Retirement System boosted its stake in shares of Credicorp by 69.7% in the first quarter. California State Teachers Retirement System now owns 10,310 shares of the bank’s stock worth $3,497,000 after acquiring an additional 4,233 shares during the period. Royal Bank of Canada boosted its stake in shares of Credicorp by 0.8% in the first quarter. Royal Bank of Canada now owns 1,721,926 shares of the bank’s stock worth $584,042,000 after acquiring an additional 13,249 shares during the period. Finally, Quantinno Capital Management LP boosted its stake in shares of Credicorp by 15.0% in the first quarter. Quantinno Capital Management LP now owns 10,341 shares of the bank’s stock worth $3,508,000 after acquiring an additional 1,348 shares during the period. Institutional investors own 89.81% of the company’s stock.

Credicorp Company Profile

Credicorp Ltd. (NYSE: BAP) is a Lima-based financial services holding company that operates a diversified group of banking, insurance, and investment businesses. Established in the mid-1990s, Credicorp’s principal subsidiaries include Banco de Crédito del Perú (BCP), Mibanco (microfinance), Credicorp Capital (investment banking and asset management) and Pacífico Seguros (insurance). The company serves retail, commercial and corporate clients and is one of the largest financial conglomerates in Peru.

Through Banco de Crédito del Perú and its retail network, Credicorp provides a full suite of banking products including deposit accounts, consumer and commercial loans, mortgages, payment and transaction services, and digital banking solutions.