Credicorp (NYSE:BAP) Stock Price Down 5.3% – Should You Sell?

Credicorp Ltd. (NYSE:BAP)’s share price fell 5.3% during mid-day trading on Wednesday . The stock traded as low as $345.03 and last traded at $338.4870. 61,574 shares were traded during trading, a decline of 87% from the average session volume of 463,193 shares. The stock had previously closed at $357.59.

Analyst Ratings Changes

A number of brokerages have recently commented on BAP. Zacks Research cut shares of Credicorp from a “strong-buy” rating to a “hold” rating in a report on Tuesday, February 24th. The Goldman Sachs Group raised their price target on Credicorp from $293.00 to $330.00 and gave the stock a “neutral” rating in a report on Tuesday, February 17th. Wall Street Zen cut Credicorp from a “buy” rating to a “hold” rating in a research report on Saturday, December 20th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Credicorp in a research note on Monday, December 29th. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $297.60.

Credicorp Price Performance

The company has a market cap of $25.85 billion, a price-to-earnings ratio of 13.36, a PEG ratio of 0.81 and a beta of 0.93. The company’s 50 day moving average price is $340.59 and its 200 day moving average price is $301.93. The company has a current ratio of 1.02, a quick ratio of 1.07 and a debt-to-equity ratio of 0.36.

Credicorp (NYSE:BAP) last issued 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 for the quarter. Credicorp had a net margin of 24.53% and a return on equity of 20.43%. Equities research analysts forecast that Credicorp Ltd. will post 21.9 earnings per share for the current year.

Hedge Funds Weigh In On Credicorp

A number of large investors have recently modified their holdings of BAP. Principal Financial Group Inc. lifted its holdings in Credicorp by 42.2% in the third quarter. Principal Financial Group Inc. now owns 291,175 shares of the bank’s stock valued at $77,534,000 after acquiring an additional 86,340 shares during the period. Sovran Advisors LLC acquired a new position in shares of Credicorp during the 4th quarter worth $1,358,000. Nordea Investment Management AB grew its stake in shares of Credicorp by 17.4% during the 3rd quarter. Nordea Investment Management AB now owns 27,953 shares of the bank’s stock worth $7,479,000 after purchasing an additional 4,140 shares during the period. Asset Management One Co. Ltd. increased its holdings in shares of Credicorp by 19.3% in the 3rd quarter. Asset Management One Co. Ltd. now owns 12,516 shares of the bank’s stock valued at $3,333,000 after purchasing an additional 2,023 shares in the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp lifted its stake in shares of Credicorp by 25.2% in the third quarter. Mitsubishi UFJ Trust & Banking Corp now owns 291,237 shares of the bank’s stock valued at $77,551,000 after purchasing an additional 58,690 shares during the period. 89.81% of the stock is owned by hedge funds and other institutional investors.

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.