JPMorgan Chase & Co. Lowers Credicorp (BAP) to Neutral

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JPMorgan Chase & Co. cut shares of Credicorp (NYSE:BAP) from an overweight rating to a neutral rating in a research note released on Monday, Marketbeat reports. They currently have $240.00 target price on the bank’s stock, up from their previous target price of $232.00.

A number of other analysts have also weighed in on BAP. ValuEngine lowered Credicorp from a buy rating to a hold rating in a report on Friday, February 8th. TheStreet upgraded Credicorp from a c+ rating to a b- rating in a report on Wednesday, January 23rd. Zacks Investment Research upgraded Credicorp from a sell rating to a hold rating in a report on Monday, December 31st. Itau BBA Securities upgraded Credicorp from a market perform rating to an outperform rating and set a $274.00 target price for the company in a report on Friday, December 7th. Finally, UBS Group upgraded Credicorp from a market perform rating to an outperform rating in a report on Thursday, December 6th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of Hold and an average price target of $254.50.

Shares of NYSE BAP opened at $240.14 on Monday. The company has a quick ratio of 1.16, a current ratio of 1.18 and a debt-to-equity ratio of 0.85. The company has a market capitalization of $19.11 billion, a P/E ratio of 16.14, a PEG ratio of 1.53 and a beta of 0.72. Credicorp has a 52-week low of $207.41 and a 52-week high of $250.40.

Institutional investors have recently bought and sold shares of the business. Federated Investors Inc. PA acquired a new position in shares of Credicorp during the third quarter worth $135,701,000. Baillie Gifford & Co. increased its position in shares of Credicorp by 13.6% during the third quarter. Baillie Gifford & Co. now owns 2,000,927 shares of the bank’s stock worth $446,366,000 after purchasing an additional 238,797 shares in the last quarter. Bank of Nova Scotia increased its position in shares of Credicorp by 27.7% during the fourth quarter. Bank of Nova Scotia now owns 826,880 shares of the bank’s stock worth $183,295,000 after purchasing an additional 179,314 shares in the last quarter. Investec Asset Management LTD increased its position in shares of Credicorp by 65.8% during the fourth quarter. Investec Asset Management LTD now owns 235,781 shares of the bank’s stock worth $52,266,000 after purchasing an additional 93,539 shares in the last quarter. Finally, California Public Employees Retirement System increased its position in shares of Credicorp by 25.0% during the fourth quarter. California Public Employees Retirement System now owns 363,266 shares of the bank’s stock worth $80,525,000 after purchasing an additional 72,570 shares in the last quarter. Institutional investors own 65.86% of the company’s stock.

About Credicorp

Credicorp Ltd., through its banking and non-banking subsidiaries, provides a range of financial, insurance, and health services and products primarily in Peru and internationally. It operates through four segments: Banking, Insurance, Pension Funds, and Investment Banking. The company offers deposits, current accounts, loans, and credit facilities; and provides private pension fund management services to affiliated pensioners.

Further Reading: Straddles

Analyst Recommendations for Credicorp (NYSE:BAP)

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