Credicorp (NYSE:BAP) Downgraded by Bank of America to Neutral

Bank of America downgraded shares of Credicorp (NYSE:BAP) from a buy rating to a neutral rating in a research note issued to investors on Tuesday, January 7th, Benzinga reports.

BAP has been the topic of a number of other research reports. JPMorgan Chase & Co. decreased their price objective on shares of Credicorp from $250.00 to $238.00 and set an overweight rating on the stock in a report on Friday, November 15th. ValuEngine upgraded Credicorp from a sell rating to a hold rating in a research report on Wednesday, October 30th. Finally, Zacks Investment Research upgraded Credicorp from a sell rating to a hold rating in a research report on Monday, November 18th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of Hold and an average price target of $241.00.

NYSE BAP traded up $1.62 on Tuesday, reaching $215.20. The stock had a trading volume of 444 shares, compared to its average volume of 174,854. The business’s 50-day moving average price is $211.57 and its 200 day moving average price is $213.62. The stock has a market cap of $16.83 billion, a P/E ratio of 14.45, a price-to-earnings-growth ratio of 1.18 and a beta of 0.67. Credicorp has a 12-month low of $199.83 and a 12-month high of $252.49. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.12 and a current ratio of 1.12.

Credicorp (NYSE:BAP) last announced its earnings results on Thursday, November 7th. The bank reported $4.09 earnings per share for the quarter, missing the consensus estimate of $4.25 by ($0.16). Credicorp had a return on equity of 16.30% and a net margin of 24.52%. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.07 billion. On average, sell-side analysts predict that Credicorp will post 16.37 earnings per share for the current year.

In related news, insider Abotomey Darryl sold 105,790 shares of Credicorp stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $7.21, for a total transaction of $762,745.90. Company insiders own 15.90% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the stock. Invesco Ltd. boosted its holdings in Credicorp by 1,296.9% in the second quarter. Invesco Ltd. now owns 4,333,938 shares of the bank’s stock valued at $992,083,000 after acquiring an additional 4,023,686 shares during the last quarter. Genesis Investment Management LLP acquired a new stake in Credicorp in the 3rd quarter valued at $184,519,000. Bank of Nova Scotia raised its position in Credicorp by 28.5% in the second quarter. Bank of Nova Scotia now owns 1,136,478 shares of the bank’s stock valued at $260,151,000 after purchasing an additional 252,359 shares during the period. Nuveen Asset Management LLC acquired a new position in shares of Credicorp during the second quarter worth about $32,586,000. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of Credicorp by 5.3% in the second quarter. Price T Rowe Associates Inc. MD now owns 2,737,622 shares of the bank’s stock worth $626,669,000 after buying an additional 138,936 shares during the period. Hedge funds and other institutional investors own 66.18% of the company’s stock.

About Credicorp

Credicorp Ltd., a financial services holding company, provides various financial, insurance, and health services and products primarily in Peru and internationally. It operates through Universal Banking, Insurance and Pensions, Microfinance, and Investment Banking and Wealth Management segments. The company offers deposits and current accounts, and various credits and financial instruments to individuals and legal entities.

Featured Article: Why are percentage decliners important?

Receive News & Ratings for Credicorp Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Credicorp and related companies with's FREE daily email newsletter.