Credicorp (NYSE:BAP) Lowered to “Sell” at Zacks Investment Research

Zacks Investment Research downgraded shares of Credicorp (NYSE:BAP) from a hold rating to a sell rating in a research report report published on Wednesday, Zacks.com reports.

According to Zacks, “CreditCorp LTD is a limited liability company to act as a holding company, to coordinate the policy and administration of its subsidiaries and engage in investing activities. Credicorp’s principal objective is to coordinate and manage the business plans of its subsidiaries in an effort to implement universal banking services in Peru, while diversifying regionally. They conduct their financial business exclusively through its subsidiaries “

A number of other analysts also recently issued reports on the stock. ValuEngine raised shares of Credicorp from a sell rating to a hold rating in a report on Wednesday, October 30th. JPMorgan Chase & Co. decreased their target price on shares of Credicorp from $250.00 to $238.00 and set an overweight rating on the stock in a research note on Friday, November 15th. Finally, Bank of America cut shares of Credicorp from a buy rating to a neutral rating in a research report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of Hold and an average target price of $241.00.

BAP stock traded up $0.93 during trading on Wednesday, hitting $214.51. The company had a trading volume of 141,299 shares, compared to its average volume of 174,854. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.65. The firm has a 50-day moving average price of $211.57 and a 200-day moving average price of $213.62. Credicorp has a 12 month low of $199.83 and a 12 month high of $252.49. The stock has a market cap of $16.83 billion, a price-to-earnings ratio of 14.42, a PEG ratio of 1.18 and a beta of 0.67.

Credicorp (NYSE:BAP) last posted its quarterly earnings data 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). The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.07 billion. Credicorp had a return on equity of 16.30% and a net margin of 24.52%. Equities analysts expect that Credicorp will post 16.37 EPS for the current year.

In related news, insider Abotomey Darryl sold 105,790 shares of the stock in a transaction that occurred on Monday, November 11th. The shares were 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.

A number of hedge funds have recently made changes to their positions in the business. Cerebellum GP LLC increased its position in Credicorp by 23.7% in the 4th quarter. Cerebellum GP LLC now owns 2,459 shares of the bank’s stock valued at $524,000 after acquiring an additional 471 shares during the period. FNY Investment Advisers LLC grew its holdings in shares of Credicorp by 33.3% in the 4th quarter. FNY Investment Advisers LLC now owns 2,000 shares of the bank’s stock valued at $426,000 after buying an additional 500 shares during the period. Hexavest Inc. boosted its stake in Credicorp by 54.7% in the 4th quarter. Hexavest Inc. now owns 17,344 shares of the bank’s stock worth $3,697,000 after purchasing an additional 6,129 shares during the period. Squarepoint Ops LLC boosted its stake in Credicorp by 88.3% in the 3rd quarter. Squarepoint Ops LLC now owns 10,960 shares of the bank’s stock worth $2,285,000 after purchasing an additional 5,140 shares during the period. Finally, Voloridge Investment Management LLC purchased a new position in shares of Credicorp in the third quarter worth approximately $2,851,000. 66.18% of the stock is currently owned by institutional investors and hedge funds.

Credicorp Company Profile

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.

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