Credicorp (NYSE:BAP) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Credicorp (NYSE:BAP) had its target price hoisted by JPMorgan Chase & Co. from $200.00 to $219.00 in a report issued on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the bank’s stock.

Separately, The Goldman Sachs Group lifted their target price on shares of Credicorp from $143.00 to $160.00 and gave the stock a “sell” rating in a research note on Tuesday, October 8th.

Credicorp Price Performance

Shares of NYSE:BAP opened at $187.49 on Tuesday. Credicorp has a 52-week low of $116.42 and a 52-week high of $193.25. The business has a fifty day moving average of $181.49 and a two-hundred day moving average of $171.68. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.02 and a current ratio of 1.02.

Credicorp Cuts Dividend

The business also recently disclosed an annual dividend, which was paid on Friday, October 18th. Investors of record on Monday, September 23rd were issued a $2.9084 dividend. The ex-dividend date of this dividend was Monday, September 23rd. This represents a yield of 3.8%. Credicorp’s dividend payout ratio (DPR) is currently 53.30%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Fisher Asset Management LLC boosted its position in shares of Credicorp by 307.8% during the 3rd quarter. Fisher Asset Management LLC now owns 49,973 shares of the bank’s stock worth $9,044,000 after purchasing an additional 37,718 shares during the period. Cerity Partners LLC boosted its position in shares of Credicorp by 3.8% during the third quarter. Cerity Partners LLC now owns 3,068 shares of the bank’s stock worth $555,000 after buying an additional 111 shares during the period. Citigroup Inc. grew its stake in shares of Credicorp by 4.7% in the third quarter. Citigroup Inc. now owns 197,889 shares of the bank’s stock valued at $35,812,000 after buying an additional 8,924 shares in the last quarter. Massachusetts Financial Services Co. MA raised its holdings in shares of Credicorp by 0.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 3,042,882 shares of the bank’s stock valued at $550,670,000 after buying an additional 13,868 shares during the period. Finally, Pzena Investment Management LLC lifted its stake in Credicorp by 9.8% during the 3rd quarter. Pzena Investment Management LLC now owns 1,026,833 shares of the bank’s stock worth $185,826,000 after acquiring an additional 91,877 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

About Credicorp

Credicorp Ltd. 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 Equity Management segments. The Universal Banking segment grants various credits and financial instruments to individuals and legal entities; and various deposits and current accounts.