Credicorp (NYSE:BAP) Cut to Neutral at Bank of America

Bank of America cut shares of Credicorp (NYSE:BAP) from a buy rating to a neutral rating in a report published on Monday, MarketBeat.com reports. They currently have $208.00 target price on the bank’s stock, down from their previous target price of $209.00.

Several other research analysts have also commented on BAP. JPMorgan Chase & Co. raised their price target on shares of Credicorp from $200.00 to $219.00 and gave the company an “overweight” rating in a report on Tuesday, November 12th. The Goldman Sachs Group raised their target price on shares of Credicorp from $143.00 to $160.00 and gave the company a “sell” rating in a research note on Tuesday, October 8th.

Credicorp Stock Performance

Credicorp stock opened at $180.76 on Monday. The company has a market cap of $14.38 billion, a price-to-earnings ratio of 10.37, a price-to-earnings-growth ratio of 0.66 and a beta of 1.13. Credicorp has a 12 month low of $144.22 and a 12 month high of $200.00. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.07 and a quick ratio of 1.07. The stock’s 50-day moving average is $188.55 and its 200-day moving average is $175.99.

Hedge Funds Weigh In On Credicorp

Hedge funds and other institutional investors have recently bought and sold shares of the stock. SPX Gestao de Recursos Ltda purchased a new stake in Credicorp during the 3rd quarter worth $22,285,000. World Investment Advisors LLC purchased a new stake in shares of Credicorp during the third quarter worth about $3,275,000. Sanctuary Advisors LLC lifted its stake in shares of Credicorp by 16.9% in the third quarter. Sanctuary Advisors LLC now owns 1,467 shares of the bank’s stock worth $289,000 after acquiring an additional 212 shares in the last quarter. TT International Asset Management LTD purchased a new position in Credicorp in the third quarter valued at about $25,081,000. Finally, Barclays PLC grew its stake in Credicorp by 3.3% during the 3rd quarter. Barclays PLC now owns 218,733 shares of the bank’s stock valued at $39,584,000 after purchasing an additional 6,988 shares in the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Credicorp Company Profile

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.