Credicorp (NYSE: BAP) demoted by Citigroup

Credicorp (NYSE: BAP) was downgraded by Citigroup from a “neutral” rating to a “sell” rating in a research note issued to investors on Wednesday, Fly reports.

Other stock analysts have also recently published research reports on the stock. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a price target of $ 130.00 on Credicorp shares in a research note on Monday April 26. Zacks investment research downgraded Credicorp shares from a “hold” rating to a “sell” rating in a report released on Friday, May 28. Morgan Stanley downgraded Credicorp’s stock from an “overweight” rating to an “equal weight” rating and set a price target of $ 125 for the company. in a report Wednesday. HSBC reiterated a “hold” rating and set a price target of $ 137.00 on Credicorp shares in a research report released on Tuesday, April 27. Finally, Itau BBA Securities reassessed a “market performance” rating and issued a price target of $ 195.00 on Credicorp shares in a research report on Monday April 19. Four investment analysts gave the stock a sell rating, nine assigned a conservation rating and two gave the company’s stock a buy rating. The company has an average “Hold” rating and a consensus price target of $ 152.50.

BAP shares opened at $ 134.04 on Wednesday. The company has a current ratio of 1.12, a rapid ratio of 1.12 and a debt ratio of 0.87. Credicorp has a fifty-two week minimum of $ 110.47 and a fifty-two week maximum of $ 169.50. The company has a 50-day simple moving average of $ 134.38. The company has a market cap of $ 10.69 billion, a price-to-earnings ratio of 50.58 and a beta of 0.91.

Credicorp (NYSE: BAP) last released its quarterly earnings data on Monday, May 10. The bank reported earnings per share (EPS) of $ 2.26 for the quarter, missing Zacks’ consensus estimate of $ 2.36 of ($ 0.10). The company posted revenue of $ 906.95 million for the quarter, compared to analysts’ expectations of $ 993.13 million. Credicorp had a net margin of 4.73% and a return on equity of 3.05%. Equity research analysts predict Credicorp will post 10.76 EPS for the current year.

A number of large investors have recently increased or reduced their stakes in the stock. Westwood Global Investments LLC acquired a new stake in Credicorp during the first quarter valued at approximately $ 169,137,000. Dodge & Cox increased its position in Credicorp by 64.5% during the fourth quarter. Dodge & Cox now owns 2,507,096 shares of the bank valued at $ 411,214,000 after acquiring an additional 982,872 shares during the period. Aristotle Capital Management LLC acquired a new position in Credicorp shares during the fourth quarter valued at approximately $ 75,779,000. Norges Bank acquired a new position in Credicorp shares in the fourth quarter valued at approximately $ 47,885,000. Finally, BlackRock Inc. increased its stake in Credicorp by 8.2% in the fourth quarter. BlackRock Inc. now owns 3,649,344 shares of the bank valued at $ 598,568,000 after purchasing an additional 276,621 shares during the last quarter. Hedge funds and other institutional investors hold 66.03% of the company’s shares.

About Credicorp

Credicorp Ltd., a financial services holding company, provides various financial, insurance and health products and services, primarily in Peru and abroad. The company’s Universal Banking segment offers deposits and current accounts, as well as various loans and financial instruments to individuals and legal entities.

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