Credicorp (BAP) Upgraded to “Buy” by Zacks Investment Research
Credicorp (NYSE:BAP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a note issued to investors on Wednesday, January 3rd. The firm currently has a $239.00 target price on the bank’s stock. Zacks Investment Research‘s target price points to a potential upside of 0.81% from the stock’s previous close.
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 “
BAP has been the subject of several other research reports. cut Credicorp from a “buy” rating to a “hold” rating in a report on Monday, November 13th. Goldman Sachs Group reaffirmed a “buy” rating and issued a $248.00 price target on shares of Credicorp in a report on Monday, September 11th. cut Credicorp from a “buy” rating to a “hold” rating in a report on Tuesday, November 14th. Bank of America cut Credicorp from a “buy” rating to a “neutral” rating in a report on Monday, September 18th. Finally, Citigroup cut Credicorp from a “buy” rating to a “neutral” rating in a report on Friday, September 29th. Seven research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $225.50.
Several hedge funds have recently bought and sold shares of BAP. Advisor Group Inc. grew its position in Credicorp by 143.0% in the second quarter. Advisor Group Inc. now owns 724 shares of the bank’s stock worth $130,000 after acquiring an additional 426 shares during the period. Cerebellum GP LLC purchased a new position in Credicorp in the fourth quarter worth approximately $134,000. Blair William & Co. IL purchased a new position in Credicorp in the second quarter worth approximately $239,000. Quantitative Systematic Strategies LLC purchased a new position in Credicorp in the third quarter worth approximately $251,000. Finally, High Pointe Capital Management LLC purchased a new position in Credicorp in the third quarter worth approximately $268,000. Institutional investors and hedge funds own 66.18% of the company’s stock.
Credicorp Company Profile
Credicorp Ltd. is a financial services holding company in Peru. The Company has four operating segments based on its products and services, which include banking, insurance, pension funds and investment banking. Its operating subsidiaries include Banco de Credito del Peru; Atlantic Security Bank, which it holds through Atlantic Security Holding Corporation; El Pacifico-Peruano Suiza Compania de Seguros y Reaseguros (Grupo Pacifico); Prima AFP SA, and Credicorp Capital Ltd.
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