Credicorp (NYSE:BAP) Raised to “Buy” at HSBC

HSBC upgraded shares of Credicorp (NYSE:BAP) from a hold rating to a buy rating in a research note issued to investors on Tuesday, BenzingaRatingsTable reports. HSBC currently has $250.00 price target on the bank’s stock, up from their prior price target of $245.00.

BAP has been the subject of several other reports. ValuEngine cut shares of Credicorp from a hold rating to a sell rating in a research note on Thursday, August 1st. Zacks Investment Research upgraded shares of Credicorp from a sell rating to a hold rating in a research note on Thursday, May 9th. Finally, JPMorgan Chase & Co. upgraded shares of Credicorp from a neutral rating to an overweight rating and lifted their price objective for the company from $232.00 to $250.00 in a research note on Tuesday. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus target price of $258.00.

BAP stock opened at $202.18 on Tuesday. The company has a quick ratio of 1.13, a current ratio of 1.09 and a debt-to-equity ratio of 0.59. Credicorp has a 52 week low of $200.33 and a 52 week high of $252.49. The firm has a 50 day moving average of $225.39 and a 200 day moving average of $232.01. The stock has a market capitalization of $16.58 billion, a PE ratio of 13.56, a price-to-earnings-growth ratio of 0.97 and a beta of 0.70.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Marshall Wace North America L.P. acquired a new stake in Credicorp during the 1st quarter valued at approximately $72,000. Parallel Advisors LLC lifted its stake in shares of Credicorp by 24.2% in the 1st quarter. Parallel Advisors LLC now owns 328 shares of the bank’s stock valued at $79,000 after purchasing an additional 64 shares during the period. Huntington National Bank lifted its stake in shares of Credicorp by 29.7% in the 2nd quarter. Huntington National Bank now owns 529 shares of the bank’s stock valued at $121,000 after purchasing an additional 121 shares during the period. Marshall Wace LLP acquired a new position in shares of Credicorp in the 1st quarter valued at $201,000. Finally, Campbell & CO Investment Adviser LLC acquired a new position in shares of Credicorp in the 1st quarter valued at $207,000. Institutional investors and hedge funds own 67.53% of the company’s stock.

About Credicorp

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.

Further Reading: Stock Symbol

Analyst Recommendations for Credicorp (NYSE:BAP)

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