Credicorp Ltd. (NYSE:BAP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday, May 31st.
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 “
Separately, Credit Suisse Group set a $196.00 price objective on shares of Credicorp and gave the stock a “buy” rating in a research report on Saturday, May 6th.
Credicorp (BAP) opened at 178.80 on Wednesday. The stock’s market cap is $14.21 billion. Credicorp has a 52 week low of $140.97 and a 52 week high of $180.92. The firm has a 50-day moving average price of $167.36 and a 200-day moving average price of $162.96.
Several large investors have recently added to or reduced their stakes in the stock. Credit Suisse AG increased its stake in Credicorp by 9.4% in the third quarter. Credit Suisse AG now owns 432,780 shares of the bank’s stock worth $65,879,000 after buying an additional 37,139 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Credicorp during the third quarter worth $4,079,000. Xact Kapitalforvaltning AB acquired a new stake in Credicorp during the third quarter worth $1,509,000. Panagora Asset Management Inc. increased its stake in Credicorp by 12.6% in the third quarter. Panagora Asset Management Inc. now owns 130,380 shares of the bank’s stock worth $19,846,000 after buying an additional 14,635 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. increased its stake in Credicorp by 92.1% in the third quarter. D. E. Shaw & Co. Inc. now owns 47,519 shares of the bank’s stock worth $7,233,000 after buying an additional 22,787 shares during the last quarter. Institutional investors own 69.23% 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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