Traders Buy Shares of Credicorp (BAP) on Weakness

Investors bought shares of Credicorp Ltd. (NYSE:BAP) on weakness during trading hours on Thursday. $78.87 million flowed into the stock on the tick-up and $37.86 million flowed out of the stock on the tick-down, for a money net flow of $41.01 million into the stock. Of all equities tracked, Credicorp had the 20th highest net in-flow for the day. Credicorp traded down ($11.39) for the day and closed at $196.74

Several equities research analysts have recently commented on the stock. ValuEngine cut shares of Credicorp from a “buy” rating to a “hold” rating in a research report on Tuesday. HSBC cut shares of Credicorp from a “buy” rating to a “hold” rating in a report on Tuesday, November 14th. cut shares of Credicorp from a “buy” rating to a “hold” rating in a report on Tuesday, November 14th. cut shares of Credicorp from a “buy” rating to a “hold” rating in a report on Monday, November 13th. Finally, Zacks Investment Research upgraded shares of Credicorp from a “hold” rating to a “buy” rating and set a $234.00 price objective for the company in a report on Friday, November 10th. Six investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. Credicorp presently has a consensus rating of “Buy” and a consensus price target of $224.25.

The firm has a market capitalization of $16,736.50, a price-to-earnings ratio of 15.31, a PEG ratio of 1.20 and a beta of 0.86. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.22 and a current ratio of 1.22.

A number of hedge funds and other institutional investors have recently modified their holdings of BAP. American Century Companies Inc. grew its holdings in Credicorp by 710.5% during the third quarter. American Century Companies Inc. now owns 578,112 shares of the bank’s stock valued at $118,525,000 after purchasing an additional 506,784 shares during the period. FMR LLC lifted its stake in Credicorp by 14.7% in the second quarter. FMR LLC now owns 1,707,394 shares of the bank’s stock valued at $306,289,000 after buying an additional 218,893 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Credicorp by 8.2% in the second quarter. JPMorgan Chase & Co. now owns 2,816,921 shares of the bank’s stock valued at $505,327,000 after buying an additional 213,085 shares in the last quarter. Principal Financial Group Inc. lifted its stake in Credicorp by 67.4% in the third quarter. Principal Financial Group Inc. now owns 476,334 shares of the bank’s stock valued at $97,658,000 after buying an additional 191,853 shares in the last quarter. Finally, APG Asset Management N.V. lifted its stake in Credicorp by 106.0% in the third quarter. APG Asset Management N.V. now owns 364,345 shares of the bank’s stock valued at $74,698,000 after buying an additional 187,500 shares in the last quarter. Hedge funds and other institutional investors own 66.16% of the company’s stock.

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About Credicorp

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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