Bank of America Downgrades Credicorp (BAP) to Underperform

Credicorp (NYSE:BAP) was downgraded by investment analysts at Bank of America from a “neutral” rating to an “underperform” rating in a research note issued on Monday, The Fly reports.

BAP has been the topic of a number of other research reports. UBS Group upgraded Credicorp from a “market perform” rating to an “outperform” rating in a research report on Thursday, December 6th. ValuEngine upgraded Credicorp from a “hold” rating to a “buy” rating in a research report on Wednesday, January 2nd. Itau BBA Securities raised Credicorp from a “market perform” rating to an “outperform” rating and set a $274.00 price objective on the stock in a research note on Friday, December 7th. Zacks Investment Research cut Credicorp from a “hold” rating to a “sell” rating in a research note on Monday, December 24th. Finally, TheStreet raised Credicorp from a “c+” rating to a “b-” rating in a research note on Wednesday, January 23rd. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $254.50.

NYSE BAP opened at $239.61 on Monday. Credicorp has a twelve month low of $207.03 and a twelve month high of $250.40. The company has a current ratio of 1.18, a quick ratio of 1.16 and a debt-to-equity ratio of 0.85. The stock has a market cap of $19.11 billion, a price-to-earnings ratio of 16.10, a PEG ratio of 1.53 and a beta of 0.72.

Credicorp (NYSE:BAP) last released its quarterly earnings results on Thursday, November 8th. The bank reported $3.85 earnings per share for the quarter, missing the Zacks’ consensus estimate of $4.00 by ($0.15). Credicorp had a net margin of 25.05% and a return on equity of 17.24%. The firm had revenue of $982.21 million for the quarter. On average, analysts predict that Credicorp will post 16.99 EPS for the current fiscal year.

Large investors have recently made changes to their positions in the company. Teachers Advisors LLC grew its stake in shares of Credicorp by 5.0% during the third quarter. Teachers Advisors LLC now owns 33,290 shares of the bank’s stock valued at $7,426,000 after buying an additional 1,600 shares during the last quarter. TIAA CREF Investment Management LLC grew its stake in shares of Credicorp by 5.9% during the third quarter. TIAA CREF Investment Management LLC now owns 108,441 shares of the bank’s stock valued at $24,191,000 after buying an additional 6,000 shares during the last quarter. BlackRock Inc. grew its stake in shares of Credicorp by 1.5% during the third quarter. BlackRock Inc. now owns 3,545,396 shares of the bank’s stock valued at $790,907,000 after buying an additional 50,870 shares during the last quarter. Quadrant Capital Group LLC grew its stake in shares of Credicorp by 716.5% during the fourth quarter. Quadrant Capital Group LLC now owns 841 shares of the bank’s stock valued at $184,000 after buying an additional 738 shares during the last quarter. Finally, ClariVest Asset Management LLC grew its stake in shares of Credicorp by 6.4% during the third quarter. ClariVest Asset Management LLC now owns 61,498 shares of the bank’s stock valued at $13,719,000 after buying an additional 3,700 shares during the last quarter. 65.86% of the stock is currently owned by hedge funds and other institutional investors.

Credicorp Company Profile

Credicorp Ltd., through its banking and non-banking subsidiaries, provides a range of financial, insurance, and health services and products primarily in Peru and internationally. It operates through four segments: Banking, Insurance, Pension Funds, and Investment Banking. The company offers deposits, current accounts, loans, and credit facilities; and provides private pension fund management services to affiliated pensioners.

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