Zacks Investment Research upgraded shares of Credicorp (NYSE:BAP) from a hold rating to a buy rating in a research note issued to investors on Wednesday. Zacks Investment Research currently has $239.00 price objective on the bank’s stock.
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 “
Other equities research analysts have also recently issued reports about the company. HSBC 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. ValuEngine cut Credicorp from a buy rating to a hold rating in a report on Tuesday, December 12th. Citigroup cut Credicorp from a buy rating to a neutral rating in a report on Friday, September 29th. Finally, Goldman Sachs Group reissued a buy rating and issued a $248.00 target price on shares of Credicorp in a research note on Monday, September 11th. Six equities research analysts have rated the stock with a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of Buy and a consensus target price of $225.50.
Several large investors have recently bought and sold shares of the company. Commonwealth Bank of Australia boosted its position in shares of Credicorp by 0.3% in the 2nd quarter. Commonwealth Bank of Australia now owns 7,895 shares of the bank’s stock worth $1,415,000 after purchasing an additional 27 shares during the last quarter. Guardian Capital LP lifted its holdings in Credicorp by 2.7% during the third quarter. Guardian Capital LP now owns 13,325 shares of the bank’s stock worth $2,732,000 after acquiring an additional 350 shares in the last quarter. Fred Alger Management Inc. lifted its holdings in Credicorp by 11.4% during the second quarter. Fred Alger Management Inc. now owns 4,100 shares of the bank’s stock worth $735,000 after acquiring an additional 420 shares in the last quarter. Advisor Group Inc. lifted its holdings in Credicorp by 143.0% during the second quarter. Advisor Group Inc. now owns 724 shares of the bank’s stock worth $130,000 after acquiring an additional 426 shares in the last quarter. Finally, Asset Management One Co. Ltd. lifted its holdings in Credicorp by 0.7% during the third quarter. Asset Management One Co. Ltd. now owns 92,072 shares of the bank’s stock worth $18,877,000 after acquiring an additional 600 shares in the last quarter. Institutional investors and hedge funds own 65.99% of the company’s stock.
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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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