Key Points
- Credicorp CEO Diego Antonio Cavero sold 3,500 shares on June 5 at an average price of $319, totaling about $1.12 million. After the sale, he still held 7,307 shares, a 32.39% reduction in his ownership.
- Credicorp stock was up 9.3% and opened at $349.71, with the company trading near its 52-week high of $380.20. The bank currently has a market capitalization of about $33.01 billion.
- Analysts remain broadly positive on the stock, with HSBC and JPMorgan both raising price targets; MarketBeat shows a Moderate Buy consensus and an average target price of $356.40. Institutional investors also own a large majority of the shares, at 89.81%.
Credicorp Ltd. (NYSE:BAP - Get Free Report) CEO Diego Antonio Cavero sold 3,500 shares of the company's stock in a transaction on Friday, June 5th. The stock was sold at an average price of $319.00, for a total value of $1,116,500.00. Following the sale, the chief executive officer owned 7,307 shares of the company's stock, valued at $2,330,933. The trade was a 32.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Credicorp Stock Up 9.3%
NYSE BAP opened at $349.71 on Wednesday. The business has a fifty day moving average price of $332.79 and a two-hundred day moving average price of $320.89. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.02 and a quick ratio of 1.02. Credicorp Ltd. has a fifty-two week low of $212.31 and a fifty-two week high of $380.20. The stock has a market capitalization of $33.01 billion, a PE ratio of 13.48, a PEG ratio of 0.69 and a beta of 0.89.
Credicorp (NYSE:BAP - Get Free Report) last released its earnings results on Sunday, February 1st. The bank reported $5.91 earnings per share for the quarter. Credicorp had a return on equity of 20.61% and a net margin of 24.81%.The firm had revenue of $1.81 billion during the quarter. Equities analysts expect that Credicorp Ltd. will post 29.61 earnings per share for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of research analysts have recently commented on the company. HSBC upgraded Credicorp from a "hold" rating to a "buy" rating and increased their price target for the company from $320.00 to $350.00 in a research note on Tuesday, May 19th. Weiss Ratings cut Credicorp from a "buy (a-)" rating to a "buy (b)" rating in a research note on Friday, May 29th. Zacks Research cut Credicorp from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, February 24th. JPMorgan Chase & Co. increased their price target on Credicorp from $412.00 to $415.00 and gave the company an "overweight" rating in a research note on Thursday, May 28th. Finally, The Goldman Sachs Group increased their price target on Credicorp from $293.00 to $330.00 and gave the company a "neutral" rating in a research note on Tuesday, February 17th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $356.40.
Read Our Latest Report on Credicorp
Institutional Trading of Credicorp
A number of institutional investors and hedge funds have recently bought and sold shares of BAP. Capital World Investors acquired a new stake in Credicorp in the third quarter valued at $434,014,000. Norges Bank acquired a new stake in Credicorp in the fourth quarter valued at $150,814,000. William Blair Investment Management LLC increased its holdings in Credicorp by 71.6% in the third quarter. William Blair Investment Management LLC now owns 820,073 shares of the bank's stock valued at $218,369,000 after purchasing an additional 342,308 shares during the period. PFA Pension Forsikringsaktieselskab acquired a new stake in Credicorp in the fourth quarter valued at $89,754,000. Finally, Mondrian Investment Partners LTD acquired a new stake in Credicorp in the third quarter valued at $78,211,000. 89.81% of the stock is currently owned by institutional investors and hedge funds.
About Credicorp
(
Get Free Report)
Credicorp Ltd. (NYSE: BAP) is a Lima-based financial services holding company that operates a diversified group of banking, insurance, and investment businesses. Established in the mid-1990s, Credicorp's principal subsidiaries include Banco de Crédito del Perú (BCP), Mibanco (microfinance), Credicorp Capital (investment banking and asset management) and Pacífico Seguros (insurance). The company serves retail, commercial and corporate clients and is one of the largest financial conglomerates in Peru.
Through Banco de Crédito del Perú and its retail network, Credicorp provides a full suite of banking products including deposit accounts, consumer and commercial loans, mortgages, payment and transaction services, and digital banking solutions.
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