Credicorp Ltd. (BAP) Downgraded by HSBC Holdings PLC

HSBC Holdings PLC cut shares of Credicorp Ltd. (NYSE:BAP) from a buy rating to a hold rating in a research note issued to investors on Tuesday morning.

BAP has been the subject of a number of other research reports. Zacks Investment Research lowered Credicorp from a buy rating to a hold rating in a report on Friday, August 11th. lowered Credicorp from a buy rating to a hold rating in a report on Monday. The Goldman Sachs Group, Inc. reissued a buy rating and issued a $248.00 target price on shares of Credicorp in a report on Monday, September 11th. lowered Credicorp from a buy rating to a hold rating in a report on Tuesday. Finally, Bank of America Corporation lowered Credicorp from a buy rating to a neutral rating in a report on Monday, September 18th. Five investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of Buy and an average price target of $224.25.

Credicorp (BAP) traded up $0.93 during trading on Tuesday, hitting $203.90. The company’s stock had a trading volume of 266,400 shares, compared to its average volume of 278,161. The company has a market cap of $16,129.37, a price-to-earnings ratio of 14.75, a price-to-earnings-growth ratio of 1.17 and a beta of 0.84. Credicorp has a twelve month low of $146.03 and a twelve month high of $213.82. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 1.04.

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Several hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its stake in shares of Credicorp by 8.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 2,816,921 shares of the bank’s stock worth $505,327,000 after buying an additional 213,085 shares during the last quarter. Vanguard Group Inc. boosted its stake in shares of Credicorp by 4.1% in the 2nd quarter. Vanguard Group Inc. now owns 2,406,803 shares of the bank’s stock worth $431,756,000 after buying an additional 95,458 shares during the last quarter. FMR LLC boosted its stake in shares of Credicorp by 14.7% in the 2nd quarter. FMR LLC now owns 1,707,394 shares of the bank’s stock worth $306,289,000 after buying an additional 218,893 shares during the last quarter. Nordea Investment Management AB boosted its stake in shares of Credicorp by 1.3% in the 2nd quarter. Nordea Investment Management AB now owns 1,333,036 shares of the bank’s stock worth $239,133,000 after buying an additional 16,691 shares during the last quarter. Finally, Harding Loevner LP boosted its stake in shares of Credicorp by 1.7% in the 3rd quarter. Harding Loevner LP now owns 1,052,453 shares of the bank’s stock worth $215,774,000 after buying an additional 17,695 shares during the last quarter. Hedge funds and other institutional investors own 66.35% of the company’s stock.

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.

Analyst Recommendations for Credicorp (NYSE:BAP)

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