Credicorp (NYSE:BAP) Shares Pass Above 200 Day Moving Average – Time to Sell?

Credicorp Ltd. (NYSE:BAP)’s stock price crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $178.44 and traded as high as $184.80. Credicorp shares last traded at $183.61, with a volume of 168,521 shares changing hands.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on BAP shares. Bank of America cut shares of Credicorp from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $209.00 to $208.00 in a research note on Monday, December 16th. JPMorgan Chase & Co. lifted their price target on shares of Credicorp from $200.00 to $219.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 12th. Finally, The Goldman Sachs Group increased their price objective on Credicorp from $143.00 to $160.00 and gave the company a “sell” rating in a research report on Tuesday, October 8th.

Credicorp Stock Down 0.8 %

The business’s 50 day simple moving average is $187.21 and its 200 day simple moving average is $178.44. The company has a market capitalization of $14.60 billion, a PE ratio of 10.53, a price-to-earnings-growth ratio of 0.66 and a beta of 1.12. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.66.

Institutional Investors Weigh In On Credicorp

Several hedge funds have recently made changes to their positions in BAP. Diversified Trust Co grew its stake in Credicorp by 21.7% during the 4th quarter. Diversified Trust Co now owns 2,881 shares of the bank’s stock valued at $528,000 after acquiring an additional 514 shares in the last quarter. Nordea Investment Management AB boosted its holdings in shares of Credicorp by 18.5% during the fourth quarter. Nordea Investment Management AB now owns 24,008 shares of the bank’s stock worth $4,362,000 after purchasing an additional 3,753 shares during the period. Principal Financial Group Inc. grew its position in Credicorp by 8.0% during the third quarter. Principal Financial Group Inc. now owns 347,083 shares of the bank’s stock valued at $62,812,000 after purchasing an additional 25,742 shares in the last quarter. SPX Gestao de Recursos Ltda acquired a new position in Credicorp in the 3rd quarter valued at approximately $22,285,000. Finally, World Investment Advisors LLC purchased a new stake in Credicorp in the 3rd quarter worth approximately $3,275,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

About Credicorp

Credicorp Ltd. provides various financial, insurance, and health services and products primarily in Peru and internationally. It operates through Universal Banking, Insurance and Pensions, Microfinance, and Investment Banking and Equity Management segments. The Universal Banking segment grants various credits and financial instruments to individuals and legal entities; and various deposits and current accounts.