Credicorp (NYSE:BAP) Downgraded to “Neutral” Rating by Bank of America

Credicorp (NYSE:BAP) was downgraded by Bank of America from a “buy” rating to a “neutral” rating in a note issued to investors on Monday, MarketBeat.com reports. They currently have a $208.00 target price on the bank’s stock, down from their prior target price of $209.00. Bank of America‘s price target indicates a potential upside of 12.83% from the stock’s previous close.

BAP has been the topic of a number of other research reports. The Goldman Sachs Group boosted their price objective on shares of Credicorp from $143.00 to $160.00 and gave the stock a “sell” rating in a report on Tuesday, October 8th. JPMorgan Chase & Co. upped their price target on Credicorp from $200.00 to $219.00 and gave the stock an “overweight” rating in a report on Tuesday, November 12th.

Credicorp Price Performance

Credicorp stock opened at $184.34 on Monday. The company has a market cap of $14.66 billion, a P/E ratio of 10.58, a price-to-earnings-growth ratio of 0.66 and a beta of 1.13. Credicorp has a one year low of $144.22 and a one year high of $200.00. The business has a fifty day moving average of $188.57 and a two-hundred day moving average of $175.95. The company has a debt-to-equity ratio of 0.66, a quick ratio of 1.07 and a current ratio of 1.07.

Hedge Funds Weigh In On Credicorp

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Brown Brothers Harriman & Co. acquired a new stake in shares of Credicorp in the third quarter valued at approximately $58,000. Headlands Technologies LLC acquired a new stake in Credicorp during the 2nd quarter valued at $84,000. Atlas Capital Advisors LLC increased its position in Credicorp by 14.9% during the second quarter. Atlas Capital Advisors LLC now owns 687 shares of the bank’s stock worth $111,000 after buying an additional 89 shares in the last quarter. Dynamic Advisor Solutions LLC acquired a new position in shares of Credicorp in the third quarter worth $216,000. Finally, Sanctuary Advisors LLC purchased a new stake in shares of Credicorp in the second quarter valued at $210,000. Institutional investors and hedge funds 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.