JPMorgan Chase & Co. Raises Credicorp (NYSE:BAP) Price Target to $219.00

Credicorp (NYSE:BAP) had its target price upped by JPMorgan Chase & Co. from $200.00 to $219.00 in a research note published on Tuesday,Benzinga reports. The brokerage currently has an overweight rating on the bank’s stock.

Separately, The Goldman Sachs Group lifted their target price on Credicorp from $143.00 to $160.00 and gave the stock a “sell” rating in a research report on Tuesday, October 8th.

Credicorp Trading Down 0.1 %

Shares of BAP stock traded down $0.15 during trading hours on Tuesday, reaching $188.41. 7,459 shares of the company’s stock were exchanged, compared to its average volume of 228,684. The company’s 50 day moving average is $182.12 and its two-hundred day moving average is $171.93. Credicorp has a 1 year low of $122.72 and a 1 year high of $193.25. The company has a debt-to-equity ratio of 0.54, a quick ratio of 1.02 and a current ratio of 1.02.

Credicorp Cuts Dividend

The company also recently disclosed an annual dividend, which was paid on Friday, October 18th. Investors of record on Monday, September 23rd were paid a dividend of $2.9084 per share. This represents a yield of 3.8%. The ex-dividend date of this dividend was Monday, September 23rd. Credicorp’s payout ratio is 53.30%.

Hedge Funds Weigh In On Credicorp

A number of institutional investors have recently bought and sold shares of the business. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Credicorp by 782.7% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,326,947 shares of the bank’s stock valued at $240,138,000 after buying an additional 1,176,612 shares during the period. Ninety One UK Ltd acquired a new position in shares of Credicorp during the second quarter worth $50,235,000. Baillie Gifford & Co. increased its holdings in shares of Credicorp by 22.0% during the second quarter. Baillie Gifford & Co. now owns 1,632,852 shares of the bank’s stock worth $263,428,000 after buying an additional 294,596 shares in the last quarter. Fourth Sail Capital LP acquired a new position in shares of Credicorp during the second quarter worth $44,156,000. Finally, FMR LLC increased its holdings in Credicorp by 6.1% in the third quarter. FMR LLC now owns 3,446,621 shares of the bank’s stock valued at $623,735,000 after purchasing an additional 199,137 shares during the period. 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.