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

Credicorp (NYSE:BAP) was downgraded by investment analysts at Bank of America from a “buy” rating to a “neutral” rating in a research report issued to clients and investors on Monday, MarketBeat.com reports. They currently have a $208.00 price target on the bank’s stock, down from their prior price target of $209.00. Bank of America‘s target price would suggest a potential upside of 9.68% from the stock’s current price.

A number of other brokerages also recently commented on BAP. The Goldman Sachs Group upped their price objective on Credicorp from $143.00 to $160.00 and gave the stock a “sell” rating in a research note on Tuesday, October 8th. JPMorgan Chase & Co. increased their price objective on shares of Credicorp from $200.00 to $219.00 and gave the stock an “overweight” rating in a report on Tuesday, November 12th.

Credicorp Price Performance

NYSE BAP opened at $189.64 on Monday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 0.66. Credicorp has a one year low of $132.19 and a one year high of $200.00. The company has a 50-day simple moving average of $188.50 and a 200-day simple moving average of $175.67.

Institutional Trading of Credicorp

Institutional investors have recently made changes to their positions in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in 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 worth $240,138,000 after purchasing an additional 1,176,612 shares during the period. Baillie Gifford & Co. lifted its holdings in Credicorp by 22.0% in the 2nd quarter. Baillie Gifford & Co. now owns 1,632,852 shares of the bank’s stock valued at $263,428,000 after acquiring an additional 294,596 shares during the last quarter. Fourth Sail Capital LP bought a new position in shares of Credicorp during the 2nd quarter valued at about $44,156,000. Public Employees Retirement System of Ohio acquired a new position in shares of Credicorp in the 3rd quarter worth approximately $42,794,000. Finally, FMR LLC raised its holdings in shares of Credicorp by 6.1% in the 3rd quarter. FMR LLC now owns 3,446,621 shares of the bank’s stock worth $623,735,000 after purchasing an additional 199,137 shares in the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Credicorp Company Profile

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.