The Credicorp Ltd. (BAP) Lowered to Hold at Zacks Investment Research

The Credicorp Ltd. (BAP) Lowered to Hold at Zacks Investment Research

According to Zacks, “CreditCorp LTD is a limited liability company to act as a holding company, to coordinate the policy and administration of its subsidiaries and engage in investing activities. Credicorp’s principal objective is to coordinate and manage the business plans of its subsidiaries in an effort to implement universal banking services in Peru, while diversifying regionally. They conduct their financial business exclusively through its subsidiaries “

Zacks Investment Research lowered shares of Credicorp Ltd. (NYSE:BAP) from a buy rating to a hold rating in a research report report published on Tuesday, May 23rd.

Separately, Credit Suisse Group AG set a $196.00 price objective on shares of Credicorp and gave the stock a buy rating in a research note on Saturday, May 6th. Credicorp (BAP) opened at 167.76 on Tuesday. The stock has a 50 day moving average price of $162.19 and a 200 day moving average price of $161.53. The stock’s market cap is $13.33 billion. Credicorp has a 1-year low of $140.97 and a 1-year high of $176.24.

Separately, Credit Suisse Group AG set a $196.00 price objective on shares of Credicorp and gave the stock a buy rating in a research note on Saturday, May 6th. A number of hedge funds have recently made changes to their positions in BAP. World Asset Management Inc raised its position in shares of Credicorp by 7.9% in the third quarter. World Asset Management Inc now owns 5,321 shares of the bank’s stock worth $810,000 after buying an additional 389 shares during the period. APG Asset Management N.V. raised its position in shares of Credicorp by 29.1% in the third quarter. APG Asset Management N.V. now owns 293,445 shares of the bank’s stock worth $44,668,000 after buying an additional 66,228 shares during the period. Quantbot Technologies LP raised its position in shares of Credicorp by 205.0% in the third quarter. Quantbot Technologies LP now owns 5,169 shares of the bank’s stock worth $786,000 after buying an additional 3,474 shares during the period. Cidel Asset Management Inc. raised its position in shares of Credicorp by 4.9% in the third quarter. Cidel Asset Management Inc. now owns 110,173 shares of the bank’s stock worth $16,771,000 after buying an additional 5,114 shares during the period. Finally, GAM Holding AG raised its position in shares of Credicorp by 35.6% in the third quarter. GAM Holding AG now owns 53,300 shares of the bank’s stock worth $8,114,000 after buying an additional 14,000 shares during the period. Hedge funds and other institutional investors own 63.91% 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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “BAP”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

Get a free copy of the Zacks research report on Credicorp (BAP) For more information about research offerings from Zacks Investment Research, visit Zacks.com

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