The Goldman Sachs Group Boosts Credicorp (NYSE:BAP) Price Target to $160.00

Credicorp (NYSE:BAP) had its price target raised by The Goldman Sachs Group from $143.00 to $160.00 in a report published on Tuesday morning, Marketbeat.com reports. The Goldman Sachs Group currently has a sell rating on the bank’s stock.

Credicorp Price Performance

Shares of Credicorp stock opened at $185.10 on Tuesday. The firm has a fifty day simple moving average of $173.24 and a 200-day simple moving average of $168.73. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.54. Credicorp has a 1-year low of $116.42 and a 1-year high of $186.36. The stock has a market capitalization of $14.72 billion, a price-to-earnings ratio of 10.79, a PEG ratio of 0.60 and a beta of 1.14.

Credicorp (NYSE:BAP) last issued its quarterly earnings data on Thursday, August 8th. The bank reported $4.49 earnings per share for the quarter, missing analysts’ consensus estimates of $4.64 by ($0.15). Credicorp had a return on equity of 14.86% and a net margin of 19.31%. The firm had revenue of $1.37 billion during the quarter, compared to analyst estimates of $1.32 billion. On average, sell-side analysts expect that Credicorp will post 18.86 earnings per share for the current year.

Credicorp Cuts Dividend

The business also recently announced an annual dividend, which will be paid on Friday, October 18th. Investors of record on Monday, September 23rd will be given a dividend of $2.9084 per share. This represents a yield of 3.8%. The ex-dividend date is Monday, September 23rd. Credicorp’s dividend payout ratio (DPR) is currently 55.07%.

Hedge Funds Weigh In On Credicorp

A number of institutional investors and hedge funds have recently bought and sold shares of BAP. Seven Eight Capital LP bought a new position in Credicorp during the fourth quarter worth $705,000. Compass Group LLC increased its position in Credicorp by 25.0% during the fourth quarter. Compass Group LLC now owns 37,500 shares of the bank’s stock worth $5,622,000 after acquiring an additional 7,500 shares during the period. Breakout Capital Partners LP bought a new stake in Credicorp in the 4th quarter valued at $15,289,000. V Square Quantitative Management LLC bought a new stake in Credicorp in the 4th quarter valued at $337,000. Finally, Goldman Sachs Group Inc. increased its holdings in Credicorp by 139.9% in the 4th quarter. Goldman Sachs Group Inc. now owns 741,399 shares of the bank’s stock valued at $111,158,000 after buying an additional 432,301 shares during the period. Institutional investors own 89.81% of the company’s stock.

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.