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

Bank of America cut shares of Credicorp (NYSE:BAP) from a buy rating to a neutral rating in a research note released on Monday, Marketbeat.com reports. They currently have $208.00 price objective on the bank’s stock, down from their previous price objective of $209.00.

A number of other analysts also recently issued reports on the stock. JPMorgan Chase & Co. raised 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. The Goldman Sachs Group raised their price target on shares of Credicorp from $143.00 to $160.00 and gave the stock a “sell” rating in a research note on Tuesday, October 8th.

Credicorp Stock Down 2.6 %

BAP opened at $184.75 on Monday. The company has a debt-to-equity ratio of 0.66, a current ratio of 1.07 and a quick ratio of 1.07. The company’s 50-day moving average is $188.55 and its 200 day moving average is $175.82. Credicorp has a fifty-two week low of $144.22 and a fifty-two week high of $200.00.

Institutional Trading of Credicorp

A number of institutional investors have recently modified their holdings of the business. Brown Brothers Harriman & Co. purchased a new position in shares of Credicorp during the 3rd quarter valued at $58,000. Headlands Technologies LLC purchased a new position in shares of Credicorp in the second quarter worth $84,000. Atlas Capital Advisors LLC boosted its holdings in shares of 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 purchasing an additional 89 shares during the period. Sanctuary Advisors LLC bought a new stake in shares of Credicorp in the second quarter worth about $210,000. Finally, Dynamic Advisor Solutions LLC bought a new position in shares of Credicorp during the third quarter valued at approximately $216,000. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

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.