Credicorp (NYSE:BAP) Releases Quarterly Earnings Results, Misses Expectations By $0.60 EPS

Credicorp (NYSE:BAP) announced its earnings results on Thursday. The bank reported $5.88 earnings per share for the quarter, missing analysts’ consensus estimates of $6.48 by ($0.60), Zacks reports. Credicorp had a return on equity of 19.50% and a net margin of 23.59%.

Credicorp Stock Down 0.6%

NYSE BAP traded down $2.07 during mid-day trading on Thursday, hitting $341.61. The company’s stock had a trading volume of 499,332 shares, compared to its average volume of 537,559. The firm has a market capitalization of $27.17 billion, a price-to-earnings ratio of 15.39, a PEG ratio of 0.77 and a beta of 0.87. The company’s 50 day simple moving average is $312.05 and its 200 day simple moving average is $275.78. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 0.63. Credicorp has a twelve month low of $165.51 and a twelve month high of $380.20.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Brown Brothers Harriman & Co. acquired a new stake in shares of Credicorp in the 3rd quarter worth about $35,000. Raymond James Financial Inc. bought a new position in shares of Credicorp in the second quarter valued at approximately $38,000. Quarry LP bought a new position in shares of Credicorp in the third quarter valued at approximately $46,000. CIBC Private Wealth Group LLC boosted its position in shares of Credicorp by 21.6% during the fourth quarter. CIBC Private Wealth Group LLC now owns 180 shares of the bank’s stock valued at $52,000 after buying an additional 32 shares during the last quarter. Finally, Smartleaf Asset Management LLC grew its holdings in Credicorp by 37.1% during the second quarter. Smartleaf Asset Management LLC now owns 244 shares of the bank’s stock worth $55,000 after buying an additional 66 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on BAP. JPMorgan Chase & Co. boosted their price objective on Credicorp from $242.00 to $310.00 and gave the company an “overweight” rating in a research note on Friday, November 21st. Weiss Ratings reiterated a “buy (b)” rating on shares of Credicorp in a report on Monday, December 29th. The Goldman Sachs Group increased their price target on Credicorp from $263.00 to $293.00 and gave the stock a “neutral” rating in a report on Tuesday, January 13th. Finally, Wall Street Zen lowered shares of Credicorp from a “buy” rating to a “hold” rating in a research note on Saturday, December 20th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Credicorp has an average rating of “Moderate Buy” and an average target price of $290.20.

Credicorp Company Profile

Credicorp Ltd. (NYSE: BAP) is a Lima-based financial services holding company that operates a diversified group of banking, insurance, and investment businesses. Established in the mid-1990s, Credicorp’s principal subsidiaries include Banco de Crédito del Perú (BCP), Mibanco (microfinance), Credicorp Capital (investment banking and asset management) and Pacífico Seguros (insurance). The company serves retail, commercial and corporate clients and is one of the largest financial conglomerates in Peru.

Through Banco de Crédito del Perú and its retail network, Credicorp provides a full suite of banking products including deposit accounts, consumer and commercial loans, mortgages, payment and transaction services, and digital banking solutions.