Credicorp (NYSE:BAP) Announces Quarterly Earnings Results

Credicorp (NYSE:BAP) posted its quarterly earnings data on Thursday. The bank reported $5.88 EPS for the quarter, missing analysts’ consensus estimates of $6.61 by ($0.73), Zacks reports. The business had revenue of $1.78 billion during the quarter, compared to analysts’ expectations of $1.77 billion. Credicorp had a net margin of 23.59% and a return on equity of 19.50%.

Credicorp Stock Performance

Shares of NYSE BAP traded down $20.90 during mid-day trading on Friday, hitting $320.16. The company had a trading volume of 379,911 shares, compared to its average volume of 532,957. Credicorp has a 12 month low of $165.51 and a 12 month high of $380.20. The stock has a market cap of $25.47 billion, a price-to-earnings ratio of 14.36, a PEG ratio of 0.76 and a beta of 0.87. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.07 and a quick ratio of 1.07. The firm’s 50 day simple moving average is $313.33 and its two-hundred day simple moving average is $276.23.

Institutional Trading of Credicorp

Several large investors have recently added to or reduced their stakes in BAP. Police & Firemen s Retirement System of New Jersey raised its stake in shares of Credicorp by 1.1% during the fourth quarter. Police & Firemen s Retirement System of New Jersey now owns 8,091 shares of the bank’s stock valued at $2,322,000 after purchasing an additional 90 shares in the last quarter. State Street Corp boosted its holdings in shares of Credicorp by 5.5% in the fourth quarter. State Street Corp now owns 1,336,882 shares of the bank’s stock worth $383,685,000 after buying an additional 69,329 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in Credicorp by 4.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,065,467 shares of the bank’s stock valued at $305,789,000 after purchasing an additional 48,250 shares during the period. Wells Fargo & Company MN grew its stake in Credicorp by 347.5% during the 4th quarter. Wells Fargo & Company MN now owns 5,925 shares of the bank’s stock valued at $1,700,000 after acquiring an additional 4,601 shares in the last quarter. Finally, Korea Investment CORP increased its stake in Credicorp by 2.6% in the 4th quarter. Korea Investment CORP now owns 27,080 shares of the bank’s stock valued at $7,772,000 after buying an additional 680 shares during the period. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

BAP has been the subject of a number of analyst reports. Wall Street Zen lowered Credicorp from a “buy” rating to a “hold” rating in a research report on Saturday, December 20th. JPMorgan Chase & Co. lifted 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 reaffirmed a “buy (b)” rating on shares of Credicorp in a research note on Monday, December 29th. Finally, The Goldman Sachs Group upped 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. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Credicorp presently has an average rating of “Moderate Buy” and a consensus price target of $290.20.

About Credicorp

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.