Credicorp (NYSE:BAP) Announces Quarterly Earnings Results

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

Credicorp Trading Down 0.6%

NYSE BAP traded down $2.07 during trading hours on Thursday, reaching $341.61. The company’s stock had a trading volume of 499,332 shares, compared to its average volume of 537,559. Credicorp has a 52 week low of $165.51 and a 52 week high of $380.20. 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 stock has a market cap of $27.17 billion, a P/E ratio of 15.39, a P/E/G ratio of 0.77 and a beta of 0.87. The firm has a fifty day simple moving average of $312.05 and a 200-day simple moving average of $275.78.

Hedge Funds Weigh In On Credicorp

A number of hedge funds have recently modified their holdings of BAP. Brown Brothers Harriman & Co. acquired a new stake in Credicorp in the third quarter valued at $35,000. Raymond James Financial Inc. bought a new stake in shares of Credicorp in the 2nd quarter valued at about $38,000. Quarry LP acquired a new stake in shares of Credicorp in the third quarter valued at about $46,000. CIBC Private Wealth Group LLC raised 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 worth $52,000 after acquiring an additional 32 shares during the last quarter. Finally, Smartleaf Asset Management LLC lifted its stake in shares of Credicorp by 37.1% in the second quarter. Smartleaf Asset Management LLC now owns 244 shares of the bank’s stock worth $55,000 after acquiring an additional 66 shares during the period. Institutional investors and hedge funds own 89.81% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. The Goldman Sachs Group boosted their price objective on shares of Credicorp from $263.00 to $293.00 and gave the company a “neutral” rating in a research report on Tuesday, January 13th. JPMorgan Chase & Co. boosted their price target on Credicorp from $242.00 to $310.00 and gave the stock an “overweight” rating in a report on Friday, November 21st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Credicorp in a research note on Monday, December 29th. Finally, Wall Street Zen cut Credicorp from a “buy” rating to a “hold” rating in a research report on Saturday, December 20th. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price 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.