Credicorp (NYSE:BAP) Announces Earnings Results

Credicorp (NYSE:BAP) issued its quarterly earnings results on Thursday. The bank reported $5.88 earnings per share (EPS) for the quarter, missing the consensus estimate of $6.61 by ($0.73), Zacks reports. The business had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.77 billion. Credicorp had a return on equity of 21.54% and a net margin of 24.53%.

Credicorp Trading Down 3.4%

BAP opened at $329.36 on Friday. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.07 and a current ratio of 1.07. Credicorp has a one year low of $165.51 and a one year high of $380.20. The company has a market cap of $26.20 billion, a P/E ratio of 13.55, a PEG ratio of 0.75 and a beta of 0.87. The business’s 50-day simple moving average is $314.46 and its 200-day simple moving average is $276.89.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the company. JPMorgan Chase & Co. upped their price objective on Credicorp from $242.00 to $310.00 and gave the stock an “overweight” rating in a research report on Friday, November 21st. 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. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Credicorp in a research report on Monday, December 29th. Finally, Wall Street Zen downgraded Credicorp from a “buy” rating to a “hold” rating in a research report on Saturday, December 20th. One research 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. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $290.20.

Hedge Funds Weigh In On Credicorp

Several hedge funds have recently added to or reduced their stakes in BAP. Brown Brothers Harriman & Co. purchased a new stake in shares of Credicorp during the 3rd quarter worth approximately $35,000. Raymond James Financial Inc. acquired a new stake in Credicorp during the 2nd quarter worth $38,000. Kestra Advisory Services LLC purchased a new stake in Credicorp in the fourth quarter valued at $42,000. Quarry LP acquired a new position in Credicorp in the third quarter valued at $46,000. Finally, CIBC Private Wealth Group LLC boosted its stake in Credicorp by 21.6% in the fourth quarter. CIBC Private Wealth Group LLC now owns 180 shares of the bank’s stock valued at $52,000 after acquiring an additional 32 shares in the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

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.