Credicorp (NYSE:BAP) Releases Earnings Results, Beats Estimates By $0.12 EPS

Credicorp (NYSE:BAP) issued its earnings results on Thursday. The bank reported $6.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.05 by $0.12, Zacks reports. The business had revenue of $1.48 billion during the quarter, compared to analysts’ expectations of $1.71 billion. Credicorp had a return on equity of 17.94% and a net margin of 23.22%.

Credicorp Price Performance

NYSE BAP opened at $255.13 on Friday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.49. The company has a market cap of $20.29 billion, a PE ratio of 12.09, a PEG ratio of 0.71 and a beta of 1.09. Credicorp has a 1 year low of $165.51 and a 1 year high of $280.88. The stock’s 50-day moving average price is $260.94 and its two-hundred day moving average price is $238.13.

Institutional Trading of Credicorp

Several institutional investors have recently made changes to their positions in BAP. Fiduciary Trust Co boosted its position in Credicorp by 1.8% during the third quarter. Fiduciary Trust Co now owns 2,849 shares of the bank’s stock valued at $759,000 after purchasing an additional 50 shares during the last quarter. Smartleaf Asset Management LLC grew its holdings in Credicorp by 37.1% in the 2nd quarter. Smartleaf Asset Management LLC now owns 244 shares of the bank’s stock valued at $55,000 after buying an additional 66 shares during the last quarter. California State Teachers Retirement System grew its stake in shares of Credicorp by 0.9% in the third quarter. California State Teachers Retirement System now owns 7,661 shares of the bank’s stock worth $2,040,000 after acquiring an additional 68 shares during the last quarter. Orion Porfolio Solutions LLC increased its holdings in shares of Credicorp by 1.4% during the 2nd quarter. Orion Porfolio Solutions LLC now owns 7,244 shares of the bank’s stock worth $1,619,000 after purchasing an additional 98 shares during the period. Finally, Captrust Financial Advisors increased its stake in Credicorp by 2.6% during the second quarter. Captrust Financial Advisors now owns 4,756 shares of the bank’s stock valued at $1,063,000 after acquiring an additional 120 shares during the period. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BAP has been the subject of several recent analyst reports. Wall Street Zen upgraded Credicorp from a “hold” rating to a “buy” rating in a research note on Friday, August 22nd. The Goldman Sachs Group upgraded shares of Credicorp from a “sell” rating to a “neutral” rating and raised their price target for the stock from $174.00 to $225.00 in a research report on Thursday, July 24th. Weiss Ratings restated a “buy (b+)” rating on shares of Credicorp in a research report on Tuesday, October 14th. HSBC lowered shares of Credicorp from a “buy” rating to a “hold” rating and boosted their target price for the company from $225.00 to $255.00 in a research note on Friday, September 5th. Finally, UBS Group raised their price target on Credicorp from $257.00 to $318.00 and gave the company a “buy” rating in a report on Tuesday, September 16th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Credicorp has a consensus rating of “Moderate Buy” and a consensus price target of $256.20.

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.