Credicorp (NYSE:BAP) Posts Quarterly Earnings Results

Credicorp (NYSE:BAP) released its quarterly earnings data on Monday. The bank reported $7.06 EPS for the quarter, missing analysts’ consensus estimates of $7.25 by ($0.19), FiscalAI reports. The company had revenue of $2 billion during the quarter, compared to the consensus estimate of $1.92 billion. Credicorp had a net margin of 25.04% and a return on equity of 20.52%.

Credicorp Stock Up 2.2%

Shares of BAP stock traded up $7.78 on Monday, hitting $355.71. 325,161 shares of the stock were exchanged, compared to its average volume of 412,815. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $33.57 billion, a P/E ratio of 13.18, a price-to-earnings-growth ratio of 0.67 and a beta of 0.89. The business has a 50-day moving average of $376.00 and a 200 day moving average of $359.91. Credicorp has a fifty-two week low of $230.45 and a fifty-two week high of $413.24.

Analysts Set New Price Targets

Several research firms have weighed in on BAP. JPMorgan Chase & Co. upgraded shares of Credicorp from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $453.00 to $482.00 in a report on Wednesday, September 16th. The Goldman Sachs Group raised their target price on shares of Credicorp from $329.00 to $374.00 and gave the stock a “neutral” rating in a report on Thursday, July 16th. Weiss Ratings lowered shares of Credicorp from a “buy (a-)” rating to a “buy (b+)” rating in a research note on Wednesday. Finally, UBS Group upped their price target on shares of Credicorp from $412.00 to $473.00 and gave the company a “buy” rating in a report on Thursday, August 20th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat.com, Credicorp presently has a consensus rating of “Moderate Buy” and an average price target of $431.80.

About Credicorp

Credicorp is a financial services holding company based in Lima, Peru. Through its subsidiaries, it provides commercial and retail banking, insurance, pension-fund management, investment banking, wealth management, microfinance and digital payment services.

Its businesses include Banco de Crédito del Perú (BCP), the country’s largest bank; Pacífico Seguros; pension administrator Prima AFP; investment and wealth-management firm Credicorp Capital; and microfinance bank Mibanco. BCP traces its history to 1889, when it was established as Banco Italiano.

Credicorp’s operations are centered in Peru, with additional activities in other Latin American markets, particularly through Credicorp Capital.