Credicorp (NYSE:BAP) Stock Crosses Above 200 Day Moving Average After Earnings Miss

Shares of Credicorp Ltd. (NYSE:BAP) passed above its 200-day moving average during trading on Tuesday following a stronger than expected earnings report. The stock has a 200-day moving average of $360.16 and traded as high as $373.48. Credicorp shares last traded at $367.9390, with a volume of 796,828 shares traded.

The bank reported $7.06 EPS for the quarter, missing the consensus estimate of $7.25 by ($0.19). Credicorp had a net margin of 25.26% and a return on equity of 19.49%. The business had revenue of $2 billion for the quarter, compared to analysts’ expectations of $1.92 billion.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on BAP. UBS Group raised their target price on shares of Credicorp from $412.00 to $473.00 and gave the company a “buy” rating in a report on Thursday, August 20th. The Goldman Sachs Group increased their target price on shares of Credicorp from $329.00 to $374.00 and gave the company a “neutral” rating in a research note on Thursday, July 16th. Weiss Ratings lowered shares of Credicorp from a “buy (a-)” rating to a “buy (b+)” rating in a report on Wednesday, November 4th. Finally, JPMorgan Chase & Co. raised shares of Credicorp from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $453.00 to $482.00 in a research note on Wednesday, September 16th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Credicorp currently has a consensus rating of “Moderate Buy” and an average target price of $431.80.

Institutional Trading of Credicorp

Several institutional investors and hedge funds have recently modified their holdings of BAP. BlackRock Inc. purchased a new stake in shares of Credicorp in the 2nd quarter worth $1,933,666,000. Royal Bank of Canada grew its position in shares of Credicorp by 0.8% during the 1st quarter. Royal Bank of Canada now owns 1,721,926 shares of the bank’s stock worth $584,042,000 after buying an additional 13,249 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of Credicorp by 15.4% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 842,780 shares of the bank’s stock worth $285,854,000 after buying an additional 112,418 shares in the last quarter. Pzena Investment Management LLC bought a new position in shares of Credicorp during the 2nd quarter worth $325,911,000. Finally, Bank of Nova Scotia purchased a new position in shares of Credicorp during the second quarter valued at $311,294,000. Institutional investors own 89.81% of the company’s stock.

Credicorp Stock Performance

The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.38. The firm has a 50 day moving average price of $375.75 and a 200 day moving average price of $360.16. The stock has a market cap of $34.73 billion, a PE ratio of 13.14, a price-to-earnings-growth ratio of 0.69 and a beta of 0.89.

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.