Credicorp (NYSE:BAP) Posts Earnings Results, Beats Estimates By $0.51 EPS

Key Points

• Credicorp reported quarterly earnings of $6.24 per share, exceeding analysts' expectations of $5.73 by $0.51, alongside a revenue of $1.58 billion against a projected $1.52 billion.
• Goldman Sachs upgraded Credicorp's rating from "sell" to "neutral" with a new price target of $225.00, while other analysts have mixed ratings with a consensus target of $227.25.
• Institutional investors hold 89.81% of Credicorp's stock, with several hedge funds significantly increasing their positions during the second quarter.

Credicorp (NYSE:BAP - Get Free Report) released its quarterly earnings data on Thursday. The bank reported $6.24 EPS for the quarter, beating the consensus estimate of $5.73 by $0.51, Zacks reports. The company had revenue of $1.58 billion during the quarter, compared to the consensus estimate of $1.52 billion. Credicorp had a return on equity of 16.25% and a net margin of 20.94%.

Credicorp Price Performance

Shares of NYSE BAP traded down $2.4040 during mid-day trading on Tuesday, reaching $250.8160. The company had a trading volume of 192,448 shares, compared to its average volume of 313,325. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.03 and a current ratio of 1.03. Credicorp has a one year low of $165.48 and a one year high of $255.39. The firm has a market cap of $19.95 billion, a price-to-earnings ratio of 13.66, a PEG ratio of 0.79 and a beta of 1.09. The business's 50-day simple moving average is $229.86 and its 200 day simple moving average is $205.37.

Wall Street Analyst Weigh In

BAP has been the subject of several research reports. The Goldman Sachs Group raised Credicorp from a "sell" rating to a "neutral" rating and raised their price target for the company from $174.00 to $225.00 in a report on Thursday, July 24th. Wall Street Zen downgraded Credicorp from a "buy" rating to a "hold" rating in a report on Sunday, June 1st. Finally, UBS Group reaffirmed a "buy" rating on shares of Credicorp in a report on Monday, June 2nd. Two investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $227.25.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Man Group plc increased its position in Credicorp by 25.8% in the 2nd quarter. Man Group plc now owns 80,685 shares of the bank's stock valued at $18,035,000 after acquiring an additional 16,531 shares during the period. BNP Paribas Financial Markets lifted its holdings in shares of Credicorp by 30.0% in the 2nd quarter. BNP Paribas Financial Markets now owns 69,697 shares of the bank's stock worth $15,579,000 after purchasing an additional 16,075 shares in the last quarter. HRT Financial LP lifted its holdings in shares of Credicorp by 93.8% in the 2nd quarter. HRT Financial LP now owns 30,092 shares of the bank's stock worth $6,726,000 after purchasing an additional 14,564 shares in the last quarter. PDT Partners LLC lifted its holdings in shares of Credicorp by 259.2% in the 2nd quarter. PDT Partners LLC now owns 20,124 shares of the bank's stock worth $4,498,000 after purchasing an additional 14,521 shares in the last quarter. Finally, Orion Porfolio Solutions LLC grew its holdings in Credicorp by 1.4% during the second quarter. Orion Porfolio Solutions LLC now owns 7,244 shares of the bank's stock worth $1,619,000 after buying an additional 98 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors.

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.