Credicorp (NYSE:BAP) Trading Down 4.4% - What's Next?

Key Points

• Credicorp shares dropped 4.4% on Thursday, trading as low as $267.90, with a notable decline in trading volume of 35% from the average.
• Several analysts have adjusted their ratings on Credicorp, with HSBC downgrading it to "hold" while UBS and Citigroup upgraded their price targets and maintained "buy" ratings.
• Credicorp posted quarterly earnings of $6.24 EPS, exceeding analyst expectations and reporting revenue of $1.58 billion, suggesting strong financial performance despite the stock's recent decline.

Shares of Credicorp Ltd. (NYSE:BAP - Get Free Report) dropped 4.4% during mid-day trading on Thursday . The company traded as low as $267.90 and last traded at $266.12. Approximately 209,921 shares were traded during trading, a decline of 35% from the average daily volume of 321,887 shares. The stock had previously closed at $278.29.

Wall Street Analyst Weigh In

BAP has been the subject of a number of research analyst reports. HSBC lowered Credicorp from a "buy" rating to a "hold" rating and raised their price target for the stock from $225.00 to $255.00 in a research note on Friday, September 5th. Citigroup raised their price target on Credicorp from $255.00 to $275.00 and gave the stock a "buy" rating in a research note on Wednesday, August 20th. The Goldman Sachs Group raised 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 note on Thursday, July 24th. UBS Group raised their price target on Credicorp from $257.00 to $318.00 and gave the stock a "buy" rating in a research note on Tuesday, September 16th. Finally, Hsbc Global Res raised Credicorp to a "hold" rating in a research report on Friday, September 5th. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, Credicorp has a consensus rating of "Hold" and a consensus target price of $250.00.

Credicorp Stock Up 1.5%

The company has a 50-day moving average of $248.48 and a 200-day moving average of $218.00. The company has a market capitalization of $21.20 billion, a price-to-earnings ratio of 12.45, a price-to-earnings-growth ratio of 0.71 and a beta of 1.12. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.49.

Credicorp (NYSE:BAP - Get Free Report) last announced its earnings results on Thursday, August 14th. The bank reported $6.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.73 by $0.51. Credicorp had a return on equity of 17.94% and a net margin of 23.22%.The company had revenue of $1.58 billion for the quarter, compared to analyst estimates of $1.52 billion. On average, equities analysts predict that Credicorp Ltd. will post 21.9 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Nuveen Asset Management LLC grew its stake in Credicorp by 1.6% during the 4th quarter. Nuveen Asset Management LLC now owns 102,601 shares of the bank's stock valued at $18,809,000 after purchasing an additional 1,649 shares during the last quarter. Quantinno Capital Management LP grew its stake in Credicorp by 29.5% during the 4th quarter. Quantinno Capital Management LP now owns 2,996 shares of the bank's stock valued at $549,000 after purchasing an additional 682 shares during the last quarter. Point72 Asset Management L.P. purchased a new stake in Credicorp during the 4th quarter valued at about $128,000. Waverly Advisors LLC purchased a new stake in shares of Credicorp in the fourth quarter worth about $228,000. Finally, Lansforsakringar Fondforvaltning AB publ purchased a new stake in shares of Credicorp in the fourth quarter worth about $2,256,000. 89.81% of the stock is owned by institutional investors and hedge funds.

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.