Credicorp (NYSE:BAP) Issues Earnings Results, Misses Expectations By $0.19 EPS

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

Credicorp Price Performance

Shares of BAP traded up $7.78 during mid-day trading on Monday, hitting $355.71. 325,161 shares of the company traded hands, 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 stock has a market capitalization of $33.57 billion, a price-to-earnings ratio of 13.18, a PEG 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 one year low of $230.45 and a one year high of $413.24.

Wall Street Analysts Forecast Growth

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

Credicorp Company Profile

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.