Globeflex Capital L P acquired a new stake in Intercorp Financial Services Inc. (NYSE:IFS – Free Report) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 408,951 shares of the company’s stock, valued at approximately $23,294,000. Intercorp Financial Services makes up approximately 3.0% of Globeflex Capital L P’s holdings, making the stock its largest position.
A number of other large investors have also bought and sold shares of the business. Caitong International Asset Management Co. Ltd increased its position in shares of Intercorp Financial Services by 106.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 745 shares of the company’s stock worth $32,000 after acquiring an additional 384 shares in the last quarter. DGS Capital Management LLC acquired a new stake in Intercorp Financial Services in the 1st quarter valued at approximately $213,000. Pinnacle Associates Ltd. acquired a new stake in Intercorp Financial Services in the 3rd quarter valued at approximately $275,000. Balyasny Asset Management L.P. bought a new stake in Intercorp Financial Services in the 4th quarter valued at approximately $294,000. Finally, Armistice Capital LLC bought a new stake in Intercorp Financial Services in the 4th quarter valued at approximately $301,000.
Analysts Set New Price Targets
Several brokerages have recently weighed in on IFS. JPMorgan Chase & Co. cut shares of Intercorp Financial Services from an “overweight” rating to a “neutral” rating and set a $56.00 price target for the company. in a research note on Monday, June 15th. Wall Street Zen lowered shares of Intercorp Financial Services from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. Zacks Research upgraded shares of Intercorp Financial Services from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 9th. Finally, Weiss Ratings restated a “buy (b)” rating on shares of Intercorp Financial Services in a research note on Wednesday. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $56.00.
Intercorp Financial Services Stock Down 0.3%
Shares of IFS opened at $54.70 on Monday. The firm has a market cap of $6.08 billion, a P/E ratio of 10.00, a price-to-earnings-growth ratio of 0.73 and a beta of 0.80. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.08 and a current ratio of 1.10. Intercorp Financial Services Inc. has a 52 week low of $38.29 and a 52 week high of $61.38. The firm’s 50-day simple moving average is $57.50 and its 200 day simple moving average is $51.54.
Intercorp Financial Services (NYSE:IFS – Get Free Report) last released its quarterly earnings results on Tuesday, August 11th. The company reported $1.53 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.08. The business had revenue of $554.15 million during the quarter, compared to analysts’ expectations of $520.46 million. Intercorp Financial Services had a return on equity of 17.06% and a net margin of 34.81%. On average, analysts forecast that Intercorp Financial Services Inc. will post 5.98 earnings per share for the current year.
Intercorp Financial Services Profile
Intercorp Financial Services (NYSE:IFS) is a Lima-based financial holding company that brings together a suite of banking and non-banking financial businesses under the Intercorp Group umbrella. Through its network of subsidiaries, the company provides a broad range of products and services designed to meet the needs of individual consumers, small and medium-sized enterprises, and large corporations across Peru.
The company’s core banking operations are conducted through Interbank, which offers deposit accounts, personal and business loans, credit and debit cards, trade finance and electronic banking solutions.
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