Intercorp Financial Services (NYSE:IFS) Sees Strong Trading Volume – Here’s What Happened

Shares of Intercorp Financial Services Inc. (NYSE:IFS) saw unusually-high trading volume on Wednesday . Approximately 175,417 shares changed hands during mid-day trading, an increase of 76% from the previous session’s volume of 99,779 shares.The stock last traded at $27.20 and had previously closed at $27.10.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. lowered their price target on shares of Intercorp Financial Services from $31.00 to $30.00 and set an “overweight” rating on the stock in a report on Thursday, September 12th.

Intercorp Financial Services Trading Up 0.1 %

The company’s fifty day moving average price is $24.37 and its two-hundred day moving average price is $23.33. The company has a current ratio of 1.10, a quick ratio of 1.12 and a debt-to-equity ratio of 0.57. The firm has a market cap of $3.13 billion, a P/E ratio of 12.21, a price-to-earnings-growth ratio of 0.30 and a beta of 1.32.

Intercorp Financial Services (NYSE:IFS) last issued its quarterly earnings data on Wednesday, August 14th. The company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.09. Intercorp Financial Services had a net margin of 14.94% and a return on equity of 8.97%. The firm had revenue of $414.92 million for the quarter, compared to analyst estimates of $423.35 million. As a group, sell-side analysts predict that Intercorp Financial Services Inc. will post 3.19 EPS for the current fiscal year.

Insider Activity

In related news, major shareholder Peru Ltd Intercorp acquired 247,311 shares of the company’s stock in a transaction dated Friday, September 27th. The shares were bought at an average price of $19.65 per share, for a total transaction of $4,859,661.15. Following the purchase, the insider now directly owns 1,842,999 shares in the company, valued at approximately $36,214,930.35. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Hedge Funds Weigh In On Intercorp Financial Services

Hedge funds and other institutional investors have recently bought and sold shares of the business. Helikon Investments Ltd boosted its holdings in shares of Intercorp Financial Services by 208.5% during the second quarter. Helikon Investments Ltd now owns 781,345 shares of the company’s stock worth $17,510,000 after acquiring an additional 528,099 shares during the period. Marshall Wace LLP increased its position in Intercorp Financial Services by 544.1% during the 2nd quarter. Marshall Wace LLP now owns 84,377 shares of the company’s stock worth $1,891,000 after buying an additional 71,277 shares during the period. Absolute Gestao de Investimentos Ltda. acquired a new stake in shares of Intercorp Financial Services during the first quarter worth $1,465,000. Schroder Investment Management Group boosted its position in shares of Intercorp Financial Services by 4.4% in the fourth quarter. Schroder Investment Management Group now owns 752,596 shares of the company’s stock valued at $16,519,000 after acquiring an additional 31,842 shares during the period. Finally, Dodge & Cox bought a new stake in shares of Intercorp Financial Services in the fourth quarter valued at about $593,000.

About Intercorp Financial Services

Intercorp Financial Services Inc, together with its subsidiaries, offers banking, insurance, wealth management, and payment services for retail and commercial clients in Peru. The company provides loans, credit facilities, deposits, and current accounts; life annuity products with single-premium payment and conventional life insurance products, as well as other retail insurance products; and brokerage and investment management services.