Intercorp Financial Services (NYSE:IFS) Sees Large Volume Increase

Intercorp Financial Services Inc. (NYSE:IFS) saw unusually-strong trading volume on Wednesday . Approximately 201,987 shares traded hands during mid-day trading, an increase of 106% from the previous session’s volume of 97,859 shares.The stock last traded at $26.44 and had previously closed at $26.18.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. decreased their price target on Intercorp Financial Services from $31.00 to $30.00 and set an “overweight” rating for the company in a research note on Thursday, September 12th.

Intercorp Financial Services Stock Performance

The business’s fifty day moving average price is $23.96 and its 200-day moving average price is $23.33. The stock has a market cap of $3.02 billion, a PE ratio of 11.78, a P/E/G ratio of 0.30 and a beta of 1.32. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.12 and a current ratio of 1.10.

Intercorp Financial Services (NYSE:IFS) last issued its earnings results on Wednesday, August 14th. The company reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.09. The company had revenue of $414.92 million for the quarter, compared to analysts’ expectations of $423.35 million. Intercorp Financial Services had a net margin of 14.94% and a return on equity of 8.97%. As a group, equities research analysts forecast that Intercorp Financial Services Inc. will post 3.19 EPS for the current fiscal year.

Insider Activity at Intercorp Financial Services

In other Intercorp Financial Services news, major shareholder Peru Ltd Intercorp acquired 247,311 shares of the stock in a transaction dated Friday, September 27th. The shares were purchased 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 of the company’s stock, valued at $36,214,930.35. The acquisition was disclosed in a filing with the SEC, which is available at this link.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Helikon Investments Ltd increased its stake in shares of Intercorp Financial Services by 208.5% in the 2nd quarter. Helikon Investments Ltd now owns 781,345 shares of the company’s stock worth $17,510,000 after purchasing an additional 528,099 shares in the last quarter. Marshall Wace LLP grew its holdings in Intercorp Financial Services by 544.1% during the second quarter. Marshall Wace LLP now owns 84,377 shares of the company’s stock valued at $1,891,000 after purchasing an additional 71,277 shares during the period. Absolute Gestao de Investimentos Ltda. purchased a new stake in Intercorp Financial Services in the first quarter worth about $1,465,000. Schroder Investment Management Group raised its stake 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 worth $16,519,000 after buying an additional 31,842 shares during the period. Finally, Dodge & Cox purchased a new position in shares of Intercorp Financial Services during the 4th quarter valued at about $593,000.

Intercorp Financial Services Company Profile

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.