Intercorp Financial Services (NYSE:IFS) Announces Earnings Results

Intercorp Financial Services (NYSE:IFS) issued its earnings results on Tuesday. The company reported $1.53 EPS for the quarter, topping the consensus estimate of $1.45 by $0.08, Zacks reports. The business had revenue of $554.15 million during the quarter, compared to the consensus estimate of $520.46 million. Intercorp Financial Services had a return on equity of 17.37% and a net margin of 34.81%.

Intercorp Financial Services Trading Down 0.3%

Intercorp Financial Services stock traded down $0.18 during trading hours on Thursday, reaching $54.69. The stock had a trading volume of 108,233 shares, compared to its average volume of 280,082. The stock has a market cap of $6.07 billion, a PE ratio of 10.02, a PEG ratio of 0.79 and a beta of 0.81. Intercorp Financial Services has a 52 week low of $38.00 and a 52 week high of $61.38. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.08 and a quick ratio of 1.08. The company has a fifty day simple moving average of $57.12 and a 200-day simple moving average of $51.27.

Institutional Trading of Intercorp Financial Services

A number of institutional investors have recently modified their holdings of IFS. Mackenzie Financial Corp increased its stake in shares of Intercorp Financial Services by 43.9% during the fourth quarter. Mackenzie Financial Corp now owns 13,158 shares of the company’s stock valued at $554,000 after buying an additional 4,014 shares during the period. XTX Topco Ltd bought a new stake in Intercorp Financial Services in the fourth quarter valued at $455,000. Millennium Management LLC boosted its holdings in Intercorp Financial Services by 66.7% in the fourth quarter. Millennium Management LLC now owns 639,381 shares of the company’s stock valued at $27,084,000 after acquiring an additional 255,753 shares in the last quarter. Balyasny Asset Management L.P. bought a new position in Intercorp Financial Services in the fourth quarter worth about $294,000. Finally, Armistice Capital LLC bought a new position in Intercorp Financial Services in the fourth quarter worth about $301,000.

Analysts Set New Price Targets

Several research firms have issued reports on IFS. JPMorgan Chase & Co. cut shares of Intercorp Financial Services from an “overweight” rating to a “neutral” rating and set a $56.00 target price on the stock. in a research note on Monday, June 15th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Intercorp Financial Services in a research note on Friday, May 22nd. Zacks Research raised Intercorp Financial Services from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 9th. Finally, Wall Street Zen upgraded Intercorp Financial Services from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Intercorp Financial Services has a consensus rating of “Buy” and an average target price of $56.00.

Intercorp Financial Services Company 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.