PVG Asset Management Corp Buys New Shares in Intercorp Financial Services Inc. $IFS

PVG Asset Management Corp purchased a new stake in shares of Intercorp Financial Services Inc. (NYSE:IFS) during the first quarter, Holdings Channel reports. The fund purchased 24,752 shares of the company’s stock, valued at approximately $1,352,000.

A number of other large investors have also recently bought and sold shares of IFS. Matthews International Capital Management LLC acquired a new position in shares of Intercorp Financial Services in the 1st quarter valued at about $3,634,000. Hsbc Holdings PLC grew its stake in Intercorp Financial Services by 2,364.9% during the first quarter. Hsbc Holdings PLC now owns 387,536 shares of the company’s stock worth $19,454,000 after purchasing an additional 371,814 shares during the period. Barings LLC acquired a new stake in Intercorp Financial Services during the first quarter worth approximately $1,349,000. Channing Global Advisors LLC acquired a new stake in Intercorp Financial Services during the fourth quarter worth approximately $615,000. Finally, Globeflex Capital L P increased its holdings in Intercorp Financial Services by 17.5% in the fourth quarter. Globeflex Capital L P now owns 429,545 shares of the company’s stock worth $18,196,000 after purchasing an additional 64,047 shares in the last quarter.

Analysts Set New Price Targets

IFS has been the topic of a number of research analyst reports. JPMorgan Chase & Co. cut Intercorp Financial Services from an “overweight” rating to a “neutral” rating and set a $56.00 price target on the stock. in a report on Monday, June 15th. Weiss Ratings reiterated a “buy (b)” rating on shares of Intercorp Financial Services in a research report on Friday, May 22nd. Zacks Research raised shares of 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 shares of Intercorp Financial Services from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. One 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’s stock. According to data from MarketBeat, Intercorp Financial Services has a consensus rating of “Buy” and an average price target of $56.00.

Intercorp Financial Services Price Performance

Shares of NYSE:IFS opened at $58.10 on Monday. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.61. The stock has a market cap of $6.45 billion, a PE ratio of 10.86, a price-to-earnings-growth ratio of 0.81 and a beta of 0.78. The stock’s fifty day simple moving average is $55.73 and its two-hundred day simple moving average is $50.57. Intercorp Financial Services Inc. has a 1-year low of $35.45 and a 1-year high of $61.38.

Intercorp Financial Services (NYSE:IFS) last announced its earnings results on Tuesday, March 31st. The company reported $1.54 earnings per share for the quarter. The firm had revenue of $508.76 million for the quarter. Intercorp Financial Services had a return on equity of 17.49% and a net margin of 30.53%. As a group, analysts forecast that Intercorp Financial Services Inc. will post 5.97 EPS for the current fiscal year.

About Intercorp Financial Services

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.