Intercorp Financial Services (NYSE:IFS) Issues Earnings Results, Beats Estimates By $0.04 EPS

Intercorp Financial Services (NYSE:IFS) posted its quarterly earnings results on Tuesday. The company reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.04, FiscalAI reports. Intercorp Financial Services had a return on equity of 17.49% and a net margin of 30.53%.The firm had revenue of $554.15 million for the quarter, compared to analyst estimates of $520.46 million.

Intercorp Financial Services Stock Down 1.6%

IFS stock traded down $0.94 during trading hours on Tuesday, reaching $57.46. 144,078 shares of the stock were exchanged, compared to its average volume of 280,075. The firm’s 50-day moving average is $56.86 and its 200-day moving average is $51.15. Intercorp Financial Services has a 12 month low of $37.60 and a 12 month high of $61.38. The company has a market cap of $6.38 billion, a price-to-earnings ratio of 10.74, a PEG ratio of 0.81 and a beta of 0.80. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.08 and a quick ratio of 1.08.

Analysts Set New Price Targets

A number of brokerages have weighed in on IFS. Wall Street Zen raised Intercorp Financial Services from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. JPMorgan Chase & Co. lowered 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 report on Monday, June 15th. Weiss Ratings restated a “buy (b)” rating on shares of Intercorp Financial Services in a research note on Friday, May 22nd. Finally, Zacks Research raised Intercorp Financial Services from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 9th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and a consensus price target of $56.00.

Institutional Investors Weigh In On Intercorp Financial Services

Several institutional investors have recently bought and sold shares of the company. Caitong International Asset Management Co. Ltd grew its stake in shares of Intercorp Financial Services by 106.4% during the 4th 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. Pinnacle Associates Ltd. bought a new position in Intercorp Financial Services during the third quarter worth about $275,000. Jane Street Group LLC acquired a new stake in shares of Intercorp Financial Services during the 1st quarter worth $287,000. Balyasny Asset Management L.P. acquired a new position in Intercorp Financial Services during the fourth quarter valued at approximately $294,000. Finally, Armistice Capital LLC acquired a new position in shares of Intercorp Financial Services during the fourth quarter worth $301,000.

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.