Globeflex Capital L P Takes $23.29 Million Position in Intercorp Financial Services Inc. $IFS

Globeflex Capital L P bought a new position in Intercorp Financial Services Inc. (NYSE:IFS) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 408,951 shares of the company’s stock, valued at approximately $23,294,000. Intercorp Financial Services makes up about 3.0% of Globeflex Capital L P’s holdings, making the stock its biggest holding. Globeflex Capital L P owned approximately 0.37% of Intercorp Financial Services at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in IFS. Caitong International Asset Management Co. Ltd raised its position in Intercorp Financial Services by 106.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 745 shares of the company’s stock valued at $32,000 after acquiring an additional 384 shares in the last quarter. DGS Capital Management LLC bought a new stake in Intercorp Financial Services in the first quarter worth $213,000. Pinnacle Associates Ltd. bought a new stake in shares of Intercorp Financial Services during the 3rd quarter worth about $275,000. Balyasny Asset Management L.P. bought a new stake in Intercorp Financial Services during the fourth quarter worth approximately $294,000. Finally, Armistice Capital LLC acquired a new position in Intercorp Financial Services in the 4th quarter valued at $301,000.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on IFS. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Intercorp Financial Services in a report on Wednesday. Zacks Research upgraded shares of Intercorp Financial Services from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 9th. JPMorgan Chase & Co. downgraded shares of Intercorp Financial Services from an “overweight” rating to a “neutral” rating and set a $56.00 price objective for the company. in a report on Monday, June 15th. Finally, Wall Street Zen lowered shares of Intercorp Financial Services from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus target price of $56.00.

Intercorp Financial Services Price Performance

IFS opened at $54.70 on Monday. The company’s 50 day simple moving average is $57.50 and its 200-day simple moving average is $51.54. The stock has a market capitalization of $6.08 billion, a P/E ratio of 10.00, a price-to-earnings-growth ratio of 0.73 and a beta of 0.80. Intercorp Financial Services Inc. has a one year low of $38.29 and a one year high of $61.38. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.10 and a quick ratio of 1.08.

Intercorp Financial Services (NYSE:IFS) last released its earnings results on Tuesday, August 11th. The company reported $1.53 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $0.08. The company 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 17.06% and a net margin of 34.81%. Sell-side analysts anticipate that Intercorp Financial Services Inc. will post 5.98 earnings per share for the current fiscal year.

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.