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

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

Intercorp Financial Services Trading Down 1.6%

NYSE IFS traded down $0.94 on Tuesday, reaching $57.46. The company had a trading volume of 144,078 shares, compared to its average volume of 280,076. Intercorp Financial Services has a fifty-two week low of $37.60 and a fifty-two 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 firm has a market cap of $6.38 billion, a price-to-earnings ratio of 10.74, a P/E/G ratio of 0.81 and a beta of 0.80. The business has a 50 day moving average of $56.86 and a two-hundred day moving average of $51.15.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Millennium Management LLC increased its position in shares of Intercorp Financial Services by 66.7% during the fourth quarter. Millennium Management LLC now owns 639,381 shares of the company’s stock worth $27,084,000 after buying an additional 255,753 shares during the period. Schroder Investment Management Group boosted its position in Intercorp Financial Services by 34.2% during the fourth quarter. Schroder Investment Management Group now owns 750,628 shares of the company’s stock valued at $31,797,000 after acquiring an additional 191,217 shares during the last quarter. Jane Street Group LLC grew its holdings in Intercorp Financial Services by 1,722.7% during the 2nd quarter. Jane Street Group LLC now owns 157,794 shares of the company’s stock worth $6,017,000 after acquiring an additional 149,137 shares during the period. Banco BTG Pactual S.A. grew its holdings in Intercorp Financial Services by 558.2% during the 3rd quarter. Banco BTG Pactual S.A. now owns 129,674 shares of the company’s stock worth $5,231,000 after acquiring an additional 109,974 shares during the period. Finally, Qube Research & Technologies Ltd grew its holdings in Intercorp Financial Services by 192.6% during the 2nd quarter. Qube Research & Technologies Ltd now owns 143,345 shares of the company’s stock worth $5,466,000 after acquiring an additional 94,360 shares during the period.

Analyst Ratings Changes

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