Intercorp Financial Services (NYSE:IFS) Sees Large Volume Increase – Time to Buy?

Intercorp Financial Services Inc. (NYSE:IFS) shares saw strong trading volume on Wednesday . 175,417 shares changed hands during mid-day trading, an increase of 76% from the previous session’s volume of 99,779 shares.The stock last traded at $27.20 and had previously closed at $27.10.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. decreased their price target on Intercorp Financial Services from $31.00 to $30.00 and set an “overweight” rating for the company in a research report on Thursday, September 12th.

Intercorp Financial Services Price Performance

The company has a current ratio of 1.10, a quick ratio of 1.12 and a debt-to-equity ratio of 0.57. The stock has a 50-day simple moving average of $24.37 and a 200 day simple moving average of $23.33. The stock has a market capitalization of $3.13 billion, a price-to-earnings ratio of 12.21, a price-to-earnings-growth ratio of 0.30 and a beta of 1.32.

Intercorp Financial Services (NYSE:IFS) last released its quarterly earnings data on Wednesday, August 14th. The company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.09. Intercorp Financial Services had a net margin of 14.94% and a return on equity of 8.97%. The firm had revenue of $414.92 million for the quarter, compared to analyst estimates of $423.35 million. On average, equities research analysts forecast that Intercorp Financial Services Inc. will post 3.19 EPS for the current fiscal year.

Insider Buying and Selling

In other Intercorp Financial Services news, major shareholder Peru Ltd Intercorp bought 247,311 shares of Intercorp Financial Services stock in a transaction on Friday, September 27th. The stock was purchased at an average cost of $19.65 per share, for a total transaction of $4,859,661.15. Following the completion of the purchase, the insider now directly owns 1,842,999 shares of the company’s stock, valued at $36,214,930.35. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Hedge Funds Weigh In On Intercorp Financial Services

A number of institutional investors have recently modified their holdings of the company. Russell Investments Group Ltd. bought a new position in Intercorp Financial Services during the first quarter worth $31,000. Acadian Asset Management LLC increased its position in Intercorp Financial Services by 487.0% during the first quarter. Acadian Asset Management LLC now owns 15,145 shares of the company’s stock worth $357,000 after acquiring an additional 12,565 shares during the period. Cubist Systematic Strategies LLC bought a new position in Intercorp Financial Services during the second quarter worth $387,000. Virtu Financial LLC bought a new position in Intercorp Financial Services during the first quarter worth $458,000. Finally, Quadrature Capital Ltd bought a new position in Intercorp Financial Services during the first quarter worth $559,000.

About Intercorp Financial Services

Intercorp Financial Services Inc, together with its subsidiaries, offers banking, insurance, wealth management, and payment services for retail and commercial clients in Peru. The company provides loans, credit facilities, deposits, and current accounts; life annuity products with single-premium payment and conventional life insurance products, as well as other retail insurance products; and brokerage and investment management services.