Credit Suisse AG Boosts Holdings in Intercorp Financial Services Inc. (NYSE:IFS)

Credit Suisse AG increased its holdings in Intercorp Financial Services Inc. (NYSE:IFS) by 62.5% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,568 shares of the company’s stock after purchasing an additional 8,684 shares during the period. Credit Suisse AG’s holdings in Intercorp Financial Services were worth $675,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. UBS Group AG bought a new stake in Intercorp Financial Services in the 1st quarter worth approximately $96,000. ExodusPoint Capital Management LP bought a new stake in Intercorp Financial Services in the 4th quarter worth approximately $202,000. MARSHALL WACE ASIA Ltd bought a new stake in Intercorp Financial Services in the 4th quarter worth approximately $209,000. FIL Ltd increased its stake in Intercorp Financial Services by 6.9% in the 4th quarter. FIL Ltd now owns 520,700 shares of the company’s stock worth $16,763,000 after acquiring an additional 33,594 shares during the last quarter. Finally, Northern Trust Corp bought a new stake in Intercorp Financial Services in the 4th quarter worth approximately $1,210,000. 9.15% of the stock is currently owned by institutional investors and hedge funds.

IFS has been the topic of a number of research reports. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $28.00 price objective on shares of Intercorp Financial Services in a research note on Monday, April 26th. Grupo Santander downgraded Intercorp Financial Services from a “buy” rating to a “hold” rating in a research report on Wednesday, June 16th. Finally, Zacks Investment Research downgraded Intercorp Financial Services from a “buy” rating to a “hold” rating in a research report on Thursday, July 15th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $31.25.

NYSE IFS opened at $23.89 on Thursday. The company has a market cap of $2.73 billion and a P/E ratio of 13.42. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.90. The firm’s 50 day moving average is $25.98. Intercorp Financial Services Inc. has a fifty-two week low of $19.23 and a fifty-two week high of $35.96.

Intercorp Financial Services (NYSE:IFS) last released its earnings results on Thursday, May 13th. The company reported $1.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.58. The firm had revenue of $296.78 million for the quarter, compared to the consensus estimate of $333.72 million. Intercorp Financial Services had a return on equity of 20.75% and a net margin of 15.75%. On average, research analysts expect that Intercorp Financial Services Inc. will post 3.42 EPS for the current fiscal year.

About Intercorp Financial Services

Intercorp Financial Services Inc provides banking, insurance, and wealth management services for retail and commercial clients in Peru. The company operates through three segments: Banking, Insurance, and Wealth Management. It provides transactional accounts, such as cuenta sueldo and cuenta simple; savings accounts; investment accounts; and time deposits, certificates of deposit, and compensation for service time accounts.

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Institutional Ownership by Quarter for Intercorp Financial Services (NYSE:IFS)

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