Globeflex Capital L P Acquires 64,047 Shares of Intercorp Financial Services Inc. $IFS

Globeflex Capital L P lifted its holdings in shares of Intercorp Financial Services Inc. (NYSE:IFS) by 17.5% during the 4th quarter, Holdings Channel reports. The firm owned 429,545 shares of the company’s stock after buying an additional 64,047 shares during the period. Intercorp Financial Services makes up about 2.8% of Globeflex Capital L P’s holdings, making the stock its biggest position. Globeflex Capital L P’s holdings in Intercorp Financial Services were worth $18,196,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its holdings in Intercorp Financial Services by 24.4% in the third quarter. Principal Financial Group Inc. now owns 534,609 shares of the company’s stock valued at $21,566,000 after acquiring an additional 104,792 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Intercorp Financial Services by 22.3% in the third quarter. JPMorgan Chase & Co. now owns 589,019 shares of the company’s stock valued at $23,761,000 after acquiring an additional 107,290 shares in the last quarter. Schroder Investment Management Group raised its holdings in Intercorp Financial Services by 9.5% in the third quarter. Schroder Investment Management Group now owns 559,411 shares of the company’s stock valued at $22,567,000 after acquiring an additional 48,624 shares in the last quarter. William Blair Investment Management LLC raised its holdings in Intercorp Financial Services by 100.8% in the third quarter. William Blair Investment Management LLC now owns 376,599 shares of the company’s stock valued at $15,192,000 after acquiring an additional 189,065 shares in the last quarter. Finally, Mirabella Financial Services LLP acquired a new stake in Intercorp Financial Services in the third quarter valued at approximately $3,924,000.

Analysts Set New Price Targets

Several analysts recently weighed in on the stock. Zacks Research raised shares of Intercorp Financial Services from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 12th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Intercorp Financial Services in a report on Friday, May 22nd. Wall Street Zen raised shares of Intercorp Financial Services from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Finally, JPMorgan Chase & Co. raised their target price on shares of Intercorp Financial Services from $48.00 to $56.00 and gave the company an “overweight” rating in a report on Wednesday, May 20th. One research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the company’s stock. Based on data from MarketBeat.com, Intercorp Financial Services currently has a consensus rating of “Buy” and an average target price of $56.00.

Intercorp Financial Services Stock Performance

Shares of Intercorp Financial Services stock opened at $48.39 on Friday. The firm has a market capitalization of $5.38 billion, a P/E ratio of 9.05, a P/E/G ratio of 0.70 and a beta of 0.80. Intercorp Financial Services Inc. has a 52 week low of $34.76 and a 52 week high of $53.00. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.61. The firm’s 50 day moving average is $47.92 and its two-hundred day moving average is $46.06.

Intercorp Financial Services (NYSE:IFS) last announced its quarterly earnings results on Tuesday, March 31st. The company reported $1.54 EPS for the quarter. The company had revenue of $508.76 million for the quarter. Intercorp Financial Services had a net margin of 30.53% and a return on equity of 17.49%. Research analysts forecast that Intercorp Financial Services Inc. will post 5.82 EPS for the current fiscal year.

Intercorp Financial Services Increases Dividend

The business also recently declared an annual dividend, which was paid on Tuesday, May 5th. Shareholders of record on Friday, April 24th were paid a $1.80 dividend. This is an increase from Intercorp Financial Services’s previous annual dividend of $1.00. This represents a yield of 401.0%. The ex-dividend date was Friday, April 24th. Intercorp Financial Services’s payout ratio is currently 31.96%.

Intercorp Financial Services 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.