Intercorp Financial Services (NYSE:IFS) Sees Unusually-High Trading Volume – Here’s Why

Shares of Intercorp Financial Services Inc. (NYSE:IFS) saw strong trading volume on Tuesday . 293,194 shares changed hands during trading, an increase of 191% from the previous session’s volume of 100,701 shares.The stock last traded at $27.15 and had previously closed at $27.02.

Wall Street Analysts Forecast Growth

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

Intercorp Financial Services Stock Performance

The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.12 and a current ratio of 1.10. The firm has a market cap of $3.09 billion, a price-to-earnings ratio of 12.04, a price-to-earnings-growth ratio of 0.32 and a beta of 1.32. The firm’s 50 day moving average is $24.75 and its 200-day moving average is $23.39.

Intercorp Financial Services (NYSE:IFS) last posted its earnings results on Wednesday, August 14th. The company reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.09. Intercorp Financial Services had a return on equity of 8.97% and a net margin of 14.94%. The firm had revenue of $414.92 million during the quarter, compared to analyst estimates of $423.35 million. Sell-side analysts anticipate that Intercorp Financial Services Inc. will post 3.19 earnings per share for the current fiscal year.

Insider Activity at Intercorp Financial Services

In related news, major shareholder Peru Ltd Intercorp acquired 247,311 shares of the stock in a transaction dated Friday, September 27th. The shares were acquired at an average price of $19.65 per share, for a total transaction of $4,859,661.15. Following the completion of the purchase, the insider now owns 1,842,999 shares in the company, valued at approximately $36,214,930.35. The trade was a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Russell Investments Group Ltd. acquired a new position in Intercorp Financial Services in the first quarter worth about $31,000. Acadian Asset Management LLC lifted its position in shares of Intercorp Financial Services by 487.0% during the 1st quarter. Acadian Asset Management LLC now owns 15,145 shares of the company’s stock worth $357,000 after buying an additional 12,565 shares during the period. Cubist Systematic Strategies LLC acquired a new stake in Intercorp Financial Services in the 2nd quarter valued at $387,000. Virtu Financial LLC bought a new stake in Intercorp Financial Services in the first quarter valued at $458,000. Finally, Quadrature Capital Ltd acquired a new position in Intercorp Financial Services during the first quarter worth $559,000.

Intercorp Financial Services Company Profile

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.