Cubist Systematic Strategies LLC Acquires 100,907 Shares of Intercorp Financial Services Inc. $IFS

Key Points

• Cubist Systematic Strategies LLC increased its stake in Intercorp Financial Services Inc. by 294.7%, owning 135,143 shares valued at approximately $4.48 million as of the latest reporting period.
• Multiple institutional investors, including Driehaus Capital Management LLC and Itau Unibanco Holding S.A., have also significantly increased their holdings in Intercorp Financial Services, reflecting growing institutional interest.
• Research upgrades have led to a consensus rating of "Strong Buy" for Intercorp Financial Services, with an average price target of $30.00 from analysts.

Cubist Systematic Strategies LLC boosted its holdings in shares of Intercorp Financial Services Inc. (NYSE:IFS - Free Report) by 294.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 135,143 shares of the company's stock after purchasing an additional 100,907 shares during the quarter. Cubist Systematic Strategies LLC owned about 0.12% of Intercorp Financial Services worth $4,477,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Employees Retirement System of Texas bought a new stake in Intercorp Financial Services during the 4th quarter valued at approximately $155,000. FNY Investment Advisers LLC bought a new stake in Intercorp Financial Services during the 1st quarter valued at approximately $182,000. Centiva Capital LP purchased a new position in Intercorp Financial Services during the 4th quarter valued at approximately $291,000. Mackenzie Financial Corp purchased a new position in Intercorp Financial Services during the 1st quarter valued at approximately $303,000. Finally, Balyasny Asset Management L.P. purchased a new position in Intercorp Financial Services during the 4th quarter valued at approximately $305,000.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Wall Street Zen upgraded Intercorp Financial Services from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 16th. Zacks Research upgraded Intercorp Financial Services from a "hold" rating to a "strong-buy" rating in a report on Tuesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company's stock. According to data from MarketBeat, Intercorp Financial Services has a consensus rating of "Strong Buy" and an average price target of $30.00.

Intercorp Financial Services Trading Up 0.9%

Intercorp Financial Services stock traded up $0.35 during mid-day trading on Wednesday, hitting $41.12. The company's stock had a trading volume of 6,174 shares, compared to its average volume of 206,348. The company has a 50 day moving average of $37.99 and a 200-day moving average of $35.28. The stock has a market cap of $4.71 billion, a PE ratio of 9.14, a P/E/G ratio of 0.36 and a beta of 1.16. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.12 and a current ratio of 1.12. Intercorp Financial Services Inc. has a one year low of $23.95 and a one year high of $41.52.

Insider Buying and Selling

In other Intercorp Financial Services news, major shareholder Peru Ltd Intercorp acquired 17,803 shares of the business's stock in a transaction on Tuesday, July 22nd. The shares were bought at an average price of $19.66 per share, with a total value of $350,006.98. Following the transaction, the insider directly owned 2,946,766 shares of the company's stock, valued at $57,933,419.56. The trade was a 0.61% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link.

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.