Intercorp Financial Services Inc. $IFS Stake Boosted by Hsbc Holdings PLC

Key Points

• HSBC Holdings PLC dramatically increased its stake in Intercorp Financial Services, boosting its holdings by 2,364.9% in the first quarter to 387,536 shares valued at about $19.45 million.
• Intercorp Financial Services reported solid recent results, including $1.54 EPS and $508.76 million in quarterly revenue, with net margin of 30.53% and return on equity of 17.49%.
• Wall Street sentiment is generally positive: the stock has a consensus Buy rating and a $56.00 average price target, though JPMorgan recently downgraded it to neutral.

Hsbc Holdings PLC lifted its stake in shares of Intercorp Financial Services Inc. (NYSE:IFS - Free Report) by 2,364.9% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 387,536 shares of the company's stock after purchasing an additional 371,814 shares during the quarter. Hsbc Holdings PLC owned about 0.35% of Intercorp Financial Services worth $19,454,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in IFS. Caitong International Asset Management Co. Ltd boosted its position in Intercorp Financial Services by 106.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 745 shares of the company's stock valued at $32,000 after purchasing an additional 384 shares during the period. Blue Trust Inc. bought a new stake in Intercorp Financial Services in the fourth quarter valued at $94,000. DGS Capital Management LLC bought a new stake in Intercorp Financial Services in the first quarter valued at $213,000. SG Americas Securities LLC boosted its holdings in shares of Intercorp Financial Services by 43.1% during the fourth quarter. SG Americas Securities LLC now owns 5,308 shares of the company's stock valued at $225,000 after acquiring an additional 1,599 shares during the period. Finally, Pinnacle Associates Ltd. acquired a new position in shares of Intercorp Financial Services during the third quarter valued at $275,000.

Intercorp Financial Services Price Performance

Shares of NYSE IFS opened at $59.95 on Wednesday. The stock has a market cap of $6.66 billion, a P/E ratio of 11.21, a P/E/G ratio of 0.82 and a beta of 0.78. The firm's 50-day simple moving average is $53.86 and its 200 day simple moving average is $49.71. Intercorp Financial Services Inc. has a fifty-two week low of $35.45 and a fifty-two week high of $61.38. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.61.

Intercorp Financial Services (NYSE:IFS - Get Free Report) last announced its earnings results on Tuesday, March 31st. The company reported $1.54 earnings per share (EPS) for the quarter. The firm had revenue of $508.76 million during the quarter. Intercorp Financial Services had a net margin of 30.53% and a return on equity of 17.49%. Equities analysts expect that Intercorp Financial Services Inc. will post 5.97 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently commented on IFS. Weiss Ratings restated a "buy (b)" rating on shares of Intercorp Financial Services in a research report on Friday, May 22nd. JPMorgan Chase & Co. downgraded shares of Intercorp Financial Services from an "overweight" rating to a "neutral" rating and set a $56.00 price objective on the stock. in a research report on Monday, June 15th. Zacks Research raised shares of Intercorp Financial Services from a "hold" rating to a "strong-buy" rating in a research note on Thursday, July 9th. Finally, Wall Street Zen upgraded shares of Intercorp Financial Services from a "hold" rating to a "buy" rating in a research report on Saturday, May 16th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Buy" and a consensus price target of $56.00.

Intercorp Financial Services Company 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.

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