Maverick Capital Ltd. Buys Shares of 15,402 Intercorp Financial Services Inc. $IFS

Key Points

• Maverick Capital Ltd. has acquired 15,402 shares of Intercorp Financial Services Inc., valued at approximately $510,000, marking a significant institutional investment.
• Wall Street analysts have upgraded Intercorp Financial Services from a "buy" to a "strong-buy" rating, with an average target price of $30.00 per share.
• Major shareholder Peru Ltd Intercorp recently purchased an additional 17,803 shares, increasing its ownership stake in the company to 2,946,766 shares, worth around $57.93 million.

Maverick Capital Ltd. purchased a new stake in Intercorp Financial Services Inc. (NYSE:IFS - Free Report) during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 15,402 shares of the company's stock, valued at approximately $510,000.

A number of other hedge funds have also recently bought and sold shares of IFS. Northern Trust Corp boosted its position in Intercorp Financial Services by 103.5% during the fourth quarter. Northern Trust Corp now owns 61,206 shares of the company's stock worth $1,796,000 after acquiring an additional 31,136 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in Intercorp Financial Services during the fourth quarter worth approximately $1,687,000. Bank of America Corp DE boosted its position in Intercorp Financial Services by 141.4% during the fourth quarter. Bank of America Corp DE now owns 28,875 shares of the company's stock worth $847,000 after acquiring an additional 16,916 shares during the last quarter. Balyasny Asset Management L.P. acquired a new position in shares of Intercorp Financial Services in the 4th quarter valued at $305,000. Finally, Centiva Capital LP acquired a new position in shares of Intercorp Financial Services in the 4th quarter valued at $291,000.

Intercorp Financial Services Stock Up 0.2%

IFS stock traded up $0.08 during mid-day trading on Friday, hitting $40.82. 127,046 shares of the company were exchanged, compared to its average volume of 171,236. The company has a market capitalization of $4.67 billion, a PE ratio of 9.07, a price-to-earnings-growth ratio of 0.36 and a beta of 1.16. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.61. Intercorp Financial Services Inc. has a twelve month low of $23.95 and a twelve month high of $41.52. The firm has a fifty day simple moving average of $37.88 and a 200 day simple moving average of $35.14.

Insiders Place Their Bets

In related news, major shareholder Peru Ltd Intercorp acquired 17,803 shares of the firm's stock in a transaction on Tuesday, July 22nd. The stock was bought at an average cost of $19.66 per share, with a total value of $350,006.98. Following the acquisition, the insider directly owned 2,946,766 shares in the company, valued at approximately $57,933,419.56. The trade was a 0.61% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on IFS. Zacks Research upgraded shares of Intercorp Financial Services from a "hold" rating to a "strong-buy" rating in a report on Tuesday. Wall Street Zen raised shares of Intercorp Financial Services from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 16th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Strong Buy" and a consensus target price of $30.00.

Intercorp Financial Services 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.