Intercorp Financial Services (NYSE:IFS) Announces Earnings Results

Key Points

• Intercorp Financial Services exceeded quarterly expectations, reporting earnings of $1.49 per share versus the $1.45 consensus estimate. Revenue reached $554.15 million, above analysts’ $520.46 million forecast.
• The company posted a 17.49% return on equity and 30.53% net margin. Shares fell $0.94 to $57.46 after the results, despite trading near their 52-week high of $61.38.
• Analyst sentiment remains broadly positive, with a consensus “Buy” rating and a $56 price target, while institutional investors including Jane Street and Balyasny Asset Management recently established positions.

Intercorp Financial Services (NYSE:IFS - Get Free Report) released its quarterly earnings results on Tuesday. The company reported $1.49 EPS for the quarter, topping the consensus estimate of $1.45 by $0.04, FiscalAI reports. Intercorp Financial Services had a return on equity of 17.49% and a net margin of 30.53%.The firm had revenue of $554.15 million during the quarter, compared to analyst estimates of $520.46 million.

Intercorp Financial Services Stock Performance

IFS stock traded down $0.94 on Tuesday, reaching $57.46. The company's stock had a trading volume of 144,078 shares, compared to its average volume of 280,075. The firm has a fifty day moving average of $56.86 and a two-hundred day moving average of $51.15. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.08 and a quick ratio of 1.08. The company has a market capitalization of $6.38 billion, a P/E ratio of 10.74, a price-to-earnings-growth ratio of 0.81 and a beta of 0.80. Intercorp Financial Services has a 52 week low of $37.60 and a 52 week high of $61.38.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Wall Street Zen upgraded Intercorp Financial Services from a "hold" rating to a "buy" rating in a research report on Saturday, May 16th. 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. JPMorgan Chase & Co. lowered shares of Intercorp Financial Services from an "overweight" rating to a "neutral" rating and set a $56.00 price target on the stock. in a research note on Monday, June 15th. Finally, Weiss Ratings reaffirmed a "buy (b)" rating on shares of Intercorp Financial Services in a report on Friday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Intercorp Financial Services currently has a consensus rating of "Buy" and a consensus price target of $56.00.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd raised its stake in shares of Intercorp Financial Services by 106.4% during the fourth 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 in the last quarter. Pinnacle Associates Ltd. bought a new position in Intercorp Financial Services in the 3rd quarter valued at about $275,000. Jane Street Group LLC acquired a new position in Intercorp Financial Services during the 1st quarter valued at about $287,000. Balyasny Asset Management L.P. acquired a new position in Intercorp Financial Services during the 4th quarter valued at about $294,000. Finally, Armistice Capital LLC acquired a new stake in shares of Intercorp Financial Services in the 4th quarter worth approximately $301,000.

About Intercorp Financial Services

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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