Intercorp Financial Services (NYSE:IFS) Shares Up 6.6% After Better-Than-Expected Earnings

Intercorp Financial Services Inc. (NYSE:IFS)’s share price shot up 6.6% during trading on Thursday following a stronger than expected earnings report. The company traded as high as $32.80 and last traded at $33.12. 99,229 shares were traded during trading, a decline of 38% from the average session volume of 160,315 shares. The stock had previously closed at $31.06.

The company reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.94 by $0.19. Intercorp Financial Services had a net margin of 18.00% and a return on equity of 10.67%.

Insider Transactions at Intercorp Financial Services

In related news, major shareholder Peru Ltd Intercorp purchased 574,071 shares of the business’s stock in a transaction on Thursday, December 26th. The stock was acquired at an average price of $19.79 per share, with a total value of $11,360,865.09. Following the completion of the acquisition, the insider now owns 2,470,230 shares of the company’s stock, valued at approximately $48,885,851.70. This trade represents a 30.28 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in IFS. R Squared Ltd purchased a new stake in Intercorp Financial Services in the 4th quarter worth approximately $42,000. Semanteon Capital Management LP purchased a new stake in shares of Intercorp Financial Services in the third quarter worth $222,000. PDT Partners LLC bought a new stake in shares of Intercorp Financial Services during the 3rd quarter valued at $237,000. XTX Topco Ltd purchased a new position in shares of Intercorp Financial Services during the 3rd quarter valued at $288,000. Finally, Cubist Systematic Strategies LLC bought a new position in Intercorp Financial Services in the 2nd quarter worth $387,000.

Intercorp Financial Services Trading Up 6.9 %

The stock has a 50 day simple moving average of $29.14 and a 200-day simple moving average of $26.74. The firm has a market cap of $3.80 billion, a PE ratio of 13.03, a price-to-earnings-growth ratio of 0.27 and a beta of 1.26.

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.