Matthews International Capital Management LLC Purchases Shares of 72,384 Intercorp Financial Services Inc. $IFS

Matthews International Capital Management LLC purchased a new stake in shares of Intercorp Financial Services Inc. (NYSE:IFS) during the 1st quarter, HoldingsChannel reports. The fund purchased 72,384 shares of the company’s stock, valued at approximately $3,634,000. Intercorp Financial Services accounts for 1.5% of Matthews International Capital Management LLC’s investment portfolio, making the stock its 23rd largest position.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Schroder Investment Management Group lifted its holdings in Intercorp Financial Services by 34.2% in the 4th quarter. Schroder Investment Management Group now owns 750,628 shares of the company’s stock valued at $31,797,000 after acquiring an additional 191,217 shares during the last quarter. Millennium Management LLC raised its holdings in shares of Intercorp Financial Services by 66.7% in the 4th quarter. Millennium Management LLC now owns 639,381 shares of the company’s stock worth $27,084,000 after purchasing an additional 255,753 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in shares of Intercorp Financial Services by 7.2% in the 4th quarter. JPMorgan Chase & Co. now owns 631,168 shares of the company’s stock worth $26,736,000 after purchasing an additional 42,149 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Intercorp Financial Services by 15.6% during the third quarter. Arrowstreet Capital Limited Partnership now owns 581,245 shares of the company’s stock valued at $23,447,000 after purchasing an additional 78,333 shares during the last quarter. Finally, William Blair Investment Management LLC boosted its holdings in Intercorp Financial Services by 18.7% during the fourth quarter. William Blair Investment Management LLC now owns 446,887 shares of the company’s stock worth $18,930,000 after buying an additional 70,288 shares in the last quarter.

Analyst Ratings Changes

Several research analysts have issued reports on IFS shares. 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 report on Monday, June 15th. Wall Street Zen upgraded Intercorp Financial Services from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Weiss Ratings restated a “buy (b)” rating on shares of Intercorp Financial Services in a report on Friday, May 22nd. Finally, Zacks Research upgraded Intercorp Financial Services from a “hold” rating to a “strong-buy” rating in a research note on Thursday. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $56.00.

Intercorp Financial Services Price Performance

Shares of IFS stock opened at $60.91 on Monday. Intercorp Financial Services Inc. has a 12 month low of $35.45 and a 12 month high of $61.25. The company has a market capitalization of $6.77 billion, a P/E ratio of 11.39, a P/E/G ratio of 0.84 and a beta of 0.78. The stock has a 50 day moving average of $51.78 and a two-hundred day moving average of $48.87. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.61.

Intercorp Financial Services (NYSE:IFS) last issued its earnings results on Tuesday, March 31st. The company reported $1.54 EPS for the quarter. The business had revenue of $508.76 million during the quarter. Intercorp Financial Services had a return on equity of 17.49% and a net margin of 30.53%. As a group, equities analysts expect that Intercorp Financial Services Inc. will post 5.97 EPS for the current year.

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.