Intercorp Financial Services (NYSE:IFS) Sees Unusually-High Trading Volume – Time to Buy?

Intercorp Financial Services Inc. (NYSE:IFS) saw strong trading volume on Friday . 409,002 shares changed hands during mid-day trading, an increase of 63% from the previous session’s volume of 251,096 shares.The stock last traded at $29.12 and had previously closed at $29.21.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. lowered their price objective on Intercorp Financial Services from $31.00 to $30.00 and set an “overweight” rating for the company in a research note on Thursday, September 12th.

Intercorp Financial Services Price Performance

The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.56. The firm’s 50-day moving average price is $28.34 and its two-hundred day moving average price is $25.62. The stock has a market cap of $3.31 billion, a PE ratio of 11.26, a PEG ratio of 0.41 and a beta of 1.29.

Insider Buying and Selling at Intercorp Financial Services

In other news, major shareholder Peru Ltd Intercorp bought 13,445 shares of the firm’s stock in a transaction that occurred on Monday, December 2nd. The stock was purchased at an average cost of $19.71 per share, for a total transaction of $265,000.95. Following the purchase, the insider now directly owns 1,896,159 shares in the company, valued at approximately $37,373,293.89. This trade represents a 0.71 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Semanteon Capital Management LP acquired a new position in Intercorp Financial Services during the third quarter worth $222,000. PDT Partners LLC purchased a new position in shares of Intercorp Financial Services in the third quarter valued at approximately $237,000. XTX Topco Ltd purchased a new stake in Intercorp Financial Services during the 3rd quarter worth approximately $288,000. Cubist Systematic Strategies LLC acquired a new stake in Intercorp Financial Services during the 2nd quarter worth approximately $387,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Intercorp Financial Services during the third quarter worth $423,000.

About Intercorp Financial Services

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.