Intercorp Financial Services (NYSE:IFS) Upgraded by Zacks Research to Strong-Buy Rating

Zacks Research upgraded shares of Intercorp Financial Services (NYSE:IFS) from a hold rating to a strong-buy rating in a report released on Thursday morning,Zacks.com reports.

Other analysts have also recently issued research reports about the stock. Wall Street Zen raised shares of Intercorp Financial Services from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. JPMorgan Chase & Co. cut Intercorp Financial Services from an “overweight” rating to a “neutral” rating and set a $56.00 price objective on the stock. in a report on Monday, June 15th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Intercorp Financial Services in a research note on Friday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, Intercorp Financial Services has a consensus rating of “Buy” and a consensus price target of $56.00.

Intercorp Financial Services Stock Performance

Shares of Intercorp Financial Services stock traded up $2.46 during trading on Thursday, hitting $60.91. 223,887 shares of the company’s stock were exchanged, compared to its average volume of 259,078. The stock has a market capitalization of $6.77 billion, a price-to-earnings ratio of 11.39, a PEG ratio of 0.81 and a beta of 0.78. The business has a 50-day simple moving average of $51.78 and a 200-day simple moving average of $48.82. Intercorp Financial Services has a 52-week low of $35.45 and a 52-week high of $61.25. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.08 and a current ratio of 1.08.

Intercorp Financial Services (NYSE:IFS) last released its quarterly earnings results on Tuesday, March 31st. The company reported $1.54 EPS for the quarter. The company had revenue of $508.76 million for the quarter. Intercorp Financial Services had a net margin of 30.53% and a return on equity of 17.49%. On average, research analysts forecast that Intercorp Financial Services will post 5.97 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Caitong International Asset Management Co. Ltd raised its position in Intercorp Financial Services by 106.4% in 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 during the period. Blue Trust Inc. purchased a new position in shares of Intercorp Financial Services during the 4th quarter worth $94,000. DGS Capital Management LLC purchased a new position in shares of Intercorp Financial Services during the 1st quarter worth $213,000. Centiva Capital LP acquired a new stake in shares of Intercorp Financial Services during the 3rd quarter worth about $216,000. Finally, SG Americas Securities LLC increased its position in shares of Intercorp Financial Services by 43.1% during the fourth quarter. SG Americas Securities LLC now owns 5,308 shares of the company’s stock valued at $225,000 after acquiring an additional 1,599 shares during the last quarter.

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.