Intercorp Financial Services (NYSE:IFS) Downgraded by Zacks Research to “Hold”

Zacks Research cut shares of Intercorp Financial Services (NYSE:IFS) from a strong-buy rating to a hold rating in a research note published on Tuesday,Zacks reports.

Several other research analysts also recently weighed in on the company. Weiss Ratings upgraded Intercorp Financial Services from a “buy (b)” rating to a “buy (b+)” rating in a research note on Tuesday, October 6th. JPMorgan Chase & Co. boosted their target price on Intercorp Financial Services from $56.00 to $62.00 and gave the company a “neutral” rating in a report on Thursday, August 27th. Finally, Wall Street Zen cut Intercorp Financial Services from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. One analyst has rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Intercorp Financial Services presently has a consensus rating of “Hold” and an average target price of $62.00.

Intercorp Financial Services Price Performance

Shares of NYSE:IFS opened at $50.76 on Tuesday. Intercorp Financial Services has a one year low of $38.29 and a one year high of $61.38. The stock has a market capitalization of $5.64 billion, a price-to-earnings ratio of 9.28, a PEG ratio of 0.67 and a beta of 0.79. The company has a 50-day simple moving average of $54.25 and a 200-day simple moving average of $51.80. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.08 and a current ratio of 1.10.

Intercorp Financial Services (NYSE:IFS) last released its quarterly earnings results on Tuesday, August 11th. The company reported $1.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $0.08. The firm had revenue of $493.38 million for the quarter, compared to analyst estimates of $520.46 million. Intercorp Financial Services had a return on equity of 17.06% and a net margin of 34.81%. On average, analysts predict that Intercorp Financial Services will post 6.11 EPS for the current year.

Institutional Investors Weigh In On Intercorp Financial Services

A number of hedge funds have recently added to or reduced their stakes in the company. Tidal Investments LLC grew its stake in shares of Intercorp Financial Services by 1.8% during the 2nd quarter. Tidal Investments LLC now owns 17,022 shares of the company’s stock worth $970,000 after purchasing an additional 296 shares during the period. Fortitude Family Office LLC purchased a new position in shares of Intercorp Financial Services in the 3rd quarter valued at about $25,000. Farther Finance Advisors LLC acquired a new stake in shares of Intercorp Financial Services in the third quarter valued at about $30,000. Sei Investments Co. lifted its stake in shares of Intercorp Financial Services by 14.0% in the first quarter. Sei Investments Co. now owns 21,337 shares of the company’s stock valued at $1,071,000 after purchasing an additional 2,618 shares during the period. Finally, DGS Capital Management LLC purchased a new stake in Intercorp Financial Services during the first quarter worth about $213,000.

Intercorp Financial Services Company Profile

Intercorp Financial Services Inc (NYSE: IFS) is a Peru-based financial services holding company that provides banking, insurance, investment, and payment services primarily in Peru. The company serves individuals, businesses, and institutional customers through a portfolio of financial businesses operating under the Intercorp platform.

Its principal banking operations are conducted through Interbank, which offers consumer and commercial banking products such as deposits, loans, credit cards, mortgages, payments, and other financial services.