Intercorp Financial Services (NYSE:IFS) Downgraded to “Neutral” Rating by JPMorgan Chase & Co.

Intercorp Financial Services (NYSE:IFS) was downgraded by equities research analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research report issued to clients and investors on Monday, MarketBeat Ratings reports.

Other research analysts have also recently issued research reports about the company. Wall Street Zen raised Intercorp Financial Services from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Intercorp Financial Services in a research note on Friday, May 22nd. Finally, Zacks Research cut Intercorp Financial Services from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 10th. One investment analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $56.00.

Intercorp Financial Services Stock Performance

NYSE IFS opened at $56.91 on Monday. The company has a market cap of $6.32 billion, a P/E ratio of 10.64, a P/E/G ratio of 0.81 and a beta of 0.80. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.08 and a current ratio of 1.08. The business’s 50 day moving average price is $48.32 and its 200-day moving average price is $46.59. Intercorp Financial Services has a fifty-two week low of $35.39 and a fifty-two week high of $57.10.

Intercorp Financial Services (NYSE:IFS) last released its earnings results on Tuesday, March 31st. The company reported $1.54 EPS for the quarter. The firm had revenue of $508.76 million for the quarter. Intercorp Financial Services had a return on equity of 17.49% and a net margin of 30.53%. Sell-side analysts predict that Intercorp Financial Services will post 5.82 earnings per share for the current year.

Institutional Investors Weigh In On Intercorp Financial Services

Hedge funds have recently made changes to their positions in the company. JPMorgan Chase & Co. lifted its holdings in shares of Intercorp Financial Services by 22.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 589,019 shares of the company’s stock worth $23,761,000 after buying an additional 107,290 shares during the period. Schroder Investment Management Group boosted its position in Intercorp Financial Services by 9.5% during the 3rd quarter. Schroder Investment Management Group now owns 559,411 shares of the company’s stock valued at $22,567,000 after acquiring an additional 48,624 shares in the last quarter. William Blair Investment Management LLC boosted its position in Intercorp Financial Services by 100.8% during the 3rd quarter. William Blair Investment Management LLC now owns 376,599 shares of the company’s stock valued at $15,192,000 after acquiring an additional 189,065 shares in the last quarter. Mirabella Financial Services LLP bought a new stake in Intercorp Financial Services during the 3rd quarter valued at $3,924,000. Finally, Channing Global Advisors LLC bought a new stake in Intercorp Financial Services during the 4th quarter valued at $615,000.

Intercorp Financial Services Company Profile

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.