Intercorp Financial Services (NYSE:IFS) Rating Increased to Strong-Buy at Zacks Research

Intercorp Financial Services (NYSE:IFS) was upgraded by equities researchers at Zacks Research from a “hold” rating to a “strong-buy” rating in a research note issued to investors on Thursday,Zacks.com reports.

A number of other equities analysts also recently issued reports on the company. JPMorgan Chase & Co. downgraded Intercorp Financial Services from an “overweight” rating to a “neutral” rating and set a $56.00 price objective for the company. in a research report on Monday, June 15th. Weiss Ratings reiterated a “buy (b)” rating on shares of Intercorp Financial Services in a report on Friday, May 22nd. Finally, Wall Street Zen upgraded Intercorp Financial Services from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. One 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. According to MarketBeat.com, Intercorp Financial Services currently has a consensus rating of “Buy” and an average target price of $56.00.

Intercorp Financial Services Stock Performance

Shares of Intercorp Financial Services stock opened at $60.91 on Thursday. The stock has a market cap of $6.77 billion, a price-to-earnings ratio of 11.39, a P/E/G ratio of 0.81 and a beta of 0.78. Intercorp Financial Services has a twelve month low of $35.45 and a twelve month high of $61.25. The company’s fifty day moving average is $51.78 and its 200 day moving average is $48.82. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.61.

Intercorp Financial Services (NYSE:IFS) last announced its earnings results on Tuesday, March 31st. The company reported $1.54 earnings per share (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%. Sell-side analysts forecast that Intercorp Financial Services will post 5.97 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in IFS. Caitong International Asset Management Co. Ltd lifted its stake in shares of Intercorp Financial Services by 106.4% in the 4th 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. acquired a new stake in Intercorp Financial Services during the fourth quarter worth approximately $94,000. DGS Capital Management LLC bought a new stake in Intercorp Financial Services in the first quarter worth approximately $213,000. Centiva Capital LP bought a new stake in Intercorp Financial Services in the third quarter worth approximately $216,000. Finally, SG Americas Securities LLC increased its holdings in Intercorp Financial Services by 43.1% in the fourth quarter. SG Americas Securities LLC now owns 5,308 shares of the company’s stock worth $225,000 after purchasing an additional 1,599 shares in the last quarter.

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.