Zacks Research Upgrades Intercorp Financial Services (NYSE:IFS) to “Strong-Buy”

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

Several other research analysts also recently weighed in on IFS. JPMorgan Chase & Co. downgraded Intercorp Financial Services from an “overweight” rating to a “neutral” rating and set a $56.00 price target for the company. in a research note on Monday, June 15th. Wall Street Zen upgraded Intercorp Financial Services from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Intercorp Financial Services in a report 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 issued a Hold rating to the company. According to data from MarketBeat.com, Intercorp Financial Services currently has an average rating of “Buy” and a consensus target price of $56.00.

Intercorp Financial Services Stock Performance

Shares of NYSE:IFS traded up $2.46 during mid-day trading on Thursday, reaching $60.91. The company had a trading volume of 223,887 shares, compared to its average volume of 259,078. Intercorp Financial Services has a one year low of $35.45 and a one year high of $61.25. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.61. The company’s 50-day moving average price is $51.78 and its 200-day moving average price is $48.82. The firm has a market cap of $6.77 billion, a price-to-earnings ratio of 11.39, a PEG ratio of 0.81 and a beta of 0.78.

Intercorp Financial Services (NYSE:IFS) last announced its quarterly earnings data on Tuesday, March 31st. The company reported $1.54 earnings per share for the quarter. Intercorp Financial Services had a return on equity of 17.49% and a net margin of 30.53%.The business had revenue of $508.76 million during the quarter. As a group, equities research analysts anticipate that Intercorp Financial Services will post 5.97 EPS for the current fiscal year.

Institutional Trading of Intercorp Financial Services

A number of institutional investors have recently added to or reduced their stakes in IFS. Caitong International Asset Management Co. Ltd boosted its stake in 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 worth $32,000 after purchasing an additional 384 shares during the period. Blue Trust Inc. bought a new stake in shares of Intercorp Financial Services during the fourth quarter valued at about $94,000. DGS Capital Management LLC purchased a new stake in shares of Intercorp Financial Services in the first quarter worth about $213,000. Centiva Capital LP bought a new position in shares of Intercorp Financial Services in the third quarter valued at approximately $216,000. Finally, SG Americas Securities LLC boosted its position in shares of Intercorp Financial Services by 43.1% in 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 period.

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.