Sheets Smith Wealth Management Purchases Shares of 10,779 Intercorp Financial Services Inc. $IFS

Key Points

• Sheets Smith Wealth Management has purchased 10,779 shares of Intercorp Financial Services, valued at approximately $411,000, highlighting increasing institutional interest in the company.
• The stock has seen recent upgrades to a "strong-buy" rating from multiple analysts, suggesting positive momentum and confidence in its future performance.
• Intercorp Financial Services has a current market cap of $4.64 billion and has traded between a 52-week low of $24.99 and a high of $42.21.

Sheets Smith Wealth Management acquired a new position in shares of Intercorp Financial Services Inc. (NYSE:IFS - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,779 shares of the company's stock, valued at approximately $411,000.

A number of other institutional investors also recently modified their holdings of IFS. FNY Investment Advisers LLC bought a new stake in Intercorp Financial Services during the 1st quarter worth approximately $182,000. Jane Street Group LLC acquired a new position in Intercorp Financial Services in the first quarter worth $287,000. Mackenzie Financial Corp bought a new stake in shares of Intercorp Financial Services during the first quarter worth $303,000. Maverick Capital Ltd. acquired a new stake in shares of Intercorp Financial Services in the first quarter valued at $510,000. Finally, Quantbot Technologies LP raised its holdings in shares of Intercorp Financial Services by 50.2% in the first quarter. Quantbot Technologies LP now owns 16,404 shares of the company's stock valued at $543,000 after buying an additional 5,481 shares during the last quarter.

Intercorp Financial Services Price Performance

IFS opened at $40.57 on Thursday. The company has a fifty day moving average price of $38.85 and a two-hundred day moving average price of $35.95. The firm has a market capitalization of $4.64 billion, a PE ratio of 9.02, a P/E/G ratio of 0.36 and a beta of 1.16. Intercorp Financial Services Inc. has a 52 week low of $24.99 and a 52 week high of $42.21. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.12 and a current ratio of 1.12.

Insider Activity at Intercorp Financial Services

In related news, major shareholder Peru Ltd Intercorp acquired 17,803 shares of the company's stock in a transaction that occurred on Tuesday, July 22nd. The stock was acquired at an average price of $19.66 per share, for a total transaction of $350,006.98. Following the completion of the acquisition, the insider owned 2,946,766 shares of the company's stock, valued at $57,933,419.56. This trade represents a 0.61% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the stock. Wall Street Zen raised shares of Intercorp Financial Services from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 16th. Zacks Research raised shares of Intercorp Financial Services from a "hold" rating to a "strong-buy" rating in a report on Tuesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of "Strong Buy".

About Intercorp Financial Services

Intercorp Financial Services Inc, together with its subsidiaries, offers banking, insurance, wealth management, and payment services for retail and commercial clients in Peru. The company provides loans, credit facilities, deposits, and current accounts; life annuity products with single-premium payment and conventional life insurance products, as well as other retail insurance products; and brokerage and investment management services.

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