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

Key Points

• Intercorp Financial Services (NYSE:IFS) has been upgraded to a Strong Buy rating by Zacks Research, indicating a positive outlook for the stock.
• The stock has seen a recent increase of 2.3%, opening at $41.13 with a market capitalization of $4.71 billion.
• Insider buying activity includes a major shareholder acquiring 17,803 shares at an average price of $19.66, reflecting confidence in the company's future performance.

Intercorp Financial Services (NYSE:IFS - Get Free Report) was upgraded by investment analysts at Zacks Research from a "hold" rating to a "strong-buy" rating in a report released on Tuesday,Zacks.com reports.

Separately, Wall Street Zen upgraded Intercorp Financial Services from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 16th. One equities research analyst has rated the stock with a Strong Buy rating and one has assigned a Buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Strong Buy" and a consensus price target of $30.00.

Intercorp Financial Services Stock Up 2.3%

Shares of NYSE:IFS opened at $41.13 on Tuesday. The stock has a fifty day simple moving average of $37.76 and a two-hundred day simple moving average of $35.03. The stock has a market capitalization of $4.71 billion, a price-to-earnings ratio of 9.14, a PEG ratio of 0.35 and a beta of 1.16. Intercorp Financial Services has a 12-month low of $23.95 and a 12-month high of $41.35. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.61.

Insider Buying and Selling

In other news, major shareholder Peru Ltd Intercorp acquired 17,803 shares of Intercorp Financial Services stock in a transaction that occurred on Tuesday, July 22nd. The stock was bought at an average price of $19.66 per share, for a total transaction of $350,006.98. Following the completion of the transaction, the insider owned 2,946,766 shares in the company, valued at $57,933,419.56. The trade was a 0.61% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Institutional Trading of Intercorp Financial Services

A number of hedge funds have recently bought and sold shares of the company. Lazard Asset Management LLC increased its position in Intercorp Financial Services by 40.6% during the second quarter. Lazard Asset Management LLC now owns 119,730 shares of the company's stock valued at $4,565,000 after acquiring an additional 34,565 shares during the last quarter. HRT Financial LP increased its position in Intercorp Financial Services by 333.4% during the second quarter. HRT Financial LP now owns 103,657 shares of the company's stock valued at $3,952,000 after acquiring an additional 79,738 shares during the last quarter. Engineers Gate Manager LP increased its position in Intercorp Financial Services by 251.2% during the second quarter. Engineers Gate Manager LP now owns 64,270 shares of the company's stock valued at $2,451,000 after acquiring an additional 45,968 shares during the last quarter. BNP Paribas Financial Markets increased its position in Intercorp Financial Services by 111.1% during the second quarter. BNP Paribas Financial Markets now owns 152,304 shares of the company's stock valued at $5,807,000 after acquiring an additional 80,166 shares during the last quarter. Finally, PDT Partners LLC increased its position in Intercorp Financial Services by 55.3% during the second quarter. PDT Partners LLC now owns 81,712 shares of the company's stock valued at $3,116,000 after acquiring an additional 29,104 shares during the last quarter.

Intercorp Financial Services Company Profile

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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