Intercorp Financial Services (NYSE:IFS) Rating Increased to Strong-Buy at Wall Street Zen

Key Points

• Intercorp Financial Services' rating has been upgraded from "buy" to "strong-buy" by Wall Street Zen, indicating increased analyst confidence.
• The company's shares have experienced a slight decline of 0.1% and are currently priced at $38.68, with a market capitalization of $4.43 billion.
• Notable insider trading occurred when major shareholder Peru Ltd Intercorp purchased 17,803 shares at an average price of $19.66 per share, increasing their ownership stake.

Wall Street Zen upgraded shares of Intercorp Financial Services (NYSE:IFS - Free Report) from a buy rating to a strong-buy rating in a research note released on Saturday.

Intercorp Financial Services Trading Down 0.1%

Shares of IFS stock traded down $0.0450 during mid-day trading on Friday, hitting $38.3450. 79,713 shares of the company's stock were exchanged, compared to its average volume of 242,800. Intercorp Financial Services has a fifty-two week low of $23.53 and a fifty-two week high of $40.24. The stock has a 50-day simple moving average of $37.04 and a two-hundred day simple moving average of $34.50. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.61. The stock has a market cap of $4.39 billion, a price-to-earnings ratio of 8.52, a PEG ratio of 0.36 and a beta of 1.15.

Insider Activity

In other Intercorp Financial Services news, major shareholder Peru Ltd Intercorp acquired 17,803 shares of the firm's stock in a transaction dated Tuesday, July 22nd. The shares were 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 directly 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Institutional Investors Weigh In On Intercorp Financial Services

Several hedge funds have recently made changes to their positions in the business. Lazard Asset Management LLC boosted its holdings in shares of Intercorp Financial Services by 40.6% during the second quarter. Lazard Asset Management LLC now owns 119,730 shares of the company's stock worth $4,565,000 after purchasing an additional 34,565 shares during the last quarter. HRT Financial LP boosted its holdings in shares of Intercorp Financial Services by 333.4% during the second quarter. HRT Financial LP now owns 103,657 shares of the company's stock worth $3,952,000 after purchasing an additional 79,738 shares during the last quarter. Engineers Gate Manager LP boosted its holdings in shares of Intercorp Financial Services by 251.2% during the second quarter. Engineers Gate Manager LP now owns 64,270 shares of the company's stock worth $2,451,000 after purchasing an additional 45,968 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in shares of Intercorp Financial Services by 111.1% during the second quarter. BNP Paribas Financial Markets now owns 152,304 shares of the company's stock worth $5,807,000 after purchasing an additional 80,166 shares during the last quarter. Finally, PDT Partners LLC boosted its holdings in shares of Intercorp Financial Services by 55.3% during the second quarter. PDT Partners LLC now owns 81,712 shares of the company's stock worth $3,116,000 after purchasing an additional 29,104 shares during the last quarter.

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.