Intercorp Financial Services (NYSE:IFS) Shares Down 4.9% - Here's Why

Key Points

• Intercorp Financial Services Inc. (NYSE:IFS) experienced a significant stock decline of 4.9% on Thursday, trading as low as $39.58.
• Despite the decline, the company received multiple upgrades to a "strong-buy" rating from research firms, indicating a positive outlook from some analysts.
• Major shareholder Peru Ltd Intercorp increased their stake by purchasing 17,803 shares, suggesting confidence in the company's future performance.

Intercorp Financial Services Inc. (NYSE:IFS - Get Free Report) shares were down 4.9% during trading on Thursday . The stock traded as low as $39.65 and last traded at $39.58. Approximately 168,473 shares were traded during mid-day trading, a decline of 18% from the average daily volume of 206,091 shares. The stock had previously closed at $41.62.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on IFS. Wall Street Zen raised Intercorp Financial Services from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 16th. Zacks Research raised shares of Intercorp Financial Services from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, September 2nd. One research analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat, the stock has a consensus rating of "Strong Buy".

Intercorp Financial Services Price Performance

The company has a 50 day moving average price of $38.62 and a 200 day moving average price of $35.77. The firm has a market cap of $4.59 billion, a PE ratio of 8.90, a price-to-earnings-growth ratio of 0.35 and a beta of 1.16. 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 Transactions at Intercorp Financial Services

In other news, major shareholder Peru Ltd Intercorp purchased 17,803 shares of the company's stock in a transaction that occurred on Tuesday, July 22nd. The shares were purchased at an average price of $19.66 per share, with a total value of $350,006.98. Following the purchase, the insider directly owned 2,946,766 shares of the company's stock, valued at approximately $57,933,419.56. This represents a 0.61% increase in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Northern Trust Corp grew its position in Intercorp Financial Services by 103.5% during the fourth quarter. Northern Trust Corp now owns 61,206 shares of the company's stock valued at $1,796,000 after purchasing an additional 31,136 shares in the last quarter. Bank of America Corp DE lifted its stake in shares of Intercorp Financial Services by 141.4% in the fourth quarter. Bank of America Corp DE now owns 28,875 shares of the company's stock worth $847,000 after buying an additional 16,916 shares during the last quarter. Squarepoint Ops LLC acquired a new position in Intercorp Financial Services during the 4th quarter valued at $672,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Intercorp Financial Services by 4.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 88,700 shares of the company's stock valued at $2,602,000 after buying an additional 3,500 shares during the period. Finally, Public Employees Retirement System of Ohio increased its holdings in Intercorp Financial Services by 149.3% in the 4th quarter. Public Employees Retirement System of Ohio now owns 40,389 shares of the company's stock valued at $1,185,000 after buying an additional 24,185 shares during the period.

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.