Intercorp Financial Services (NYSE:IFS) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Intercorp Financial Services from “Buy” to “Hold,” although the broader analyst consensus remains “Buy” with a $56.00 target price.
• IFS exceeded quarterly expectations, reporting $1.53 in EPS versus the $1.45 estimate and revenue of $554.15 million versus the $520.46 million consensus.
• The stock opened at $54.73, with a $6.08 billion market capitalization, while several institutional investors—including HSBC Holdings—recently increased or initiated positions.

Intercorp Financial Services (NYSE:IFS - Get Free Report) was downgraded by investment analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a note issued to investors on Saturday.

IFS has been the topic of a number of other reports. JPMorgan Chase & Co. lowered Intercorp Financial Services from an "overweight" rating to a "neutral" rating and set a $56.00 target price on the stock. in a research report on Monday, June 15th. Zacks Research upgraded Intercorp Financial Services from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 9th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Intercorp Financial Services in a research note on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $56.00.

Intercorp Financial Services Trading Up 0.1%

NYSE:IFS opened at $54.73 on Friday. Intercorp Financial Services has a 1 year low of $38.00 and a 1 year high of $61.38. The stock has a market cap of $6.08 billion, a price-to-earnings ratio of 10.01, a PEG ratio of 0.73 and a beta of 0.81. The business has a fifty day moving average of $57.39 and a 200-day moving average of $51.35. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.08 and a current ratio of 1.10.

Intercorp Financial Services (NYSE:IFS - Get Free Report) last posted its quarterly earnings data on Tuesday, August 11th. The company reported $1.53 EPS for the quarter, beating analysts' consensus estimates of $1.45 by $0.08. Intercorp Financial Services had a net margin of 34.81% and a return on equity of 17.06%. The business had revenue of $554.15 million for the quarter, compared to analyst estimates of $520.46 million. Equities analysts predict that Intercorp Financial Services will post 5.98 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Matthews International Capital Management LLC acquired a new position in Intercorp Financial Services during the 1st quarter worth $3,634,000. Hsbc Holdings PLC boosted its holdings in Intercorp Financial Services by 2,364.9% during the first quarter. Hsbc Holdings PLC now owns 387,536 shares of the company's stock valued at $19,454,000 after acquiring an additional 371,814 shares during the period. Barings LLC acquired a new stake in shares of Intercorp Financial Services in the first quarter valued at about $1,349,000. PVG Asset Management Corp acquired a new stake in shares of Intercorp Financial Services in the first quarter valued at about $1,352,000. Finally, Nipun Capital L.P. bought a new position in shares of Intercorp Financial Services in the second quarter worth about $1,134,000.

About Intercorp Financial Services

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.

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