Intercorp Financial Services (NYSE:IFS) Stock Price Down 3.4% - Should You Sell?

Key Points

• IFS shares fell 3.4% to about $52.40 in mid-day trading, with volume rising 18% above the average.
• Analyst sentiment remains generally positive: the stock has an average “Buy” rating and a consensus price target of $62, although ratings range from Strong Buy to Hold.
• The company exceeded quarterly EPS expectations, reporting $1.53 versus the $1.45 consensus, while generating $493.38 million in revenue and posting a 17.06% return on equity.

Shares of Intercorp Financial Services Inc. (NYSE:IFS - Get Free Report) fell 3.4% on Wednesday. The company traded as low as $52.27 and last traded at $52.3950. 261,618 shares changed hands during mid-day trading, an increase of 18% from the average daily volume of 221,332 shares. The stock had previously closed at $54.26.

Wall Street Analysts Forecast Growth

IFS has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Intercorp Financial Services from $56.00 to $62.00 and gave the company a "neutral" rating in a research note on Thursday, August 27th. Weiss Ratings raised shares of Intercorp Financial Services from a "buy (b)" rating to a "buy (b+)" rating in a research note on Tuesday. Zacks Research upgraded shares of Intercorp Financial Services from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 9th. Finally, Wall Street Zen cut shares of Intercorp Financial Services from a "buy" rating to a "hold" rating in a research report on Saturday, August 15th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $62.00.

Intercorp Financial Services Trading Down 3.4%

The company has a current ratio of 1.10, a quick ratio of 1.08 and a debt-to-equity ratio of 0.59. The stock has a 50-day simple moving average of $55.46 and a two-hundred day simple moving average of $53.08. The firm has a market capitalization of $5.82 billion, a P/E ratio of 9.58, a price-to-earnings-growth ratio of 0.71 and a beta of 0.79.

Intercorp Financial Services (NYSE:IFS - Get Free Report) last posted its quarterly earnings results on Tuesday, August 11th. The company reported $1.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.45 by $0.08. The business had revenue of $493.38 million for the quarter, compared to the consensus estimate of $520.46 million. Intercorp Financial Services had a return on equity of 17.06% and a net margin of 34.81%. On average, equities research analysts anticipate that Intercorp Financial Services Inc. will post 6.11 earnings per share for the current year.

Institutional Investors Weigh In On Intercorp Financial Services

Several large investors have recently modified their holdings of the business. Tidal Investments LLC increased its holdings in Intercorp Financial Services by 1.8% during the second quarter. Tidal Investments LLC now owns 17,022 shares of the company's stock valued at $970,000 after buying an additional 296 shares during the period. WINTON GROUP Ltd purchased a new stake in Intercorp Financial Services during the second quarter worth $587,000. Engineers Gate Manager LP lifted its holdings in Intercorp Financial Services by 8.7% during the second quarter. Engineers Gate Manager LP now owns 64,990 shares of the company's stock worth $3,702,000 after buying an additional 5,206 shares during the period. Allianz Asset Management GmbH bought a new stake in Intercorp Financial Services during the 2nd quarter valued at $5,205,000. Finally, BTG Pactual Asset Management US LLC bought a new stake in Intercorp Financial Services during the 2nd quarter valued at $250,000.

Intercorp Financial Services Company Profile

Intercorp Financial Services Inc NYSE: IFS is a Peru-based financial services holding company and part of the broader Intercorp group. The company provides banking, insurance, wealth management and payment services primarily in Peru through its operating subsidiaries.

Its principal banking business is conducted through Interbank, which serves individuals and businesses with deposit accounts, loans, credit cards, payment solutions and other financial products. Interseguro provides insurance products, while Inteligo offers investment, brokerage and wealth management services to retail and institutional clients.

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