Wall Street Zen Downgrades Intercorp Financial Services (NYSE:IFS) to Buy

Intercorp Financial Services (NYSE:IFS) was downgraded by equities researchers at Wall Street Zen from a “strong-buy” rating to a “buy” rating in a research report issued to clients and investors on Sunday.

Intercorp Financial Services Trading Down 3.0%

Shares of NYSE:IFS opened at $35.24 on Friday. Intercorp Financial Services has a 1-year low of $21.40 and a 1-year high of $36.90. The firm has a market capitalization of $4.03 billion, a PE ratio of 11.67, a PEG ratio of 0.32 and a beta of 1.15. The business’s 50 day moving average is $33.55 and its 200-day moving average is $31.67.

Intercorp Financial Services (NYSE:IFS) last announced its quarterly earnings results on Thursday, May 8th. The company reported $1.06 EPS for the quarter, beating the consensus estimate of $0.89 by $0.17. Intercorp Financial Services had a return on equity of 12.38% and a net margin of 21.03%. The business had revenue of $382.57 million for the quarter, compared to analyst estimates of $1.35 billion. On average, sell-side analysts predict that Intercorp Financial Services will post 4.23 EPS for the current year.

Insider Buying and Selling at Intercorp Financial Services

In other news, major shareholder Peru Ltd Intercorp purchased 320,237 shares of the business’s stock in a transaction dated Wednesday, April 23rd. The shares were acquired at an average price of $19.59 per share, with a total value of $6,273,442.83. Following the completion of the purchase, the insider now directly owns 2,909,571 shares of the company’s stock, valued at $56,998,495.89. The trade was a 12.37% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Hedge Funds Weigh In On Intercorp Financial Services

Large investors have recently made changes to their positions in the company. Principal Financial Group Inc. lifted its stake in shares of Intercorp Financial Services by 64.9% during the fourth quarter. Principal Financial Group Inc. now owns 381,269 shares of the company’s stock valued at $11,186,000 after acquiring an additional 150,000 shares during the period. Northern Trust Corp increased its holdings in Intercorp Financial Services by 103.5% in 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 during the last quarter. Lazard Asset Management LLC bought a new stake in Intercorp Financial Services in the fourth quarter valued at about $1,382,000. Banco BTG Pactual S.A. bought a new stake in Intercorp Financial Services in the fourth quarter valued at about $1,882,000. Finally, Squarepoint Ops LLC bought a new stake in Intercorp Financial Services in the fourth quarter valued at about $672,000.

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.