Intercorp Financial Services (NYSE:IFS) Stock Price Down 3.4% – Time to Sell?

Shares of Intercorp Financial Services Inc. (NYSE:IFS) were down 3.4% during trading on Wednesday. The stock 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 session volume of 221,332 shares. The stock had previously closed at $54.26.

Analyst Upgrades and Downgrades

Several brokerages have commented on IFS. Weiss Ratings raised Intercorp Financial Services from a “buy (b)” rating to a “buy (b+)” rating in a research note on Tuesday. JPMorgan Chase & Co. raised their price objective on Intercorp Financial Services from $56.00 to $62.00 and gave the stock a “neutral” rating in a research report on Thursday, August 27th. Zacks Research raised shares of Intercorp Financial Services from a “hold” rating to a “strong-buy” rating in a research report on Thursday, July 9th. Finally, Wall Street Zen downgraded shares of Intercorp Financial Services from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Intercorp Financial Services presently has an average rating of “Buy” and a consensus target price of $62.00.

Intercorp Financial Services Trading Up 1.7%

The company has a market capitalization of $5.99 billion, a P/E ratio of 9.86, a price-to-earnings-growth ratio of 0.68 and a beta of 0.79. The firm has a fifty day moving average price of $55.35 and a 200-day moving average price of $53.12. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.10 and a quick ratio of 1.08.

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

Hedge Funds Weigh In On Intercorp Financial Services

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Public Employees Retirement System of Ohio purchased a new position in shares of Intercorp Financial Services during the 2nd quarter valued at about $3,078,000. Matthews International Capital Management LLC bought a new stake in Intercorp Financial Services during the 1st quarter valued at $3,634,000. Hsbc Holdings PLC raised its stake in shares of 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 last quarter. Barings LLC purchased a new position in shares of Intercorp Financial Services during the first quarter valued at approximately $1,349,000. Finally, PVG Asset Management Corp purchased a new position in Intercorp Financial Services during the 1st quarter valued at $1,352,000.

About Intercorp Financial Services

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.