Intercorp Financial Services (NYSE:IFS) Stock Price Down 3.4% – Here’s What Happened

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

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on IFS. Weiss Ratings upgraded shares of Intercorp Financial Services from a “buy (b)” rating to a “buy (b+)” rating in a report on Tuesday. JPMorgan Chase & Co. boosted their price objective on shares of Intercorp Financial Services from $56.00 to $62.00 and gave the stock a “neutral” rating in a research note 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 note 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 given a Hold rating to the stock. According to MarketBeat.com, Intercorp Financial Services currently has a consensus rating of “Buy” and an average price target of $62.00.

Intercorp Financial Services Stock Down 3.4%

The company has a 50-day moving average of $55.46 and a 200-day moving average of $53.08. The company has a market capitalization of $5.82 billion, a price-to-earnings ratio of 9.58, a price-to-earnings-growth ratio of 0.71 and a beta of 0.79. The company has a current ratio of 1.10, a quick ratio of 1.08 and a debt-to-equity ratio of 0.59.

Intercorp Financial Services (NYSE:IFS) last released its quarterly earnings results on Tuesday, August 11th. The company reported $1.53 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.08. The company had revenue of $493.38 million during the quarter, compared to analysts’ expectations 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 analysts predict that Intercorp Financial Services Inc. will post 6.11 earnings per share for the current fiscal year.

Institutional Trading of Intercorp Financial Services

A number of institutional investors have recently bought and sold shares of the stock. Globeflex Capital L P acquired a new position in Intercorp Financial Services during the 2nd quarter valued at approximately $23,294,000. Hsbc Holdings PLC lifted 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 worth $19,454,000 after buying an additional 371,814 shares during the period. Lazard Asset Management LLC lifted its stake in shares of Intercorp Financial Services by 3.2% during the first quarter. Lazard Asset Management LLC now owns 171,339 shares of the company’s stock worth $8,601,000 after buying an additional 5,328 shares during the period. BNP Paribas Financial Markets grew its holdings in shares of Intercorp Financial Services by 12.8% during the fourth quarter. BNP Paribas Financial Markets now owns 200,942 shares of the company’s stock valued at $8,512,000 after buying an additional 22,879 shares during the last quarter. Finally, Allianz Asset Management GmbH purchased a new stake in shares of Intercorp Financial Services during the second quarter valued at $5,205,000.

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.