Intercorp Financial Services (NYSE:IFS) Upgraded to Buy by Zacks Investment Research

Zacks Investment Research upgraded shares of Intercorp Financial Services (NYSE:IFS) from a hold rating to a buy rating in a research report sent to investors on Monday, Zacks.com reports. Zacks Investment Research currently has $28.00 price objective on the stock.

According to Zacks, “Intercorp Financial Services Inc. provides financial products and services. The Company’s business segment consists of Bank, Insurance, Real Estate Operations and Others. Intercorp Financial Services Inc. is based in Lima, Peru. “

Several other equities research analysts also recently issued reports on IFS. JPMorgan Chase & Co. restated an underweight rating and set a $28.00 price objective on shares of Intercorp Financial Services in a research report on Monday, April 26th. Grupo Santander downgraded shares of Intercorp Financial Services from a buy rating to a hold rating in a research report on Wednesday, June 16th. One analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the company’s stock. Intercorp Financial Services has an average rating of Hold and an average price target of $31.80.

Shares of IFS stock opened at $25.20 on Monday. The stock’s 50 day moving average is $27.33. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.19 and a quick ratio of 1.19. The firm has a market capitalization of $2.88 billion and a P/E ratio of 14.16. Intercorp Financial Services has a 12-month low of $19.23 and a 12-month high of $35.96.

The firm also recently announced an annual dividend, which was paid on Thursday, May 6th. Stockholders of record on Wednesday, April 28th were issued a dividend of $0.77 per share. The ex-dividend date of this dividend was Tuesday, April 27th. This represents a dividend yield of 5.6%. Intercorp Financial Services’s dividend payout ratio is presently 20.45%.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Fiera Capital Corp increased its holdings in shares of Intercorp Financial Services by 10.2% during the fourth quarter. Fiera Capital Corp now owns 15,065 shares of the company’s stock worth $487,000 after purchasing an additional 1,392 shares during the period. UBS Group AG bought a new position in Intercorp Financial Services in the first quarter valued at approximately $96,000. Citadel Advisors LLC increased its stake in Intercorp Financial Services by 31.2% in the first quarter. Citadel Advisors LLC now owns 20,560 shares of the company’s stock valued at $615,000 after acquiring an additional 4,887 shares during the last quarter. ExodusPoint Capital Management LP bought a new position in Intercorp Financial Services in the fourth quarter valued at approximately $202,000. Finally, MARSHALL WACE ASIA Ltd bought a new position in Intercorp Financial Services in the fourth quarter valued at approximately $209,000. 9.15% of the stock is currently owned by institutional investors.

Intercorp Financial Services Company Profile

Intercorp Financial Services Inc provides banking, insurance, and wealth management services for retail and commercial clients in Peru. The company operates through three segments: Banking, Insurance, and Wealth Management. It provides transactional accounts, such as cuenta sueldo and cuenta simple; savings accounts; investment accounts; and time deposits, certificates of deposit, and compensation for service time accounts.

Read More: What does a hold rating mean?

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Analyst Recommendations for Intercorp Financial Services (NYSE:IFS)

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