Intercorp Financial Services (NYSE:IFS) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, Zacks.com reports. The brokerage presently has a $27.00 target price on the stock. Zacks Investment Research‘s price objective points to a potential upside of 11.57% from the company’s previous close.
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. “
IFS has been the topic of a number of other reports. JPMorgan Chase & Co. upgraded shares of Intercorp Financial Services from an “underweight” rating to a “neutral” rating in a report on Tuesday, August 10th. Grupo Santander raised shares of Intercorp Financial Services from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a research note on Friday, September 24th. Finally, Banco Santander raised shares of Intercorp Financial Services to a “buy” rating and set a $28.00 price objective for the company in a research note on Friday, September 24th. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $29.40.
Intercorp Financial Services (NYSE:IFS) last released its quarterly earnings results on Wednesday, August 11th. The company reported $1.04 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.77 by $0.27. Intercorp Financial Services had a net margin of 33.32% and a return on equity of 18.55%. The business had revenue of $412.29 million for the quarter, compared to the consensus estimate of $295.20 million. As a group, sell-side analysts anticipate that Intercorp Financial Services will post 3.69 earnings per share for the current year.
Institutional investors and hedge funds have recently made changes to their positions in the stock. Bank of America Corp DE lifted its holdings in Intercorp Financial Services by 146.2% during the 2nd quarter. Bank of America Corp DE now owns 2,031 shares of the company’s stock valued at $51,000 after buying an additional 1,206 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. bought a new stake in Intercorp Financial Services during the 2nd quarter valued at about $70,000. UBS Group AG bought a new stake in Intercorp Financial Services during the 1st quarter valued at about $96,000. Legal & General Group Plc lifted its holdings in Intercorp Financial Services by 55.7% during the 2nd quarter. Legal & General Group Plc now owns 10,997 shares of the company’s stock valued at $276,000 after buying an additional 3,934 shares in the last quarter. Finally, UBS Asset Management Americas Inc. bought a new stake in Intercorp Financial Services during the 2nd quarter valued at about $278,000. Institutional investors own 9.32% of the company’s stock.
About Intercorp Financial Services
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.
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