Why this direct-listed digital bank is rallying in US brokerage apps
Shares of Brazilian digital bank Inter & Co rose 6.68% to close at $7.19 on October 23, 2026, as major investment banks upgraded their outlooks ahead of third-quarter earnings.
American retail investors looking to diversify abroad often run into the headache of American Depositary Receipts—the indirect, fee-heavy receipts used to trade foreign equities on US exchanges. However, a handful of international companies bypass this structure entirely by choosing a direct, primary listing in New York. One such company, the digital banking platform Inter & Co, is catching Wall Street's attention as its shares experience a sharp upward move.
On October 23, 2026, shares of Inter & Co rose 6.68% to close at $7.19 on the Nasdaq. The rally follows a series of positive updates from major investment banks. In October 2026, both UBS Group and JPMorgan Chase upgraded their outlooks for the stock, citing a "risk-on" environment for Brazilian financials, lower equity risk premiums, and stronger conviction in the company's upside potential.
Inter & Co, widely known in South America as Banco Inter, is a pioneer in Brazil's highly competitive digital banking sector. Unlike traditional brick-and-mortar financial institutions, the Belo Horizonte-based company operates a "SuperApp" that combines checking accounts, investment tools, insurance, and an e-commerce marketplace into a single digital ecosystem.
The stock's recent momentum comes as investors position themselves ahead of the company's third-quarter 2026 earnings release, scheduled for November 12, 2026. In its previous quarterly report published on August 5, 2026, the company showed steady operational improvement, with its return on equity (ROE) reaching 14.94%. While the growth trajectory remains strong, the company still faces hurdles in translating scale into premium profitability. According to financial data compiled on October 23, 2026, Inter & Co commands a price-to-sales ratio of 2.07 and a price-to-book ratio of 1.71.
In your brokerage app
Inter & Co, Inc. is listed in New York on the Nasdaq exchange under the ticker INTR. Because it is a direct listing rather than an ADR, US retail investors can trade its common shares directly without incurring the custody fees typically associated with foreign stocks.