Wall Street Zen Upgrades Intercorp Financial Services (NYSE:IFS) to Buy

Intercorp Financial Services (NYSE:IFS) was upgraded by investment analysts at Wall Street Zen from a “hold” rating to a “buy” rating in a research note issued on Monday.

A number of other analysts also recently commented on IFS. JPMorgan Chase & Co. boosted their price objective on shares of Intercorp Financial Services from $42.00 to $48.00 and gave the stock an “overweight” rating in a report on Tuesday, December 16th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Intercorp Financial Services in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $48.00.

Intercorp Financial Services Stock Performance

Intercorp Financial Services stock opened at $48.40 on Monday. Intercorp Financial Services has a one year low of $29.09 and a one year high of $52.58. The business has a fifty day moving average of $46.83 and a two-hundred day moving average of $42.82. The company has a market cap of $5.54 billion, a P/E ratio of 10.04, a price-to-earnings-growth ratio of 0.39 and a beta of 0.83.

Institutional Trading of Intercorp Financial Services

Several institutional investors and hedge funds have recently modified their holdings of IFS. Goldman Sachs Group Inc. grew its position in shares of Intercorp Financial Services by 332.5% in the first quarter. Goldman Sachs Group Inc. now owns 63,962 shares of the company’s stock valued at $2,119,000 after purchasing an additional 49,173 shares during the last quarter. Jane Street Group LLC purchased a new stake in Intercorp Financial Services in the 1st quarter valued at approximately $287,000. State of New Jersey Common Pension Fund D grew its holdings in Intercorp Financial Services by 100.2% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 42,764 shares of the company’s stock valued at $1,631,000 after buying an additional 21,400 shares during the last quarter. Envestnet Asset Management Inc. purchased a new position in Intercorp Financial Services during the second quarter worth $1,432,000. Finally, Y Intercept Hong Kong Ltd purchased a new position in Intercorp Financial Services during the second quarter worth $516,000.

About Intercorp Financial Services

Intercorp Financial Services (NYSE:IFS) is a Lima-based financial holding company that brings together a suite of banking and non-banking financial businesses under the Intercorp Group umbrella. Through its network of subsidiaries, the company provides a broad range of products and services designed to meet the needs of individual consumers, small and medium-sized enterprises, and large corporations across Peru.

The company’s core banking operations are conducted through Interbank, which offers deposit accounts, personal and business loans, credit and debit cards, trade finance and electronic banking solutions.