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 report issued on Saturday.

IFS has been the topic of several other reports. JPMorgan Chase & Co. increased their price target on shares of Intercorp Financial Services from $42.00 to $48.00 and gave the company an “overweight” rating in a research note on Tuesday, December 16th. Weiss Ratings restated a “buy (b-)” rating on shares of Intercorp Financial Services in a report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $48.00.

Intercorp Financial Services Stock Performance

IFS opened at $47.53 on Friday. Intercorp Financial Services has a one year low of $29.09 and a one year high of $52.58. The company has a market cap of $5.44 billion, a P/E ratio of 9.86, a PEG ratio of 0.40 and a beta of 0.84. The business’s 50-day simple moving average is $45.27 and its 200-day simple moving average is $41.89.

Institutional Investors Weigh In On Intercorp Financial Services

Several large investors have recently modified their holdings of IFS. Caitong International Asset Management Co. Ltd grew its position in shares of Intercorp Financial Services by 106.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 745 shares of the company’s stock worth $32,000 after acquiring an additional 384 shares during the last quarter. Blue Trust Inc. acquired a new stake in Intercorp Financial Services during the 4th quarter worth $94,000. SG Americas Securities LLC grew its position in Intercorp Financial Services by 43.1% during the 4th quarter. SG Americas Securities LLC now owns 5,308 shares of the company’s stock worth $225,000 after purchasing an additional 1,599 shares during the last quarter. Centiva Capital LP purchased a new position in Intercorp Financial Services during the 3rd quarter worth $216,000. Finally, Pinnacle Associates Ltd. acquired a new position in Intercorp Financial Services in the third quarter valued at $275,000.

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.