Intercorp Financial Services (NYSE:IFS) Rating Increased to Buy at Wall Street Zen

Wall Street Zen upgraded shares of Intercorp Financial Services (NYSE:IFS) from a hold rating to a buy rating in a research report released on Saturday morning.

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

Intercorp Financial Services Price Performance

Shares of NYSE:IFS opened at $47.53 on Friday. The business’s 50-day moving average is $45.27 and its 200 day moving average is $41.92. Intercorp Financial Services has a 1 year low of $29.09 and a 1 year high of $52.58. The firm has a market capitalization of $5.44 billion, a P/E ratio of 9.86, a P/E/G ratio of 0.38 and a beta of 0.84.

Institutional Investors Weigh In On Intercorp Financial Services

Several hedge funds have recently bought and sold shares of IFS. Principal Financial Group Inc. boosted its position in Intercorp Financial Services by 24.4% during the third quarter. Principal Financial Group Inc. now owns 534,609 shares of the company’s stock worth $21,566,000 after purchasing an additional 104,792 shares in the last quarter. Allianz Asset Management GmbH purchased a new position in shares of Intercorp Financial Services during the 2nd quarter valued at approximately $283,000. Y Intercept Hong Kong Ltd acquired a new stake in Intercorp Financial Services in the 2nd quarter valued at $516,000. Arrowstreet Capital Limited Partnership increased its holdings in Intercorp Financial Services by 91.2% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 502,912 shares of the company’s stock worth $19,176,000 after acquiring an additional 239,920 shares in the last quarter. Finally, Fourth Sail Capital LP increased its holdings in Intercorp Financial Services by 78.0% in the 2nd quarter. Fourth Sail Capital LP now owns 458,974 shares of the company’s stock worth $17,501,000 after acquiring an additional 201,100 shares in the last quarter.

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.