Intercorp Financial Services (NYSE:IFS) Stock Rating Lowered by Wall Street Zen

Key Points

• Wall Street Zen downgraded Intercorp Financial Services (NYSE:IFS) from "buy" to "hold"; despite the downgrade, JPMorgan rates it "overweight" with a $48 target and MarketBeat's consensus rating is "Moderate Buy" with a consensus price target of $48.
• Shares opened at $44.79, trading below the 50-day MA of $47.23 but above the 200-day MA of $43.13, with a 1‑year range of $29.09–$52.58; the company has a market cap of $5.12 billion and a low PE ratio of 9.29.
• Institutional investors materially increased positions recently, including large stake growth by Globeflex, Marshall Wace, Millennium Management, Arrowstreet and Schroder Investment Management.

Intercorp Financial Services (NYSE:IFS - Get Free Report) was downgraded by research analysts at Wall Street Zen from a "buy" rating to a "hold" rating in a research note issued on Tuesday.

A number of other equities analysts also recently issued reports on IFS. Weiss Ratings reissued a "buy (b-)" rating on shares of Intercorp Financial Services in a research note on Monday, December 29th. JPMorgan Chase & Co. boosted their target price on shares of Intercorp Financial Services from $42.00 to $48.00 and gave the stock an "overweight" rating in a research report on Tuesday, December 16th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, Intercorp Financial Services 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 $44.79 on Tuesday. The stock has a fifty day moving average price of $47.23 and a 200 day moving average price of $43.13. Intercorp Financial Services has a 1-year low of $29.09 and a 1-year high of $52.58. The company has a market cap of $5.12 billion, a PE ratio of 9.29, a P/E/G ratio of 0.36 and a beta of 0.83.

Institutional Trading of Intercorp Financial Services

Institutional investors and hedge funds have recently modified their holdings of the business. Globeflex Capital L P grew its position in shares of Intercorp Financial Services by 3,477.7% in the second quarter. Globeflex Capital L P now owns 365,498 shares of the company's stock valued at $13,936,000 after purchasing an additional 355,282 shares during the last quarter. Marshall Wace LLP raised its position in shares of Intercorp Financial Services by 108.1% during the 2nd quarter. Marshall Wace LLP now owns 519,319 shares of the company's stock worth $19,802,000 after purchasing an additional 269,712 shares during the last quarter. Millennium Management LLC raised its position in shares of Intercorp Financial Services by 66.7% during the 4th quarter. Millennium Management LLC now owns 639,381 shares of the company's stock worth $27,084,000 after purchasing an additional 255,753 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in Intercorp Financial Services by 91.2% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 502,912 shares of the company's stock valued at $19,176,000 after buying an additional 239,920 shares during the last quarter. Finally, Schroder Investment Management Group grew its holdings in Intercorp Financial Services by 34.2% during the 4th quarter. Schroder Investment Management Group now owns 750,628 shares of the company's stock valued at $31,797,000 after buying an additional 191,217 shares during 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.

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