Zacks Investment Research Lowers Intesa Sanpaolo (OTCMKTS:ISNPY) to Sell

Zacks Investment Research cut shares of Intesa Sanpaolo (OTCMKTS:ISNPY) from a hold rating to a sell rating in a research note issued to investors on Wednesday, Zacks.com reports.

According to Zacks, “Intesa Sanpaolo is a new banking group resulting from the merger between Banca Intesa and Sanpaolo IMI. It has leadership in the Italian market and a strong international presence focussed on Central-Eastern Europe and the Mediterranean basin. Intesa Sanpaolo intends to become a benchmark for the creation of value in the European banking sector. The new Group brings together two major Italian banks with shared values and improves their opportunities for growth as well as enabling enhanced service for retail customers, significant support for development of business customers and an important contribution to growth in all the countries where it operates. “

Several other equities analysts have also recently weighed in on ISNPY. Morgan Stanley reiterated an equal weight rating on shares of Intesa Sanpaolo in a research report on Friday, August 6th. UBS Group reiterated a buy rating on shares of Intesa Sanpaolo in a research report on Monday, July 26th. Jefferies Financial Group cut shares of Intesa Sanpaolo from a buy rating to a hold rating in a research report on Monday, June 7th. Deutsche Bank Aktiengesellschaft reiterated a buy rating on shares of Intesa Sanpaolo in a research report on Thursday, August 5th. Finally, Credit Suisse Group cut shares of Intesa Sanpaolo from an outperform rating to a neutral rating in a report on Thursday, June 10th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $19.00.

OTCMKTS ISNPY opened at $16.79 on Wednesday. Intesa Sanpaolo has a twelve month low of $9.70 and a twelve month high of $18.23. The stock has a market cap of $54.38 billion, a price-to-earnings ratio of 20.99 and a beta of 1.34. The firm’s 50 day moving average price is $16.69 and its two-hundred day moving average price is $16.78.

About Intesa Sanpaolo

Intesa Sanpaolo SpA engages in the provision of financial products and banking services. It operates through the following segments: Banca dei Territori, IMI Corporate and Investment Banking, International Subsidiary Banks, Private Banking, Asset Management, Insurance, and Corporate Centre. The Banca dei Territori segment oversees the traditional lending and deposit collection activities in Italy.

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