JPMorgan Chase & Co. Raises Intercorp Financial Services (NYSE:IFS) Price Target to $48.00

Intercorp Financial Services (NYSE:IFS) had its price objective upped by JPMorgan Chase & Co. from $42.00 to $48.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 16.18% from the stock’s current price.

Several other analysts have also recently commented on IFS. Zacks Research cut Intercorp Financial Services from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 10th. Weiss Ratings reissued a “buy (b)” rating on shares of Intercorp Financial Services in a research note on Monday, December 8th. Finally, Wall Street Zen lowered Intercorp Financial Services from a “strong-buy” rating to a “hold” rating in a report on Saturday, November 15th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $48.00.

Intercorp Financial Services Trading Up 0.1%

Intercorp Financial Services stock opened at $41.31 on Tuesday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.49. The firm has a 50-day moving average price of $40.93 and a two-hundred day moving average price of $39.14. The firm has a market capitalization of $4.73 billion, a price-to-earnings ratio of 8.75, a PEG ratio of 0.36 and a beta of 0.86. Intercorp Financial Services has a 52-week low of $28.11 and a 52-week high of $43.67.

Intercorp Financial Services (NYSE:IFS) last announced its quarterly earnings results on Friday, November 7th. The company reported $1.12 EPS for the quarter, missing the consensus estimate of $1.16 by ($0.04). The firm had revenue of $452.42 million during the quarter, compared to analyst estimates of $441.08 million. Intercorp Financial Services had a net margin of 28.41% and a return on equity of 17.27%. Sell-side analysts expect that Intercorp Financial Services will post 4.23 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder Peru Ltd Intercorp acquired 20,113 shares of the business’s stock in a transaction on Wednesday, September 24th. The shares were purchased at an average price of $19.64 per share, for a total transaction of $395,019.32. Following the acquisition, the insider owned 3,093,612 shares in the company, valued at approximately $60,758,539.68. This represents a 0.65% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in IFS. Centiva Capital LP purchased a new position in shares of Intercorp Financial Services in the third quarter worth approximately $216,000. Pinnacle Associates Ltd. acquired a new position in Intercorp Financial Services in the 3rd quarter worth approximately $275,000. Allianz Asset Management GmbH purchased a new position in Intercorp Financial Services during the 2nd quarter worth approximately $283,000. Jane Street Group LLC acquired a new stake in Intercorp Financial Services during the 1st quarter valued at $287,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in Intercorp Financial Services during the 3rd quarter valued at $325,000.

About Intercorp Financial Services

Intercorp Financial Services Inc, together with its subsidiaries, offers banking, insurance, wealth management, and payment services for retail and commercial clients in Peru. The company provides loans, credit facilities, deposits, and current accounts; life annuity products with single-premium payment and conventional life insurance products, as well as other retail insurance products; and brokerage and investment management services.