JPMorgan Chase & Co. Increases Intercorp Financial Services (NYSE:IFS) Price Target to $32.00

Intercorp Financial Services (NYSE:IFS) had its price objective hoisted by investment analysts at JPMorgan Chase & Co. from $28.00 to $32.00 in a research note issued to investors on Tuesday, Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 50.66% from the company’s previous close.

Intercorp Financial Services Stock Performance

IFS opened at $21.24 on Tuesday. The business has a 50 day moving average of $26.08 and a 200-day moving average of $22.54. Intercorp Financial Services has a 52 week low of $17.94 and a 52 week high of $30.59.

Intercorp Financial Services (NYSE:IFS) last released its earnings results on Monday, February 12th. The company reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.40. The company had revenue of $426.13 million during the quarter, compared to analysts’ expectations of $430.96 million. Intercorp Financial Services had a return on equity of 11.20% and a net margin of 17.52%. As a group, analysts expect that Intercorp Financial Services will post 3.38 EPS for the current year.

Insider Activity at Intercorp Financial Services

In related news, major shareholder Peru Ltd Intercorp acquired 437,369 shares of Intercorp Financial Services stock in a transaction that occurred on Tuesday, March 26th. The stock was bought at an average price of $19.60 per share, with a total value of $8,572,432.40. Following the transaction, the insider now directly owns 1,253,535 shares in the company, valued at $24,569,286. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IFS. FMR LLC increased its holdings in shares of Intercorp Financial Services by 11.0% in the 3rd quarter. FMR LLC now owns 2,953,858 shares of the company’s stock worth $66,521,000 after purchasing an additional 293,910 shares in the last quarter. BlackRock Inc. increased its holdings in shares of Intercorp Financial Services by 6.5% in the 1st quarter. BlackRock Inc. now owns 806,575 shares of the company’s stock worth $27,867,000 after purchasing an additional 49,574 shares in the last quarter. Schroder Investment Management Group increased its holdings in shares of Intercorp Financial Services by 4.4% in the 4th quarter. Schroder Investment Management Group now owns 752,596 shares of the company’s stock worth $16,519,000 after purchasing an additional 31,842 shares in the last quarter. Helikon Investments Ltd increased its holdings in shares of Intercorp Financial Services by 195.7% in the 4th quarter. Helikon Investments Ltd now owns 301,247 shares of the company’s stock worth $6,612,000 after purchasing an additional 199,359 shares in the last quarter. Finally, State Street Corp increased its holdings in shares of Intercorp Financial Services by 11.4% in the 3rd quarter. State Street Corp now owns 229,431 shares of the company’s stock worth $4,602,000 after purchasing an additional 23,535 shares in the last quarter.

Intercorp Financial Services Company Profile

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.