Intercorp Financial Services (NYSE:IFS) Price Target Raised to $48.00

Intercorp Financial Services (NYSE:IFS) had its target price hoisted by JPMorgan Chase & Co. from $42.00 to $48.00 in a research note issued to investors on Tuesday morning,Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Other research analysts have also recently issued research reports about the company. Wall Street Zen cut Intercorp Financial Services from a “strong-buy” rating to a “hold” rating in a research report on Saturday, November 15th. Weiss Ratings restated a “buy (b)” rating on shares of Intercorp Financial Services in a research note on Monday, December 8th. Finally, Zacks Research cut shares of Intercorp Financial Services from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 10th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $48.00.

Intercorp Financial Services Stock Performance

NYSE IFS opened at $42.59 on Tuesday. The firm’s 50 day simple moving average is $40.97 and its 200 day simple moving average is $39.16. The firm has a market capitalization of $4.87 billion, a price-to-earnings ratio of 9.02, a P/E/G ratio of 0.36 and a beta of 0.86. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.49. Intercorp Financial Services has a 1 year low of $28.11 and a 1 year high of $43.67.

Intercorp Financial Services (NYSE:IFS) last released its earnings results on Friday, November 7th. The company reported $1.12 earnings per share for the quarter, missing the consensus estimate of $1.16 by ($0.04). Intercorp Financial Services had a return on equity of 17.27% and a net margin of 28.41%.The business had revenue of $452.42 million for the quarter, compared to the consensus estimate of $441.08 million. As a group, research analysts expect that Intercorp Financial Services will post 4.23 earnings per share for the current fiscal year.

Insider Buying and Selling at Intercorp Financial Services

In other Intercorp Financial Services news, major shareholder Peru Ltd Intercorp bought 7,125 shares of the business’s stock in a transaction that occurred on Tuesday, October 21st. The shares were acquired at an average cost of $19.65 per share, for a total transaction of $140,006.25. Following the transaction, the insider directly owned 3,100,737 shares in the company, valued at approximately $60,929,482.05. This represents a 0.23% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Hedge Funds Weigh In On Intercorp Financial Services

Several large investors have recently modified their holdings of the business. Acadian Asset Management LLC grew its stake in shares of Intercorp Financial Services by 93.9% in the first quarter. Acadian Asset Management LLC now owns 864,090 shares of the company’s stock worth $28,593,000 after purchasing an additional 418,351 shares during the last quarter. Globeflex Capital L P lifted its holdings in Intercorp Financial Services by 3,477.7% during the 2nd quarter. Globeflex Capital L P now owns 365,498 shares of the company’s stock worth $13,936,000 after buying an additional 355,282 shares during the period. Marshall Wace LLP grew its position in shares of Intercorp Financial Services by 108.1% in the 2nd quarter. Marshall Wace LLP now owns 519,319 shares of the company’s stock valued at $19,802,000 after buying an additional 269,712 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of Intercorp Financial Services by 91.2% in 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, Fourth Sail Capital LP increased its stake in shares of Intercorp Financial Services by 78.0% in the second quarter. Fourth Sail Capital LP now owns 458,974 shares of the company’s stock valued at $17,501,000 after buying an additional 201,100 shares during the period.

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.