JPMorgan Chase & Co. Increases Stock Holdings in Intercorp Financial Services Inc. $IFS

JPMorgan Chase & Co. boosted its stake in Intercorp Financial Services Inc. (NYSE:IFS) by 22.3% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 589,019 shares of the company’s stock after acquiring an additional 107,290 shares during the quarter. JPMorgan Chase & Co. owned 0.51% of Intercorp Financial Services worth $23,761,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in IFS. Goldman Sachs Group Inc. raised its position in Intercorp Financial Services by 332.5% during the first quarter. Goldman Sachs Group Inc. now owns 63,962 shares of the company’s stock worth $2,119,000 after acquiring an additional 49,173 shares during the period. Jane Street Group LLC acquired a new stake in shares of Intercorp Financial Services in the first quarter valued at about $287,000. Geode Capital Management LLC increased its stake in shares of Intercorp Financial Services by 9.7% during the second quarter. Geode Capital Management LLC now owns 20,649 shares of the company’s stock worth $787,000 after purchasing an additional 1,824 shares in the last quarter. American Century Companies Inc. increased its stake in shares of Intercorp Financial Services by 62.6% during the second quarter. American Century Companies Inc. now owns 291,491 shares of the company’s stock worth $11,115,000 after purchasing an additional 112,185 shares in the last quarter. Finally, Nipun Capital L.P. raised its position in shares of Intercorp Financial Services by 11.1% during the 2nd quarter. Nipun Capital L.P. now owns 40,970 shares of the company’s stock worth $1,562,000 after purchasing an additional 4,100 shares during the last quarter.

Intercorp Financial Services Stock Up 2.2%

Intercorp Financial Services stock opened at $47.98 on Tuesday. Intercorp Financial Services Inc. has a 52-week low of $29.09 and a 52-week high of $52.58. The firm has a market capitalization of $5.49 billion, a price-to-earnings ratio of 9.95, a PEG ratio of 0.38 and a beta of 0.83. The company has a fifty day simple moving average of $47.89 and a 200-day simple moving average of $43.60.

Intercorp Financial Services (NYSE:IFS) last posted its quarterly earnings results on Wednesday, February 11th. The company reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.10 by $0.13. The firm had revenue of $532.56 million for the quarter, compared to the consensus estimate of $407.40 million. Intercorp Financial Services had a net margin of 28.74% and a return on equity of 16.69%. On average, research analysts anticipate that Intercorp Financial Services Inc. will post 4.23 EPS for the current fiscal year.

Analysts Set New Price Targets

IFS has been the topic of a number of research reports. JPMorgan Chase & Co. raised their price target on shares of Intercorp Financial Services from $42.00 to $48.00 and gave the company an “overweight” rating in a research note on Tuesday, December 16th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Intercorp Financial Services in a research note on Monday, December 29th. Finally, Wall Street Zen cut Intercorp Financial Services from a “buy” rating to a “hold” rating in a report on Tuesday, March 10th. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Intercorp Financial Services currently has an average rating of “Moderate Buy” and a consensus target price of $48.00.

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.