Intercorp Financial Services (NYSE:IFS) Given New $48.00 Price Target at JPMorgan Chase & Co.

Intercorp Financial Services (NYSE:IFS) had its price target lifted by stock analysts at JPMorgan Chase & Co. from $42.00 to $48.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 17.45% from the stock’s current price.

IFS has been the topic of several other research reports. Wall Street Zen downgraded Intercorp Financial Services from a “strong-buy” rating to a “hold” rating in a research report on Saturday, November 15th. Zacks Research downgraded shares of Intercorp Financial Services from a “strong-buy” rating to a “hold” rating in a report on Friday, October 10th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Intercorp Financial Services in a report on Monday, December 8th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. Based on data from MarketBeat, Intercorp Financial Services has an average rating of “Moderate Buy” and a consensus target price of $48.00.

Intercorp Financial Services Stock Performance

NYSE IFS traded down $0.69 during trading on Tuesday, hitting $40.87. 28,094 shares of the company’s stock traded hands, compared to its average volume of 205,310. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a market capitalization of $4.68 billion, a price-to-earnings ratio of 8.66, a PEG ratio of 0.36 and a beta of 0.86. Intercorp Financial Services has a 12-month low of $28.11 and a 12-month high of $43.67. The business has a 50 day moving average of $40.89 and a 200-day moving average of $39.07.

Intercorp Financial Services (NYSE:IFS) last posted 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). The business had revenue of $452.42 million during the quarter, compared to analysts’ expectations of $441.08 million. Intercorp Financial Services had a return on equity of 17.27% and a net margin of 28.41%. As a group, equities research analysts anticipate that Intercorp Financial Services will post 4.23 earnings per share for the current fiscal year.

Insider Transactions at Intercorp Financial Services

In other news, major shareholder Peru Ltd Intercorp acquired 7,125 shares of the business’s stock in a transaction dated Tuesday, October 21st. The stock was purchased at an average cost of $19.65 per share, for a total transaction of $140,006.25. Following the acquisition, the insider owned 3,100,737 shares of the company’s stock, valued at $60,929,482.05. This trade represents a 0.23% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Hedge Funds Weigh In On Intercorp Financial Services

Large investors have recently bought and sold shares of the stock. Mirabella Financial Services LLP purchased a new stake in shares of Intercorp Financial Services in the 3rd quarter worth about $3,924,000. PDT Partners LLC lifted its holdings in Intercorp Financial Services by 7.5% in the third quarter. PDT Partners LLC now owns 87,857 shares of the company’s stock worth $3,544,000 after buying an additional 6,145 shares during the period. Voleon Capital Management LP purchased a new position in shares of Intercorp Financial Services during the 3rd quarter worth approximately $753,000. Verition Fund Management LLC raised its position in shares of Intercorp Financial Services by 38.6% in the 3rd quarter. Verition Fund Management LLC now owns 44,482 shares of the company’s stock worth $1,794,000 after acquiring an additional 12,386 shares in the last quarter. Finally, Qube Research & Technologies Ltd lifted its stake in shares of Intercorp Financial Services by 44.4% in the 3rd quarter. Qube Research & Technologies Ltd now owns 207,029 shares of the company’s stock valued at $8,352,000 after purchasing an additional 63,684 shares during the period.

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.