Intercorp Financial Services (NYSE:IFS) Given New $32.00 Price Target at JPMorgan Chase & Co.

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

Intercorp Financial Services Trading Down 5.5 %

Shares of IFS opened at $21.24 on Tuesday. Intercorp Financial Services has a 12 month low of $17.94 and a 12 month high of $30.59. The stock has a fifty day moving average price of $26.08 and a 200-day moving average price of $22.54.

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

Insider Activity at Intercorp Financial Services

In other news, major shareholder Peru Ltd Intercorp bought 437,369 shares of the business’s stock in a transaction that occurred on Tuesday, March 26th. The shares were purchased at an average cost 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

Institutional Investors Weigh In On Intercorp Financial Services

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. FMR LLC grew its position in Intercorp Financial Services by 11.0% during 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 during the period. Citigroup Inc. acquired a new stake in Intercorp Financial Services during the 3rd quarter worth about $848,000. Helikon Investments Ltd grew its position in Intercorp Financial Services by 119.9% during the 3rd quarter. Helikon Investments Ltd now owns 101,888 shares of the company’s stock worth $2,295,000 after purchasing an additional 55,550 shares during the period. Schroder Investment Management Group grew its position in Intercorp Financial Services by 3.7% during the 3rd quarter. Schroder Investment Management Group now owns 720,754 shares of the company’s stock worth $16,231,000 after purchasing an additional 25,601 shares during the period. Finally, Bank of New York Mellon Corp acquired a new stake in Intercorp Financial Services during the 1st quarter worth about $225,000.

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.