JPMorgan Chase & Co. Forecasts Strong Price Appreciation for Intercorp Financial Services (NYSE:IFS) Stock

Intercorp Financial Services (NYSE:IFS) had its price target hoisted by stock analysts at JPMorgan Chase & Co. from $48.00 to $56.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 20.67% from the company’s previous close.

Several other equities research analysts also recently issued reports on IFS. Wall Street Zen raised shares of Intercorp Financial Services from a “hold” rating to a “buy” rating in a research note on Saturday. Zacks Research raised shares of Intercorp Financial Services from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Buy” and an average price target of $56.00.

Intercorp Financial Services Stock Performance

Intercorp Financial Services stock opened at $46.41 on Wednesday. Intercorp Financial Services has a 12-month low of $34.20 and a 12-month high of $53.00. The company has a market capitalization of $5.15 billion, a price-to-earnings ratio of 8.67, a price-to-earnings-growth ratio of 0.68 and a beta of 0.77. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.08 and a quick ratio of 1.08. The firm’s fifty day moving average price is $47.20 and its 200 day moving average price is $45.41.

Intercorp Financial Services (NYSE:IFS) last released its quarterly earnings results on Tuesday, March 31st. The company reported $1.54 earnings per share (EPS) for the quarter. Intercorp Financial Services had a net margin of 30.53% and a return on equity of 17.49%. The firm had revenue of $508.76 million for the quarter. On average, research analysts forecast that Intercorp Financial Services will post 5.43 EPS for the current fiscal year.

Institutional Investors Weigh In On Intercorp Financial Services

A number of institutional investors have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd grew its position in shares of Intercorp Financial Services by 106.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 745 shares of the company’s stock valued at $32,000 after buying an additional 384 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Intercorp Financial Services by 5.7% during the 4th quarter. Geode Capital Management LLC now owns 23,608 shares of the company’s stock valued at $1,000,000 after buying an additional 1,274 shares during the last quarter. SG Americas Securities LLC grew its position in shares of Intercorp Financial Services by 43.1% during the 4th quarter. SG Americas Securities LLC now owns 5,308 shares of the company’s stock valued at $225,000 after buying an additional 1,599 shares during the last quarter. Blue Trust Inc. bought a new stake in shares of Intercorp Financial Services during the 4th quarter valued at about $94,000. Finally, Sei Investments Co. grew its position in shares of Intercorp Financial Services by 14.0% during the 1st quarter. Sei Investments Co. now owns 21,337 shares of the company’s stock valued at $1,071,000 after buying an additional 2,618 shares during the last quarter.

Intercorp Financial Services Company Profile

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.