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

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

A number of other equities research analysts have also recently commented on IFS. Zacks Research cut Intercorp Financial Services from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 10th. Weiss Ratings reiterated a “buy (b)” rating on shares of Intercorp Financial Services in a research note on Monday, December 8th. Finally, Wall Street Zen lowered shares of Intercorp Financial Services from a “strong-buy” rating to a “hold” rating in a research note on Saturday, November 15th. Two analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Intercorp Financial Services presently has a consensus rating of “Moderate Buy” and an average target price of $48.00.

Intercorp Financial Services Stock Down 1.7%

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

Intercorp Financial Services (NYSE:IFS) last posted its quarterly 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 company had revenue of $452.42 million during the quarter, compared to analysts’ expectations of $441.08 million. As a group, equities research analysts forecast that Intercorp Financial Services will post 4.23 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder Peru Ltd Intercorp purchased 7,125 shares of the company’s stock in a transaction dated Tuesday, October 21st. The shares were purchased at an average cost of $19.65 per share, for a total transaction of $140,006.25. Following the purchase, 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 position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Centiva Capital LP bought a new position in shares of Intercorp Financial Services in the 3rd quarter worth approximately $216,000. Pinnacle Associates Ltd. purchased a new stake in Intercorp Financial Services during the third quarter valued at approximately $275,000. Allianz Asset Management GmbH bought a new position in Intercorp Financial Services in the second quarter worth approximately $283,000. Jane Street Group LLC purchased a new stake in shares of Intercorp Financial Services in the 1st quarter worth $287,000. Finally, Dynamic Technology Lab Private Ltd purchased a new stake in Intercorp Financial Services in the third quarter worth about $325,000.

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.