JPMorgan Chase & Co. Trims Intercorp Financial Services (NYSE:IFS) Target Price to $30.00

Intercorp Financial Services (NYSE:IFS) had its target price reduced by JPMorgan Chase & Co. from $31.00 to $30.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s target price would indicate a potential upside of 22.30% from the company’s current price.

Intercorp Financial Services Stock Up 0.8 %

Shares of IFS stock opened at $24.53 on Thursday. Intercorp Financial Services has a twelve month low of $17.94 and a twelve month high of $30.59. The stock has a market cap of $2.83 billion, a P/E ratio of 11.05, a P/E/G ratio of 0.29 and a beta of 1.32. The stock has a 50 day moving average of $23.40 and a 200 day moving average of $23.67. The company has a current ratio of 1.10, a quick ratio of 1.12 and a debt-to-equity ratio of 0.57.

Intercorp Financial Services (NYSE:IFS) last posted its earnings results on Wednesday, August 14th. The company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.09. Intercorp Financial Services had a net margin of 14.94% and a return on equity of 8.97%. The firm had revenue of $414.92 million during the quarter, compared to analyst estimates of $423.35 million. As a group, sell-side analysts expect that Intercorp Financial Services will post 3.17 EPS for the current year.

Insiders Place Their Bets

In other Intercorp Financial Services news, major shareholder Peru Ltd Intercorp bought 342,154 shares of the company’s stock in a transaction dated Thursday, June 27th. The shares were purchased at an average cost of $19.67 per share, for a total transaction of $6,730,169.18. Following the transaction, the insider now directly owns 1,595,688 shares of the company’s stock, valued at $31,387,182.96. The purchase was disclosed in a filing with the SEC, which is available at this hyperlink.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Jump Financial LLC acquired a new position in Intercorp Financial Services during the fourth quarter worth $255,000. Helikon Investments Ltd lifted its stake in Intercorp Financial Services by 195.7% in the 4th quarter. Helikon Investments Ltd now owns 301,247 shares of the company’s stock valued at $6,612,000 after buying an additional 199,359 shares in the last quarter. Schroder Investment Management Group boosted its holdings in Intercorp Financial Services by 4.4% in the 4th quarter. Schroder Investment Management Group now owns 752,596 shares of the company’s stock worth $16,519,000 after buying an additional 31,842 shares during the last quarter. Dodge & Cox purchased a new stake in Intercorp Financial Services during the 4th quarter worth approximately $593,000. Finally, Russell Investments Group Ltd. acquired a new position in shares of Intercorp Financial Services during the first quarter valued at approximately $31,000.

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.