Intercorp Financial Services (NYSE:IFS) Price Target Cut to $30.00 by Analysts at JPMorgan Chase & Co.

Intercorp Financial Services (NYSE:IFS) had its price objective dropped by analysts at JPMorgan Chase & Co. from $31.00 to $30.00 in a report released on Thursday, Benzinga reports. The firm currently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 22.35% from the stock’s previous close.

Intercorp Financial Services Stock Up 0.1 %

Shares of IFS opened at $24.52 on Thursday. The company has a market cap of $2.83 billion, a PE ratio of 11.05, a P/E/G ratio of 0.30 and a beta of 1.32. The business has a fifty day moving average of $23.49 and a 200 day moving average of $23.63. Intercorp Financial Services has a 52-week low of $17.94 and a 52-week high of $30.59. The company has a quick ratio of 1.12, a current ratio of 1.10 and a debt-to-equity ratio of 0.57.

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

Insider Buying and Selling

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

Institutional Trading of Intercorp Financial Services

Institutional investors and hedge funds have recently made changes to their positions in the business. Russell Investments Group Ltd. bought a new stake in shares of Intercorp Financial Services during the first quarter worth $31,000. Jump Financial LLC purchased a new position in shares of Intercorp Financial Services during the fourth quarter valued at $255,000. Acadian Asset Management LLC increased its stake in shares of Intercorp Financial Services by 487.0% during the first quarter. Acadian Asset Management LLC now owns 15,145 shares of the company’s stock valued at $357,000 after buying an additional 12,565 shares during the period. Cubist Systematic Strategies LLC purchased a new position in shares of Intercorp Financial Services during the second quarter valued at $387,000. Finally, Virtu Financial LLC purchased a new position in shares of Intercorp Financial Services during the first quarter valued at $458,000.

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.