JPMorgan Chase & Co. Issues Positive Forecast for Intercorp Financial Services (NYSE:IFS) Stock Price

Key Points

• JPMorgan raised Intercorp Financial Services’ price target from $56 to $62 while maintaining a neutral rating, implying 13.34% potential upside.
• Analyst sentiment is generally positive, with the stock carrying an average “Buy” rating and a $62 average target; ratings range from Strong Buy to Hold.
• Intercorp exceeded quarterly expectations, reporting $1.53 in EPS versus the $1.45 consensus and $554.15 million in revenue versus estimates of $520.46 million.

Intercorp Financial Services (NYSE:IFS - Get Free Report) had its target price lifted by stock analysts at JPMorgan Chase & Co. from $56.00 to $62.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price objective indicates a potential upside of 13.34% from the company's current price.

Several other research analysts have also recently issued reports on the company. Zacks Research raised Intercorp Financial Services from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 9th. Wall Street Zen lowered shares of Intercorp Financial Services from a "buy" rating to a "hold" rating in a research report on Saturday, August 15th. Finally, Weiss Ratings reissued a "buy (b)" rating on shares of Intercorp Financial Services in a research report on Wednesday, August 19th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of "Buy" and an average target price of $62.00.

Intercorp Financial Services Stock Down 0.3%

IFS traded down $0.17 during midday trading on Thursday, hitting $54.70. The company had a trading volume of 79,081 shares, compared to its average volume of 279,727. Intercorp Financial Services has a 52 week low of $38.29 and a 52 week high of $61.38. The company has a market capitalization of $6.08 billion, a price-to-earnings ratio of 10.00, a PEG ratio of 0.73 and a beta of 0.81. The stock's 50 day moving average price is $57.43 and its 200 day moving average price is $51.64. The company has a quick ratio of 1.08, a current ratio of 1.10 and a debt-to-equity ratio of 0.59.

Intercorp Financial Services (NYSE:IFS - Get Free Report) last announced its quarterly earnings results on Tuesday, August 11th. The company reported $1.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.08. Intercorp Financial Services had a return on equity of 17.06% and a net margin of 34.81%.The business had revenue of $554.15 million for the quarter, compared to analyst estimates of $520.46 million. On average, research analysts anticipate that Intercorp Financial Services will post 5.98 earnings per share for the current fiscal year.

Institutional Trading of Intercorp Financial Services

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. increased its holdings in shares of Intercorp Financial Services by 332.5% in the first quarter. Goldman Sachs Group Inc. now owns 63,962 shares of the company's stock worth $2,119,000 after purchasing an additional 49,173 shares during the period. Jane Street Group LLC purchased a new position in Intercorp Financial Services during the first quarter worth about $287,000. Geode Capital Management LLC grew its holdings in shares of Intercorp Financial Services by 9.7% during the second quarter. Geode Capital Management LLC now owns 20,649 shares of the company's stock worth $787,000 after purchasing an additional 1,824 shares in the last quarter. Qube Research & Technologies Ltd increased its position in shares of Intercorp Financial Services by 192.6% in the second quarter. Qube Research & Technologies Ltd now owns 143,345 shares of the company's stock worth $5,466,000 after purchasing an additional 94,360 shares during the last quarter. Finally, Sei Investments Co. raised its stake in Intercorp Financial Services by 381.7% in the second quarter. Sei Investments Co. now owns 34,866 shares of the company's stock valued at $1,329,000 after purchasing an additional 27,628 shares in 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.

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