JPMorgan Chase & Co. Raises Intercorp Financial Services (NYSE:IFS) Price Target to $32.00

Intercorp Financial Services (NYSE:IFS) had its target price raised by JPMorgan Chase & Co. from $28.00 to $32.00 in a research report sent to investors on Tuesday, Benzinga reports. JPMorgan Chase & Co. currently has an overweight rating on the stock.

Intercorp Financial Services Stock Up 0.7 %

Intercorp Financial Services stock opened at $22.46 on Tuesday. The company has a 50 day moving average price of $26.13 and a 200 day moving average price of $22.55. Intercorp Financial Services has a 52 week low of $17.94 and a 52 week high of $30.59.

Intercorp Financial Services (NYSE:IFS) last posted its quarterly earnings data on Monday, February 12th. The company reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.26 by $0.40. Intercorp Financial Services had a net margin of 17.52% and a return on equity of 11.20%. The firm had revenue of $426.13 million during the quarter, compared to analyst estimates of $430.96 million. Research analysts predict that Intercorp Financial Services will post 3.38 earnings per share for the current year.

Intercorp Financial Services Cuts Dividend

The business also recently announced an annual dividend, which will be paid on Monday, April 29th. Shareholders of record on Thursday, April 18th will be paid a dividend of $1.00 per share. This represents a dividend yield of 4.18%. The ex-dividend date of this dividend is Wednesday, April 17th. Intercorp Financial Services’s dividend payout ratio (DPR) is currently 44.98%.

Insider Activity

In other Intercorp Financial Services news, major shareholder Peru Ltd Intercorp acquired 437,369 shares of Intercorp Financial Services stock in a transaction that occurred on Tuesday, March 26th. The stock was acquired at an average price of $19.60 per share, with a total value of $8,572,432.40. Following the purchase, the insider now owns 1,253,535 shares in the company, valued at $24,569,286. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Institutional Investors Weigh In On Intercorp Financial Services

Several institutional investors and hedge funds have recently modified their holdings of IFS. FMR LLC lifted its stake in shares of Intercorp Financial Services by 11.0% in the 3rd quarter. FMR LLC now owns 2,953,858 shares of the company’s stock valued at $66,521,000 after purchasing an additional 293,910 shares during the last quarter. Helikon Investments Ltd lifted its stake in shares of 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 purchasing an additional 199,359 shares during the last quarter. Millennium Management LLC acquired a new stake in shares of Intercorp Financial Services in the 4th quarter valued at $3,871,000. State Street Corp lifted its position in Intercorp Financial Services by 39.9% during the 2nd quarter. State Street Corp now owns 205,896 shares of the company’s stock worth $4,818,000 after acquiring an additional 58,681 shares during the last quarter. Finally, Principal Financial Group Inc. acquired a new position in Intercorp Financial Services during the 1st quarter worth $1,169,000.

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.