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

Intercorp Financial Services (NYSE:IFS) had its price objective boosted by JPMorgan Chase & Co. from $28.00 to $32.00 in a report published on Tuesday, Benzinga reports. The brokerage currently has an overweight rating on the stock.

Intercorp Financial Services Price Performance

NYSE IFS opened at $21.69 on Tuesday. The company has a 50 day simple moving average of $26.03 and a 200-day simple moving average of $22.54. 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 issued its quarterly earnings data on Monday, February 12th. The company reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.40. The firm had revenue of $426.13 million for the quarter, compared to analyst estimates of $430.96 million. Intercorp Financial Services had a net margin of 17.52% and a return on equity of 11.20%. Research analysts predict that Intercorp Financial Services will post 3.38 EPS for the current fiscal year.

Intercorp Financial Services Cuts Dividend

The firm also recently disclosed an annual dividend, which will be paid on Monday, April 29th. Investors of record on Thursday, April 18th will be given a dividend of $1.00 per share. This represents a yield of 4.18%. The ex-dividend date is Wednesday, April 17th. Intercorp Financial Services’s payout ratio is presently 44.98%.

Insider Activity at Intercorp Financial Services

In other Intercorp Financial Services news, major shareholder Peru Ltd Intercorp acquired 437,369 shares of the business’s stock in a transaction that occurred on Tuesday, March 26th. The shares were purchased at an average price of $19.60 per share, with a total value of $8,572,432.40. Following the completion of the transaction, the insider now owns 1,253,535 shares in the company, valued at $24,569,286. The acquisition was disclosed in a document filed with the SEC, which is available at this link.

Hedge Funds Weigh In On Intercorp Financial Services

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. FMR LLC grew its holdings in Intercorp Financial Services by 11.0% during the third 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. BlackRock Inc. grew its holdings in Intercorp Financial Services by 6.5% during the first quarter. BlackRock Inc. now owns 806,575 shares of the company’s stock valued at $27,867,000 after purchasing an additional 49,574 shares during the last quarter. Schroder Investment Management Group grew its holdings in Intercorp Financial Services by 4.4% during the fourth quarter. Schroder Investment Management Group now owns 752,596 shares of the company’s stock valued at $16,519,000 after purchasing an additional 31,842 shares during the last quarter. Helikon Investments Ltd grew its holdings in Intercorp Financial Services by 195.7% during the fourth 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. Finally, State Street Corp grew its holdings in Intercorp Financial Services by 11.4% during the third quarter. State Street Corp now owns 229,431 shares of the company’s stock valued at $4,602,000 after purchasing an additional 23,535 shares during the last quarter.

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.