Intercorp Financial Services (NYSE:IFS – Get Free Report) had its price objective hoisted by stock analysts at JPMorgan Chase & Co. from $48.00 to $56.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “overweight” rating on the stock. JPMorgan Chase & Co.‘s price objective would suggest a potential upside of 20.67% from the stock’s previous close.
A number of other equities analysts have also weighed in on IFS. Wall Street Zen upgraded shares of Intercorp Financial Services from a “hold” rating to a “buy” rating in a report on Saturday. Zacks Research upgraded shares of Intercorp Financial Services from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Buy” and an average price target of $56.00.
Check Out Our Latest Stock Analysis on IFS
Intercorp Financial Services Stock Up 3.2%
Intercorp Financial Services (NYSE:IFS – Get Free Report) last announced its quarterly earnings results on Tuesday, March 31st. The company reported $1.54 earnings per share for the quarter. The company had revenue of $508.76 million for the quarter. Intercorp Financial Services had a net margin of 30.53% and a return on equity of 17.49%. Analysts forecast that Intercorp Financial Services will post 5.43 earnings per share for the current year.
Hedge Funds Weigh In On Intercorp Financial Services
A number of hedge funds have recently made changes to their positions in IFS. Goldman Sachs Group Inc. raised its stake in shares of Intercorp Financial Services by 332.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 63,962 shares of the company’s stock valued at $2,119,000 after acquiring an additional 49,173 shares during the period. Jane Street Group LLC purchased a new position in shares of Intercorp Financial Services in the 1st quarter valued at $287,000. Geode Capital Management LLC raised its stake in shares of Intercorp Financial Services by 9.7% in the 2nd quarter. Geode Capital Management LLC now owns 20,649 shares of the company’s stock valued at $787,000 after acquiring an additional 1,824 shares during the period. Qube Research & Technologies Ltd raised its stake in shares of Intercorp Financial Services by 192.6% in the 2nd quarter. Qube Research & Technologies Ltd now owns 143,345 shares of the company’s stock valued at $5,466,000 after acquiring an additional 94,360 shares during the period. Finally, Sei Investments Co. raised its stake in shares of Intercorp Financial Services by 381.7% in the 2nd quarter. Sei Investments Co. now owns 34,866 shares of the company’s stock valued at $1,329,000 after acquiring an additional 27,628 shares during the period.
About Intercorp Financial Services
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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