Intercorp Financial Services (NYSE:IFS – Free Report) had its price objective increased by JPMorgan Chase & Co. from $28.00 to $32.00 in a research report report published on Tuesday morning, Benzinga reports. The firm currently has an overweight rating on the stock.
Intercorp Financial Services Stock Performance
Shares of IFS stock opened at $21.69 on Tuesday. The firm has a fifty day simple moving average of $26.03 and a 200-day simple moving average of $22.54. Intercorp Financial Services has a twelve month low of $17.94 and a twelve month high of $30.59.
Intercorp Financial Services (NYSE:IFS – Get Free Report) last announced its earnings results 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 business had revenue of $426.13 million during the quarter, compared to the consensus estimate of $430.96 million. Intercorp Financial Services had a net margin of 17.52% and a return on equity of 11.20%. As a group, equities analysts predict that Intercorp Financial Services will post 3.38 earnings per share for the current fiscal year.
Intercorp Financial Services Cuts Dividend
Insider Activity
In related news, major shareholder Peru Ltd Intercorp purchased 437,369 shares of the business’s stock in a transaction that occurred on Tuesday, March 26th. The shares were purchased at an average cost of $19.60 per share, with a total value of $8,572,432.40. Following the completion of the acquisition, the insider now directly owns 1,253,535 shares of the company’s stock, valued at approximately $24,569,286. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Institutional Trading of Intercorp Financial Services
Several institutional investors have recently added to or reduced their stakes in IFS. Bank of New York Mellon Corp acquired a new stake in Intercorp Financial Services in the first quarter valued at $225,000. American Century Companies Inc. raised its holdings in shares of Intercorp Financial Services by 42.1% during the first quarter. American Century Companies Inc. now owns 24,371 shares of the company’s stock worth $842,000 after purchasing an additional 7,216 shares during the period. BlackRock Inc. raised its holdings in shares of Intercorp Financial Services by 6.5% during the first quarter. BlackRock Inc. now owns 806,575 shares of the company’s stock worth $27,867,000 after purchasing an additional 49,574 shares during the period. Dimensional Fund Advisors LP acquired a new stake in shares of Intercorp Financial Services during the first quarter worth $609,000. Finally, Prudential Financial Inc. acquired a new stake in shares of Intercorp Financial Services during the first quarter worth $487,000.
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.
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