JPMorgan Chase & Co. Acquires 107,290 Shares of Intercorp Financial Services Inc. $IFS

JPMorgan Chase & Co. grew its stake in Intercorp Financial Services Inc. (NYSE:IFS) by 22.3% in the 3rd quarter, Holdings Channel.com reports. The fund owned 589,019 shares of the company’s stock after purchasing an additional 107,290 shares during the quarter. JPMorgan Chase & Co.’s holdings in Intercorp Financial Services were worth $23,761,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Allianz Asset Management GmbH boosted its position in Intercorp Financial Services by 165.3% during the third quarter. Allianz Asset Management GmbH now owns 19,692 shares of the company’s stock valued at $794,000 after purchasing an additional 12,269 shares during the last quarter. Principal Financial Group Inc. raised its stake in shares of Intercorp Financial Services by 24.4% during the 3rd quarter. Principal Financial Group Inc. now owns 534,609 shares of the company’s stock worth $21,566,000 after purchasing an additional 104,792 shares in the last quarter. Lingohr Asset Management GmbH boosted its holdings in shares of Intercorp Financial Services by 29.1% in the 3rd quarter. Lingohr Asset Management GmbH now owns 52,335 shares of the company’s stock valued at $2,093,000 after buying an additional 11,800 shares during the last quarter. Teacher Retirement System of Texas grew its stake in shares of Intercorp Financial Services by 39.0% in the third quarter. Teacher Retirement System of Texas now owns 21,237 shares of the company’s stock valued at $857,000 after buying an additional 5,963 shares in the last quarter. Finally, Benjamin Edwards Inc. bought a new position in shares of Intercorp Financial Services in the third quarter valued at $431,000.

Analyst Ratings Changes

Several research firms have issued reports on IFS. JPMorgan Chase & Co. upped their price target on shares of Intercorp Financial Services from $42.00 to $48.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 16th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Intercorp Financial Services in a report on Monday, December 29th. Finally, Wall Street Zen upgraded shares of Intercorp Financial Services from a “hold” rating to a “buy” rating in a research note on Monday. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $48.00.

Intercorp Financial Services Price Performance

Shares of IFS opened at $48.40 on Monday. The company’s 50-day moving average is $46.83 and its 200-day moving average is $42.82. The firm has a market capitalization of $5.54 billion, a PE ratio of 10.04, a PEG ratio of 0.39 and a beta of 0.83. Intercorp Financial Services Inc. has a fifty-two week low of $29.09 and a fifty-two week high of $52.58.

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.