Intercorp Financial Services (NYSE:IFS) Reaches New 1-Year High – Time to Buy?

Intercorp Financial Services Inc. (NYSE:IFS) shares hit a new 52-week high during trading on Monday . The stock traded as high as $61.25 and last traded at $60.85, with a volume of 223887 shares. The stock had previously closed at $60.68.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on IFS. Zacks Research upgraded Intercorp Financial Services from a “hold” rating to a “strong-buy” rating in a research report on Thursday. Wall Street Zen upgraded Intercorp Financial Services from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. JPMorgan Chase & Co. cut shares of Intercorp Financial Services from an “overweight” rating to a “neutral” rating and set a $56.00 target price for the company. in a research report on Monday, June 15th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Intercorp Financial Services in a research report on Friday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and an average target price of $56.00.

Intercorp Financial Services Stock Down 0.5%

The business’s 50 day simple moving average is $51.78 and its 200 day simple moving average is $48.87. The company has a market capitalization of $6.70 billion, a PE ratio of 11.27, a price-to-earnings-growth ratio of 0.84 and a beta of 0.78. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.61.

Intercorp Financial Services (NYSE:IFS) last issued its quarterly earnings results on Tuesday, March 31st. The company reported $1.54 EPS for the quarter. Intercorp Financial Services had a net margin of 30.53% and a return on equity of 17.49%. The business had revenue of $508.76 million during the quarter. As a group, analysts forecast that Intercorp Financial Services Inc. will post 5.97 EPS for the current year.

Institutional Trading of Intercorp Financial Services

Large investors have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. boosted its holdings in Intercorp Financial Services by 332.5% in the first quarter. Goldman Sachs Group Inc. now owns 63,962 shares of the company’s stock worth $2,119,000 after purchasing an additional 49,173 shares in the last quarter. Jane Street Group LLC bought a new stake in Intercorp Financial Services during the first quarter valued at about $287,000. Geode Capital Management LLC grew its position in shares of Intercorp Financial Services by 9.7% in the second quarter. Geode Capital Management LLC now owns 20,649 shares of the company’s stock valued at $787,000 after purchasing an additional 1,824 shares during the last quarter. Qube Research & Technologies Ltd increased its stake in shares of Intercorp Financial Services by 192.6% in the second quarter. Qube Research & Technologies Ltd now owns 143,345 shares of the company’s stock worth $5,466,000 after purchasing an additional 94,360 shares during the period. Finally, Sei Investments Co. lifted its position in shares of Intercorp Financial Services by 381.7% during the 2nd quarter. Sei Investments Co. now owns 34,866 shares of the company’s stock worth $1,329,000 after purchasing an additional 27,628 shares during the last quarter.

Intercorp Financial Services Company Profile

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.