Intercorp Financial Services (NYSE:IFS) Sets New 52-Week High – Time to Buy?

Intercorp Financial Services Inc. (NYSE:IFS) reached a new 52-week high during trading on Wednesday . The stock traded as high as $53.84 and last traded at $52.5070, with a volume of 725332 shares changing hands. The stock had previously closed at $47.16.

Analyst Ratings Changes

IFS has been the topic of a number of recent research reports. Wall Street Zen upgraded Intercorp Financial Services from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. JPMorgan Chase & Co. increased their target price on Intercorp Financial Services from $48.00 to $56.00 and gave the stock an “overweight” rating in a report on Wednesday, May 20th. Weiss Ratings reiterated a “buy (b)” rating on shares of Intercorp Financial Services in a report on Friday, May 22nd. Finally, Zacks Research upgraded Intercorp Financial Services from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 12th. One investment 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, Intercorp Financial Services currently has a consensus rating of “Buy” and a consensus target price of $56.00.

Intercorp Financial Services Trading Up 11.3%

The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.61. The firm’s 50-day moving average price is $47.98 and its 200 day moving average price is $46.27. The company has a market capitalization of $5.83 billion, a P/E ratio of 9.81, a P/E/G ratio of 0.67 and a beta of 0.80.

Intercorp Financial Services (NYSE:IFS) last posted its earnings results on Tuesday, March 31st. The company reported $1.54 EPS for the quarter. The company had revenue of $508.76 million during the quarter. Intercorp Financial Services had a net margin of 30.53% and a return on equity of 17.49%. As a group, equities research analysts predict that Intercorp Financial Services Inc. will post 5.82 earnings per share for the current year.

Intercorp Financial Services Increases Dividend

The firm also recently announced an annual dividend, which was paid on Tuesday, May 5th. Stockholders of record on Friday, April 24th were given a dividend of $1.80 per share. The ex-dividend date of this dividend was Friday, April 24th. This is a boost from Intercorp Financial Services’s previous annual dividend of $1.00. This represents a dividend yield of 401.0%. Intercorp Financial Services’s payout ratio is presently 31.96%.

Institutional Investors Weigh In On Intercorp Financial Services

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. grew its position in Intercorp Financial Services by 332.5% in the 1st 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 in the 1st quarter worth about $287,000. Geode Capital Management LLC grew its position in Intercorp Financial Services by 9.7% in the 2nd quarter. Geode Capital Management LLC now owns 20,649 shares of the company’s stock worth $787,000 after purchasing an additional 1,824 shares in the last quarter. Qube Research & Technologies Ltd grew its position in Intercorp Financial Services by 192.6% in the 2nd 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 in the last quarter. Finally, Sei Investments Co. grew its position in Intercorp Financial Services by 381.7% in 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 in 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.