Intercorp Financial Services (NYSE:IFS) Hits New 1-Year High – Here’s Why

Intercorp Financial Services Inc. (NYSE:IFS) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $57.20 and last traded at $57.03, with a volume of 11377 shares. The stock had previously closed at $55.81.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on IFS shares. Zacks Research downgraded shares of Intercorp Financial Services from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 10th. JPMorgan Chase & Co. downgraded shares of Intercorp Financial Services from an “overweight” rating to a “neutral” rating and set a $56.00 price target on the stock. in a report on Monday. Wall Street Zen raised shares of Intercorp Financial Services from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. Finally, Weiss Ratings reaffirmed a “buy (b)” rating on shares of Intercorp Financial Services in a report on Friday, May 22nd. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $56.00.

Intercorp Financial Services Stock Performance

The business’s fifty day moving average price is $48.52 and its 200-day moving average price is $46.81. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.08 and a current ratio of 1.08. The stock has a market cap of $6.41 billion, a PE ratio of 10.79, a P/E/G ratio of 0.77 and a beta of 0.80.

Intercorp Financial Services (NYSE:IFS) last announced its quarterly earnings results on Tuesday, March 31st. The company reported $1.54 earnings per share (EPS) for the quarter. The firm 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%. As a group, equities research analysts forecast that Intercorp Financial Services Inc. will post 5.82 EPS for the current fiscal year.

Intercorp Financial Services Increases Dividend

The firm also recently disclosed an annual dividend, which was paid on Tuesday, May 5th. Investors of record on Friday, April 24th were issued a $1.80 dividend. The ex-dividend date of this dividend was Friday, April 24th. This is a positive change 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 31.96%.

Hedge Funds Weigh In On Intercorp Financial Services

Several large investors have recently added to or reduced their stakes in IFS. Caitong International Asset Management Co. Ltd lifted its holdings in Intercorp Financial Services by 106.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 745 shares of the company’s stock valued at $32,000 after purchasing an additional 384 shares in the last quarter. Blue Trust Inc. bought a new position in Intercorp Financial Services during the fourth quarter valued at $94,000. DGS Capital Management LLC bought a new position in Intercorp Financial Services during the first quarter valued at $213,000. Centiva Capital LP bought a new position in Intercorp Financial Services during the third quarter valued at $216,000. Finally, SG Americas Securities LLC increased its position in Intercorp Financial Services by 43.1% during the fourth quarter. SG Americas Securities LLC now owns 5,308 shares of the company’s stock valued at $225,000 after acquiring an additional 1,599 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.