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

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

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Zacks Research raised Intercorp Financial Services from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. Weiss Ratings restated a “buy (b)” rating on shares of Intercorp Financial Services in a research report on Friday, May 22nd. JPMorgan Chase & Co. raised their price objective on Intercorp Financial Services from $48.00 to $56.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 20th. Finally, Wall Street Zen upgraded Intercorp Financial Services from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. One analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. Based on data from MarketBeat.com, Intercorp Financial Services has an average rating of “Buy” and an average target price of $56.00.

Intercorp Financial Services Stock Performance

The company has a market cap of $6.14 billion, a PE ratio of 10.33, a PEG ratio of 0.76 and a beta of 0.80. 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 company has a 50-day moving average of $48.19 and a 200-day moving average of $46.47.

Intercorp Financial Services (NYSE:IFS) last announced its earnings results on Tuesday, March 31st. The company reported $1.54 earnings per share (EPS) for the quarter. The company had revenue of $508.76 million for the quarter. Intercorp Financial Services had a return on equity of 17.49% and a net margin of 30.53%. As a group, analysts anticipate 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 disclosed an annual dividend, which was paid on Tuesday, May 5th. Shareholders of record on Friday, April 24th were given a $1.80 dividend. This is an increase from Intercorp Financial Services’s previous annual dividend of $1.00. This represents a yield of 401.0%. The ex-dividend date of this dividend was Friday, April 24th. Intercorp Financial Services’s payout ratio is presently 31.96%.

Institutional Trading of Intercorp Financial Services

Several hedge funds have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd raised its stake in shares of Intercorp Financial Services by 106.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 745 shares of the company’s stock valued at $32,000 after buying an additional 384 shares during the period. Geode Capital Management LLC raised its stake in shares of Intercorp Financial Services by 5.7% during the 4th quarter. Geode Capital Management LLC now owns 23,608 shares of the company’s stock valued at $1,000,000 after purchasing an additional 1,274 shares during the period. SG Americas Securities LLC raised its stake in shares of Intercorp Financial Services by 43.1% during the 4th quarter. SG Americas Securities LLC now owns 5,308 shares of the company’s stock valued at $225,000 after purchasing an additional 1,599 shares during the period. Blue Trust Inc. bought a new stake in shares of Intercorp Financial Services during the 4th quarter valued at $94,000. Finally, Sei Investments Co. raised its stake in shares of Intercorp Financial Services by 14.0% during the 1st quarter. Sei Investments Co. now owns 21,337 shares of the company’s stock valued at $1,071,000 after purchasing an additional 2,618 shares during the period.

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.