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

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

Analysts Set New Price Targets

A number of analysts recently issued reports on IFS shares. Wall Street Zen upgraded Intercorp Financial Services from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Zacks Research raised Intercorp Financial Services from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 9th. JPMorgan Chase & Co. lowered Intercorp Financial Services from an “overweight” rating to a “neutral” rating and set a $56.00 target price for the company. in a 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 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. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $56.00.

Intercorp Financial Services Trading Up 0.3%

The firm has a market cap of $6.66 billion, a P/E ratio of 11.21, a PEG ratio of 0.83 and a beta of 0.78. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.08 and a quick ratio of 1.08. The stock has a 50 day moving average of $52.39 and a 200 day moving average of $49.11.

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

Hedge Funds Weigh In On Intercorp Financial Services

A number of large investors have recently modified their holdings of the company. JPMorgan Chase & Co. boosted its stake in shares of Intercorp Financial Services by 22.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 589,019 shares of the company’s stock valued at $23,761,000 after purchasing an additional 107,290 shares in the last quarter. Matthews International Capital Management LLC bought a new position in shares of Intercorp Financial Services during the 1st quarter valued at $3,634,000. Mirabella Financial Services LLP purchased a new position in Intercorp Financial Services in the 3rd quarter worth $3,924,000. Channing Global Advisors LLC purchased a new position in Intercorp Financial Services in the 4th quarter worth $615,000. Finally, Globeflex Capital L P raised its position in Intercorp Financial Services by 17.5% in the 4th quarter. Globeflex Capital L P now owns 429,545 shares of the company’s stock worth $18,196,000 after purchasing an additional 64,047 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.