Intercorp Financial Services (NYSE:IFS) Hits New 52-Week High – Still a Buy?

Intercorp Financial Services Inc. (NYSE:IFS) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $59.21 and last traded at $59.05, with a volume of 194901 shares trading hands. The stock had previously closed at $58.13.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Zacks Research lowered Intercorp Financial Services from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 10th. Weiss Ratings reiterated a “buy (b)” rating on shares of Intercorp Financial Services in a research report on Friday, May 22nd. JPMorgan Chase & Co. lowered shares of Intercorp Financial Services from an “overweight” rating to a “neutral” rating and set a $56.00 price objective on the stock. in a report on Monday, June 15th. Finally, Wall Street Zen upgraded shares of 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 Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $56.00.

Intercorp Financial Services Trading Up 1.6%

The company has a market cap of $6.56 billion, a P/E ratio of 10.86, a P/E/G ratio of 0.80 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. The business has a 50-day moving average price of $50.40 and a two-hundred day moving average price of $48.28.

Intercorp Financial Services (NYSE:IFS) last posted its quarterly earnings results on Tuesday, March 31st. The company reported $1.54 earnings per share (EPS) for the quarter. The business 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%. On average, analysts predict that Intercorp Financial Services Inc. will post 5.97 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Caitong International Asset Management Co. Ltd grew its position in shares of Intercorp Financial Services by 106.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 745 shares of the company’s stock worth $32,000 after buying an additional 384 shares during the period. Blue Trust Inc. bought a new stake in shares of Intercorp Financial Services during the fourth quarter worth approximately $94,000. DGS Capital Management LLC acquired a new position in Intercorp Financial Services in the first quarter valued at approximately $213,000. Centiva Capital LP acquired a new position in Intercorp Financial Services in the third quarter valued at approximately $216,000. Finally, SG Americas Securities LLC boosted its stake in Intercorp Financial Services by 43.1% in 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.