Intercorp Financial Services (NYSE:IFS) Sets New 1-Year High – What’s Next?

Intercorp Financial Services Inc. (NYSE:IFS) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $45.87 and last traded at $45.56, with a volume of 2856 shares changing hands. The stock had previously closed at $44.90.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on IFS shares. Zacks Research downgraded Intercorp Financial Services from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 10th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Intercorp Financial Services in a report on Monday, December 29th. Wall Street Zen downgraded shares of Intercorp Financial Services from a “strong-buy” rating to a “hold” rating in a report on Saturday, November 15th. Finally, JPMorgan Chase & Co. raised their price target on shares of Intercorp Financial Services from $42.00 to $48.00 and gave the company an “overweight” rating in a research report on Tuesday, December 16th. Two research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Intercorp Financial Services presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.00.

Intercorp Financial Services Stock Up 0.0%

The company’s 50-day moving average is $41.68 and its two-hundred day moving average is $40.22. The company has a market cap of $5.15 billion, a P/E ratio of 9.54, a price-to-earnings-growth ratio of 0.34 and a beta of 0.84.

Intercorp Financial Services (NYSE:IFS) last released its earnings results on Friday, November 7th. The company reported $1.12 earnings per share for the quarter, missing analysts’ consensus estimates of $1.16 by ($0.04). The company had revenue of $452.42 million for the quarter, compared to the consensus estimate of $441.08 million. Intercorp Financial Services had a net margin of 28.41% and a return on equity of 17.27%. On average, analysts anticipate that Intercorp Financial Services Inc. will post 4.23 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder Peru Ltd Intercorp purchased 7,125 shares of the company’s stock in a transaction dated Tuesday, October 21st. The shares were purchased at an average price of $19.65 per share, with a total value of $140,006.25. Following the transaction, the insider directly owned 3,100,737 shares of the company’s stock, valued at approximately $60,929,482.05. This represents a 0.23% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Institutional Investors Weigh In On Intercorp Financial Services

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Allianz Asset Management GmbH purchased a new stake in Intercorp Financial Services in the 2nd quarter worth approximately $283,000. Y Intercept Hong Kong Ltd bought a new position in shares of Intercorp Financial Services in the second quarter worth $516,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of Intercorp Financial Services by 91.2% in the second quarter. Arrowstreet Capital Limited Partnership now owns 502,912 shares of the company’s stock worth $19,176,000 after purchasing an additional 239,920 shares during the period. Fourth Sail Capital LP raised its position in shares of Intercorp Financial Services by 78.0% in the second quarter. Fourth Sail Capital LP now owns 458,974 shares of the company’s stock worth $17,501,000 after buying an additional 201,100 shares in the last quarter. Finally, Globeflex Capital L P grew its position in Intercorp Financial Services by 3,477.7% during the second quarter. Globeflex Capital L P now owns 365,498 shares of the company’s stock worth $13,936,000 after buying an additional 355,282 shares in the last quarter.

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.