Intercorp Financial Services (NYSE:IFS) Sets New 12-Month High – Time to Buy?

Intercorp Financial Services Inc. (NYSE:IFS) reached 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.

Analysts Set New Price Targets

IFS has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. downgraded 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. Weiss Ratings reissued a “buy (b)” rating on shares of Intercorp Financial Services in a research report on Friday, May 22nd. Zacks Research lowered shares of Intercorp Financial Services from a “strong-buy” rating to a “hold” rating in a report on Wednesday, June 10th. Finally, Wall Street Zen raised 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’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $56.00.

Intercorp Financial Services Trading Down 0.5%

The stock has a market cap of $6.36 billion, a PE ratio of 10.70, a PEG ratio of 0.79 and a beta of 0.80. The stock’s fifty day moving average price is $48.83 and its 200 day moving average price is $47.05. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.61.

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. The firm 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, sell-side analysts forecast that Intercorp Financial Services Inc. will post 5.97 EPS for the current year.

Intercorp Financial Services Increases Dividend

The company also recently disclosed an annual dividend, which was paid on Tuesday, May 5th. Stockholders of record on Friday, April 24th were paid a $1.80 dividend. This represents a dividend yield of 401.0%. This is a boost from Intercorp Financial Services’s previous annual dividend of $1.00. The ex-dividend date of this dividend was Friday, April 24th. Intercorp Financial Services’s dividend payout ratio is currently 31.96%.

Hedge Funds Weigh In On Intercorp Financial Services

Several large investors have recently made changes to their positions in the business. Schroder Investment Management Group grew its position in shares of Intercorp Financial Services by 34.2% during the fourth quarter. Schroder Investment Management Group now owns 750,628 shares of the company’s stock worth $31,797,000 after purchasing an additional 191,217 shares in the last quarter. Millennium Management LLC boosted its stake in Intercorp Financial Services by 66.7% in the 4th quarter. Millennium Management LLC now owns 639,381 shares of the company’s stock worth $27,084,000 after purchasing an additional 255,753 shares during the period. JPMorgan Chase & Co. grew its position in shares of Intercorp Financial Services by 7.2% during the fourth quarter. JPMorgan Chase & Co. now owns 631,168 shares of the company’s stock valued at $26,736,000 after purchasing an additional 42,149 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Intercorp Financial Services by 15.6% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 581,245 shares of the company’s stock valued at $23,447,000 after acquiring an additional 78,333 shares during the last quarter. Finally, William Blair Investment Management LLC raised its stake in Intercorp Financial Services by 18.7% during the fourth quarter. William Blair Investment Management LLC now owns 446,887 shares of the company’s stock valued at $18,930,000 after purchasing an additional 70,288 shares in 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.