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

Intercorp Financial Services Inc. (NYSE:IFS)’s stock price reached 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. The stock had previously closed at $58.13.

Wall Street Analysts Forecast Growth

IFS has been the subject of several recent analyst reports. Zacks Research cut 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 note on Friday, May 22nd. JPMorgan Chase & Co. cut 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 equities research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $56.00.

Intercorp Financial Services Stock Performance

The firm has a fifty day simple moving average of $51.18 and a 200-day simple moving average of $48.62. 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 market cap of $6.36 billion, a PE ratio of 10.70, a price-to-earnings-growth ratio of 0.80 and a beta of 0.78.

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

Institutional Investors Weigh In On Intercorp Financial Services

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. grew its position in shares of Intercorp Financial Services by 332.5% during the first quarter. Goldman Sachs Group Inc. now owns 63,962 shares of the company’s stock worth $2,119,000 after acquiring an additional 49,173 shares during the last quarter. Jane Street Group LLC purchased a new stake in Intercorp Financial Services in the 1st quarter valued at $287,000. Geode Capital Management LLC boosted its stake in Intercorp Financial Services by 9.7% during the 2nd quarter. Geode Capital Management LLC now owns 20,649 shares of the company’s stock worth $787,000 after purchasing an additional 1,824 shares during the period. Qube Research & Technologies Ltd boosted its stake in Intercorp Financial Services by 192.6% during the 2nd quarter. Qube Research & Technologies Ltd now owns 143,345 shares of the company’s stock worth $5,466,000 after purchasing an additional 94,360 shares during the period. Finally, Sei Investments Co. grew its position in Intercorp Financial Services by 381.7% during the 2nd quarter. Sei Investments Co. now owns 34,866 shares of the company’s stock worth $1,329,000 after purchasing an additional 27,628 shares during 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.