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

Intercorp Financial Services Inc. (NYSE:IFS) hit a new 52-week high on Thursday . The company traded as high as $43.69 and last traded at $43.6650, with a volume of 38748 shares. The stock had previously closed at $42.87.

Wall Street Analyst Weigh In

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

Intercorp Financial Services Stock Down 0.5%

The company has a market cap of $5.11 billion, a PE ratio of 9.47, a PEG ratio of 0.34 and a beta of 0.84. The company’s fifty day moving average is $41.46 and its 200-day moving average is $39.94.

Intercorp Financial Services (NYSE:IFS) last announced its earnings results on Friday, November 7th. The company reported $1.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.16 by ($0.04). The business 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%. Equities research analysts expect that Intercorp Financial Services Inc. will post 4.23 EPS for the current fiscal year.

Insider Activity at Intercorp Financial Services

In other Intercorp Financial Services news, major shareholder Peru Ltd Intercorp purchased 7,125 shares of the firm’s stock in a transaction that occurred on Tuesday, October 21st. The stock was purchased at an average cost of $19.65 per share, with a total value of $140,006.25. Following the purchase, the insider owned 3,100,737 shares of the company’s stock, valued at approximately $60,929,482.05. The trade was a 0.23% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Institutional Trading of Intercorp Financial Services

A number of hedge funds have recently added to or reduced their stakes in IFS. SG Americas Securities LLC grew its position in shares of Intercorp Financial Services by 43.1% in the 4th quarter. SG Americas Securities LLC now owns 5,308 shares of the company’s stock worth $225,000 after buying an additional 1,599 shares during the last quarter. JPMorgan Chase & Co. increased its position 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 acquiring an additional 107,290 shares during the period. Mirabella Financial Services LLP acquired a new position in shares of Intercorp Financial Services in the third quarter valued at about $3,924,000. PDT Partners LLC increased its stake in shares of Intercorp Financial Services by 7.5% in the third quarter. PDT Partners LLC now owns 87,857 shares of the company’s stock worth $3,544,000 after acquiring an additional 6,145 shares during the period. Finally, Voleon Capital Management LP acquired a new stake in Intercorp Financial Services during the third quarter worth about $753,000.

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.