Intercorp Financial Services (NYSE:IFS) Hits New 1-Year High – Here’s Why

Intercorp Financial Services Inc. (NYSE:IFS) reached a new 52-week high on Wednesday . The stock traded as high as $53.00 and last traded at $51.7850, with a volume of 12002 shares trading hands. The stock had previously closed at $50.06.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on IFS shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Intercorp Financial Services in a report on Monday, December 29th. JPMorgan Chase & Co. raised their price objective on shares of Intercorp Financial Services from $42.00 to $48.00 and gave the company an “overweight” rating in a research note on Tuesday, December 16th. Finally, Wall Street Zen cut shares of Intercorp Financial Services from a “buy” rating to a “hold” rating in a research note on Tuesday, March 10th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat, Intercorp Financial Services currently has an average rating of “Moderate Buy” and a consensus price target of $48.00.

Intercorp Financial Services Trading Up 3.7%

The firm’s 50 day simple moving average is $48.52 and its 200-day simple moving average is $44.23. The stock has a market capitalization of $5.94 billion, a price-to-earnings ratio of 10.77, a price-to-earnings-growth ratio of 0.40 and a beta of 0.85.

Intercorp Financial Services Increases Dividend

The firm also recently declared an annual dividend, which will be paid on Tuesday, May 5th. Shareholders of record on Friday, April 24th will be paid a $1.80 dividend. This represents a yield of 358.0%. The ex-dividend date is Friday, April 24th. This is an increase from Intercorp Financial Services’s previous annual dividend of $1.00. Intercorp Financial Services’s dividend payout ratio (DPR) is presently 35.48%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of IFS. Goldman Sachs Group Inc. increased its stake in shares of Intercorp Financial Services by 332.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 63,962 shares of the company’s stock worth $2,119,000 after purchasing an additional 49,173 shares during the last quarter. Jane Street Group LLC acquired a new position in shares of Intercorp Financial Services during the 1st quarter worth about $287,000. Geode Capital Management LLC increased its stake in shares of 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 last quarter. Marshall Wace LLP increased its stake in shares of Intercorp Financial Services by 108.1% during the 2nd quarter. Marshall Wace LLP now owns 519,319 shares of the company’s stock worth $19,802,000 after purchasing an additional 269,712 shares during the last quarter. Finally, Qube Research & Technologies Ltd increased its stake in shares of 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 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.