Intercorp Financial Services (NYSE:IFS) Hits New 1-Year High – Time to Buy?

Intercorp Financial Services Inc. (NYSE:IFS)’s share price 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 changing hands. The stock had previously closed at $42.87.

Analyst Upgrades and Downgrades

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

Intercorp Financial Services Stock Performance

The business’s fifty day simple moving average is $41.38 and its 200 day simple moving average is $39.85. The stock has a market cap of $5.03 billion, a price-to-earnings ratio of 9.31, a price-to-earnings-growth ratio of 0.32 and a beta of 0.84.

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

Insider Buying and Selling at Intercorp Financial Services

In related news, major shareholder Peru Ltd Intercorp purchased 7,125 shares of the company’s stock in a transaction that occurred on Tuesday, October 21st. The stock was acquired at an average price of $19.65 per share, for a total transaction of $140,006.25. Following the completion of the purchase, the insider owned 3,100,737 shares in the company, valued at approximately $60,929,482.05. This represents a 0.23% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Hedge Funds Weigh In On Intercorp Financial Services

A number of hedge funds have recently bought and sold shares of IFS. Acadian Asset Management LLC increased its holdings in Intercorp Financial Services by 14.1% in the second quarter. Acadian Asset Management LLC now owns 986,309 shares of the company’s stock valued at $37,566,000 after buying an additional 122,219 shares during the last quarter. JPMorgan Chase & Co. increased its holdings 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 last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Intercorp Financial Services by 15.6% in 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. Schroder Investment Management Group raised its position in shares of Intercorp Financial Services by 9.5% during the 3rd quarter. Schroder Investment Management Group now owns 559,411 shares of the company’s stock valued at $22,567,000 after acquiring an additional 48,624 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its stake in Intercorp Financial Services by 24.4% during the third quarter. Principal Financial Group Inc. now owns 534,609 shares of the company’s stock worth $21,566,000 after purchasing an additional 104,792 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.