Intercorp Financial Services (NYSE:IFS) Hits New 52-Week High – Should You Buy?

Intercorp Financial Services Inc. (NYSE:IFS) shares reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $46.06 and last traded at $45.9070, with a volume of 264455 shares traded. The stock had previously closed at $45.01.

Analyst Upgrades and Downgrades

IFS has been the subject of a number of analyst reports. 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. Wall Street Zen downgraded shares of Intercorp Financial Services from a “strong-buy” rating to a “hold” rating in a research report on Saturday, November 15th. Zacks Research lowered shares of Intercorp Financial Services from a “strong-buy” rating to a “hold” rating in a report on Friday, October 10th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Intercorp Financial Services in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Intercorp Financial Services presently has an average rating of “Moderate Buy” and an average price target of $48.00.

Intercorp Financial Services Price Performance

The business’s 50 day moving average price is $41.87 and its 200 day moving average price is $40.36. The stock has a market capitalization of $5.25 billion, a P/E ratio of 9.73, a price-to-earnings-growth ratio of 0.34 and a beta of 0.84.

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

Institutional Trading of Intercorp Financial Services

Several large investors have recently modified their holdings of the company. Goldman Sachs Group Inc. lifted its holdings in Intercorp Financial Services by 332.5% in the first quarter. Goldman Sachs Group Inc. now owns 63,962 shares of the company’s stock valued at $2,119,000 after acquiring an additional 49,173 shares during the period. Jane Street Group LLC purchased a new stake in shares of Intercorp Financial Services during the 1st quarter valued at about $287,000. Sheets Smith Wealth Management bought a new position in shares of Intercorp Financial Services in the 2nd quarter worth approximately $411,000. Public Employees Retirement System of Ohio boosted its holdings in shares of Intercorp Financial Services by 9.4% in the second quarter. Public Employees Retirement System of Ohio now owns 61,148 shares of the company’s stock worth $2,332,000 after buying an additional 5,244 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. bought a new stake in Intercorp Financial Services during the second quarter valued at approximately $2,018,000.

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.