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

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

Wall Street Analysts Forecast Growth

IFS has been the topic of several research analyst reports. Wall Street Zen lowered Intercorp Financial Services from a “buy” rating to a “hold” rating in a report on Tuesday, March 10th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Intercorp Financial Services in a research note on Monday, December 29th. Finally, JPMorgan Chase & Co. lifted their price objective on Intercorp Financial Services from $42.00 to $48.00 and gave the company an “overweight” rating in a research note on Tuesday, December 16th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $48.00.

Intercorp Financial Services Stock Up 3.7%

The firm has a market capitalization of $5.94 billion, a price-to-earnings ratio of 10.77, a P/E/G ratio of 0.40 and a beta of 0.85. The stock has a 50 day moving average of $48.52 and a 200 day moving average of $44.23.

Intercorp Financial Services Increases Dividend

The business also recently announced 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. The ex-dividend date is Friday, April 24th. This is an increase from Intercorp Financial Services’s previous annual dividend of $1.00. This represents a yield of 358.0%. Intercorp Financial Services’s payout ratio is presently 35.48%.

Hedge Funds Weigh In On Intercorp Financial Services

Hedge funds and other institutional investors have recently made changes to their positions in the business. Caitong International Asset Management Co. Ltd lifted its position in Intercorp Financial Services by 106.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 745 shares of the company’s stock worth $32,000 after purchasing an additional 384 shares during the period. Geode Capital Management LLC grew its holdings in shares of Intercorp Financial Services by 5.7% during the 4th quarter. Geode Capital Management LLC now owns 23,608 shares of the company’s stock valued at $1,000,000 after acquiring an additional 1,274 shares in the last quarter. SG Americas Securities LLC boosted its holdings in Intercorp Financial Services by 43.1% in the fourth quarter. SG Americas Securities LLC now owns 5,308 shares of the company’s stock worth $225,000 after purchasing an additional 1,599 shares in the last quarter. Blue Trust Inc. bought a new stake in Intercorp Financial Services during the fourth quarter valued at about $94,000. Finally, Employees Retirement System of Texas boosted its position in shares of Intercorp Financial Services by 47.6% in the fourth quarter. Employees Retirement System of Texas now owns 9,761 shares of the company’s stock valued at $413,000 after acquiring an additional 3,149 shares during the period.

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.