Intercorp Financial Services (NYSE:IFS) Reaches New 52-Week High – Here’s What Happened

Shares of Intercorp Financial Services Inc. (NYSE:IFS) hit a new 52-week high on Wednesday . The company traded as high as $58.26 and last traded at $57.58, with a volume of 18197 shares. The stock had previously closed at $56.96.

Analyst Ratings Changes

A number of research firms have issued reports on IFS. Weiss Ratings restated a “buy (b)” rating on shares of Intercorp Financial Services in a report on Friday, May 22nd. Wall Street Zen upgraded shares of Intercorp Financial Services from a “hold” rating to a “buy” rating in a research report on Saturday, May 16th. Zacks Research lowered shares of Intercorp Financial Services from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 10th. Finally, JPMorgan Chase & Co. downgraded shares of Intercorp Financial Services from an “overweight” rating to a “neutral” rating and set a $56.00 price target for the company. in a research note on Monday, June 15th. One research analyst has rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $56.00.

Intercorp Financial Services Stock Up 2.4%

The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.61. The stock has a 50 day simple moving average of $49.76 and a 200 day simple moving average of $47.93. The stock has a market cap of $6.48 billion, a price-to-earnings ratio of 10.89, a PEG ratio of 0.78 and a beta of 0.80.

Intercorp Financial Services (NYSE:IFS) last released its quarterly earnings data on Tuesday, March 31st. The company reported $1.54 EPS for the quarter. Intercorp Financial Services had a return on equity of 17.49% and a net margin of 30.53%.The firm had revenue of $508.76 million during the quarter. As a group, analysts expect that Intercorp Financial Services Inc. will post 5.97 earnings per share for the current fiscal year.

Institutional Trading of Intercorp Financial Services

A number of hedge funds and other institutional investors have recently bought and sold shares of IFS. Schroder Investment Management Group raised its holdings in Intercorp Financial Services by 34.2% during the fourth quarter. Schroder Investment Management Group now owns 750,628 shares of the company’s stock worth $31,797,000 after buying an additional 191,217 shares during the last quarter. Millennium Management LLC lifted its stake in shares of Intercorp Financial Services by 66.7% in the fourth quarter. Millennium Management LLC now owns 639,381 shares of the company’s stock valued at $27,084,000 after buying an additional 255,753 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Intercorp Financial Services by 7.2% during the fourth quarter. JPMorgan Chase & Co. now owns 631,168 shares of the company’s stock valued at $26,736,000 after buying an additional 42,149 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Intercorp Financial Services by 15.6% during the third quarter. Arrowstreet Capital Limited Partnership now owns 581,245 shares of the company’s stock valued at $23,447,000 after buying an additional 78,333 shares during the last quarter. Finally, William Blair Investment Management LLC grew its holdings in shares of Intercorp Financial Services by 18.7% during the fourth quarter. William Blair Investment Management LLC now owns 446,887 shares of the company’s stock valued at $18,930,000 after buying an additional 70,288 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.