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

Intercorp Financial Services Inc. (NYSE:IFS)’s share price reached a new 52-week high on Wednesday . The company traded as high as $57.20 and last traded at $57.03, with a volume of 11377 shares. The stock had previously closed at $55.81.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on IFS shares. JPMorgan Chase & Co. lowered shares of Intercorp Financial Services from an “overweight” rating to a “neutral” rating and set a $56.00 target price on the stock. in a report on Monday. Wall Street Zen raised shares of Intercorp Financial Services from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Intercorp Financial Services in a research note on Friday, May 22nd. Finally, Zacks Research cut shares of Intercorp Financial Services from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, June 10th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $56.00.

Intercorp Financial Services Stock Up 3.4%

The firm has a market cap of $6.41 billion, a PE ratio of 10.79, a PEG ratio of 0.77 and a beta of 0.80. The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.08 and a current ratio of 1.08. The company’s 50-day simple moving average is $48.52 and its two-hundred day simple moving average is $46.81.

Intercorp Financial Services (NYSE:IFS) last announced its quarterly earnings results on Tuesday, March 31st. The company reported $1.54 earnings per share for the quarter. The business had revenue of $508.76 million during the quarter. Intercorp Financial Services had a net margin of 30.53% and a return on equity of 17.49%. On average, analysts predict that Intercorp Financial Services Inc. will post 5.82 earnings per share for the current fiscal year.

Intercorp Financial Services Increases Dividend

The company also recently declared an annual dividend, which was paid on Tuesday, May 5th. Shareholders of record on Friday, April 24th were given a dividend of $1.80 per share. This represents a yield of 401.0%. The ex-dividend date of this dividend was 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 is currently 31.96%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Caitong International Asset Management Co. Ltd raised its holdings in Intercorp Financial Services by 106.4% in the 4th 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 in the last quarter. Blue Trust Inc. bought a new position in Intercorp Financial Services in the 4th quarter worth $94,000. DGS Capital Management LLC bought a new position in Intercorp Financial Services in the 1st quarter worth $213,000. Centiva Capital LP bought a new position in Intercorp Financial Services in the 3rd quarter worth $216,000. Finally, SG Americas Securities LLC raised its holdings in Intercorp Financial Services by 43.1% in the 4th 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.

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.