Intercorp Financial Services (NYSE:IFS) Hits New 12-Month High – Here’s Why

Shares of Intercorp Financial Services Inc. (NYSE:IFS) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $38.65 and last traded at $37.71, with a volume of 146214 shares. The stock had previously closed at $38.13.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen lowered Intercorp Financial Services from a “strong-buy” rating to a “buy” rating in a research report on Sunday, June 8th.

Intercorp Financial Services Trading Up 1.4%

The firm has a market cap of $4.34 billion, a P/E ratio of 10.12, a price-to-earnings-growth ratio of 0.35 and a beta of 1.16. The business’s 50 day moving average is $35.60 and its 200-day moving average is $32.62. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.65.

Intercorp Financial Services (NYSE:IFS) last released its earnings results on Thursday, May 8th. The company reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.89 by $0.17. Intercorp Financial Services had a net margin of 24.51% and a return on equity of 15.04%. The company had revenue of $382.57 million during the quarter, compared to the consensus estimate of $1.35 billion. As a group, analysts forecast that Intercorp Financial Services Inc. will post 4.23 earnings per share for the current fiscal year.

Insider Transactions at Intercorp Financial Services

In other Intercorp Financial Services news, major shareholder Peru Ltd Intercorp bought 12,729 shares of the business’s stock in a transaction on Tuesday, June 24th. The shares were purchased at an average price of $19.64 per share, with a total value of $249,997.56. Following the completion of the acquisition, the insider directly owned 2,928,964 shares of the company’s stock, valued at approximately $57,524,852.96. The trade was a 0.44% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Institutional Trading of Intercorp Financial Services

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Millennium Management LLC grew its stake in Intercorp Financial Services by 2,109.3% during the 4th quarter. Millennium Management LLC now owns 556,972 shares of the company’s stock worth $16,342,000 after buying an additional 531,762 shares during the last quarter. Acadian Asset Management LLC boosted its position in shares of Intercorp Financial Services by 93.9% during the 1st quarter. Acadian Asset Management LLC now owns 864,090 shares of the company’s stock valued at $28,593,000 after purchasing an additional 418,351 shares in the last quarter. Sagil Capital LLP acquired a new position in shares of Intercorp Financial Services in the 4th quarter worth approximately $9,064,000. Fourth Sail Capital LP bought a new stake in shares of Intercorp Financial Services in the 1st quarter worth approximately $8,543,000. Finally, Helikon Investments Ltd raised its holdings in shares of Intercorp Financial Services by 21.9% in the 1st quarter. Helikon Investments Ltd now owns 1,188,211 shares of the company’s stock worth $39,365,000 after purchasing an additional 213,392 shares in the last quarter.

Intercorp Financial Services Company Profile

Intercorp Financial Services Inc, together with its subsidiaries, offers banking, insurance, wealth management, and payment services for retail and commercial clients in Peru. The company provides loans, credit facilities, deposits, and current accounts; life annuity products with single-premium payment and conventional life insurance products, as well as other retail insurance products; and brokerage and investment management services.