Intercorp Financial Services (NYSE:IFS) Sets New 1-Year High - What's Next?

Key Points

• Intercorp Financial Services shares reached a new 52-week high of $41.71 on Wednesday, closing at $41.64 with a trading volume of 86,708 shares.
• Equities research analysts have upgraded Intercorp Financial Services' rating to a strong-buy, increasing the average price target to $30.00.
• Major shareholder Peru Ltd Intercorp recently acquired 17,803 shares at an average price of $19.66 each, increasing their ownership stake to approximately $57.93 million.

Shares of Intercorp Financial Services Inc. (NYSE:IFS - Get Free Report) reached a new 52-week high on Wednesday . The company traded as high as $41.71 and last traded at $41.64, with a volume of 86708 shares changing hands. The stock had previously closed at $40.77.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on IFS shares. Wall Street Zen upgraded Intercorp Financial Services from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 16th. Zacks Research upgraded shares of Intercorp Financial Services from a "hold" rating to a "strong-buy" rating in a report on Tuesday, September 2nd. One investment analyst has rated the stock with a Strong Buy rating and one has given a Buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Strong Buy" and an average price target of $30.00.

Intercorp Financial Services Price Performance

The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.61. The stock has a market cap of $4.76 billion, a PE ratio of 9.25, a PEG ratio of 0.36 and a beta of 1.16. The business has a 50-day moving average price of $37.99 and a 200 day moving average price of $35.28.

Insider Activity at Intercorp Financial Services

In other Intercorp Financial Services news, major shareholder Peru Ltd Intercorp acquired 17,803 shares of the business's stock in a transaction that occurred on Tuesday, July 22nd. The stock was bought at an average cost of $19.66 per share, with a total value of $350,006.98. Following the acquisition, the insider owned 2,946,766 shares in the company, valued at approximately $57,933,419.56. This represents a 0.61% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Hedge Funds Weigh In On Intercorp Financial Services

A number of large investors have recently modified their holdings of IFS. Employees Retirement System of Texas bought a new stake in Intercorp Financial Services during the 4th quarter worth approximately $155,000. FNY Investment Advisers LLC purchased a new position in shares of Intercorp Financial Services during the 1st quarter valued at $182,000. Allianz Asset Management GmbH bought a new position in shares of Intercorp Financial Services in the second quarter worth $283,000. Jane Street Group LLC bought a new position in shares of Intercorp Financial Services in the first quarter worth $287,000. Finally, Centiva Capital LP purchased a new stake in shares of Intercorp Financial Services in the fourth quarter worth $291,000.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.