Intercorp Financial Services (NYSE:IFS) Trading Down 8.1% – Time to Sell?

Shares of Intercorp Financial Services Inc. (NYSE:IFS) traded down 8.1% during trading on Wednesday . The stock traded as low as $47.33 and last traded at $47.29. 56,984 shares traded hands during mid-day trading, a decline of 77% from the average session volume of 248,444 shares. The stock had previously closed at $51.48.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. JPMorgan Chase & Co. upped their price objective on shares of Intercorp Financial Services from $42.00 to $48.00 and gave the company an “overweight” rating in a research note on Tuesday, December 16th. Wall Street Zen cut shares of Intercorp Financial Services from a “buy” rating to a “hold” rating in a research report on Tuesday, March 10th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Intercorp Financial Services in a research report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Intercorp Financial Services has a consensus rating of “Moderate Buy” and an average target price of $48.00.

Intercorp Financial Services Price Performance

The firm has a market capitalization of $5.25 billion, a price-to-earnings ratio of 9.50, a PEG ratio of 0.41 and a beta of 0.85. The business’s fifty day simple moving average is $48.68 and its 200 day simple moving average is $44.61.

Intercorp Financial Services Increases Dividend

The company also recently announced an annual dividend, which will be paid on Tuesday, May 5th. Stockholders of record on Friday, April 24th will be paid a $1.80 dividend. The ex-dividend date is Friday, April 24th. This represents a dividend yield of 358.0%. This is a boost from Intercorp Financial Services’s previous annual dividend of $1.00. Intercorp Financial Services’s dividend payout ratio (DPR) is 19.71%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Principal Financial Group Inc. raised its position in shares of Intercorp Financial Services by 24.4% during the third quarter. Principal Financial Group Inc. now owns 534,609 shares of the company’s stock worth $21,566,000 after purchasing an additional 104,792 shares during the period. JPMorgan Chase & Co. grew its position in Intercorp Financial Services by 22.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 589,019 shares of the company’s stock valued at $23,761,000 after purchasing an additional 107,290 shares during the period. Mirabella Financial Services LLP bought a new stake in Intercorp Financial Services during the 3rd quarter valued at $3,924,000. Schroder Investment Management Group increased its stake in Intercorp Financial Services by 9.5% during the 3rd quarter. Schroder Investment Management Group now owns 559,411 shares of the company’s stock valued at $22,567,000 after purchasing an additional 48,624 shares in the last quarter. Finally, William Blair Investment Management LLC raised its holdings in Intercorp Financial Services by 100.8% during the third quarter. William Blair Investment Management LLC now owns 376,599 shares of the company’s stock worth $15,192,000 after buying an additional 189,065 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.