Intercorp Financial Services (NYSE:IFS) Shares Gap Down – What’s Next?

Shares of Intercorp Financial Services Inc. (NYSE:IFS) gapped down before the market opened on Friday . The stock had previously closed at $45.79, but opened at $43.97. Intercorp Financial Services shares last traded at $45.0630, with a volume of 15,076 shares changing hands.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on IFS shares. Weiss Ratings reissued a “buy (b-)” rating on shares of Intercorp Financial Services in a research report on Monday, December 29th. Wall Street Zen downgraded shares of Intercorp Financial Services from a “buy” rating to a “hold” rating in a research report on Tuesday, March 10th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $48.00.

Intercorp Financial Services Stock Performance

The firm has a market cap of $5.01 billion, a P/E ratio of 9.35, a P/E/G ratio of 0.37 and a beta of 0.85. The business’s 50-day simple moving average is $48.24 and its 200 day simple moving average is $44.90.

Intercorp Financial Services Increases Dividend

The business also recently announced an annual dividend, which will be paid on Tuesday, May 5th. Shareholders of record on Friday, April 24th will be given a $1.80 dividend. This is a boost from Intercorp Financial Services’s previous annual dividend of $1.00. The ex-dividend date of this dividend is Friday, April 24th. This represents a yield of 399.0%. Intercorp Financial Services’s payout ratio is presently 19.71%.

Institutional Investors Weigh In On Intercorp Financial Services

Large investors have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. grew its position in Intercorp Financial Services by 24.4% in the 3rd 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 worth $23,761,000 after purchasing an additional 107,290 shares during the period. Schroder Investment Management Group grew its position in Intercorp Financial Services by 9.5% in the 3rd quarter. Schroder Investment Management Group now owns 559,411 shares of the company’s stock worth $22,567,000 after purchasing an additional 48,624 shares during the period. William Blair Investment Management LLC grew its position in Intercorp Financial Services by 100.8% in the 3rd quarter. William Blair Investment Management LLC now owns 376,599 shares of the company’s stock worth $15,192,000 after purchasing an additional 189,065 shares during the period. Finally, Mirabella Financial Services LLP bought a new stake in Intercorp Financial Services in the 3rd quarter worth approximately $3,924,000.

Intercorp Financial Services Company Profile

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.