Intercorp Financial Services (NYSE:IFS) Shares Down 8.1% - Should You Sell?

Key Points

• Intercorp Financial Services (IFS) shares slid 8.1% intraday to $47.29 (previous close $51.48) on Wednesday, trading about 56,984 shares—roughly a 77% drop from the average session volume.
• Analyst sentiment is mixed: MarketBeat shows a consensus of "Moderate Buy" with a $48.00 target, while JPMorgan rates the stock "overweight" (target $48) and Wall Street Zen recently downgraded it to "hold."
• The company raised its annual dividend to $1.80 per share (ex-dividend April 24), up from $1.00, with a reported payout ratio near 19.7% and an unusually high implied yield reported in the article.

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

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Intercorp Financial Services in a 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. Finally, JPMorgan Chase & Co. raised their target price on Intercorp Financial Services from $42.00 to $48.00 and gave the company an "overweight" rating in a report on Tuesday, December 16th. Two investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, Intercorp Financial Services presently has an average rating of "Moderate Buy" and a consensus target price of $48.00.

Intercorp Financial Services Trading Down 10.9%

The company has a market capitalization of $5.25 billion, a price-to-earnings ratio of 9.50, a P/E/G ratio of 0.41 and a beta of 0.85. The business's 50 day moving average price is $48.68 and its two-hundred day moving average price is $44.61.

Intercorp Financial Services Increases Dividend

The company also recently disclosed an annual dividend, which will be paid on Tuesday, May 5th. Investors of record on Friday, April 24th will be given a dividend of $1.80 per share. The ex-dividend date is Friday, April 24th. This represents a yield of 358.0%. This is an increase from Intercorp Financial Services's previous annual dividend of $1.00. Intercorp Financial Services's dividend payout ratio is presently 19.71%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Hsbc Holdings PLC bought a new stake in Intercorp Financial Services during the 4th quarter worth approximately $662,000. Caitong International Asset Management Co. Ltd lifted its holdings in Intercorp Financial Services by 271.7% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 1,342 shares of the company's stock worth $57,000 after buying an additional 981 shares during the period. Mackenzie Financial Corp grew its position in shares of Intercorp Financial Services by 43.9% in the 4th quarter. Mackenzie Financial Corp now owns 13,158 shares of the company's stock valued at $554,000 after buying an additional 4,014 shares during the last quarter. XTX Topco Ltd bought a new stake in shares of Intercorp Financial Services in the 4th quarter valued at about $455,000. Finally, Millennium Management LLC increased its stake in shares of Intercorp Financial Services by 66.7% in the fourth quarter. Millennium Management LLC now owns 639,381 shares of the company's stock valued at $27,084,000 after buying an additional 255,753 shares during the period.

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.

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