Intercorp Financial Services (NYSE:IFS) Shares Gap Down - What's Next?

Key Points

• Shares gapped down at the open from $45.79 to $43.97 and were last trading around $45.06 on light volume (15,076 shares).
• The company raised its annual dividend to $1.80 (from $1.00), with an ex-dividend/record date of April 24 and a payment scheduled for May 5.
• Analyst coverage is mixed—two Buys and one Hold—resulting in a consensus "Moderate Buy" rating and an average target price of $48.00.

Intercorp Financial Services Inc. (NYSE:IFS - Get Free Report) shares 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.

Analyst Upgrades and Downgrades

A number of analysts have commented on IFS shares. Weiss Ratings reissued a "buy (b-)" rating on shares of Intercorp Financial Services in a report on Monday, December 29th. Wall Street Zen downgraded Intercorp Financial Services from a "buy" rating to a "hold" rating in a research note on Tuesday, March 10th. Two equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $48.00.

Intercorp Financial Services Stock Down 1.6%

The company has a market cap of $5.01 billion, a PE ratio of 9.35, a P/E/G ratio of 0.37 and a beta of 0.85. The stock has a 50-day moving average of $48.24 and a 200-day moving average of $44.90.

Intercorp Financial Services Increases Dividend

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

Institutional Trading of Intercorp Financial Services

A number of institutional investors have recently modified their holdings of IFS. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Intercorp Financial Services by 106.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 745 shares of the company's stock worth $32,000 after purchasing an additional 384 shares during the period. Blue Trust Inc. purchased a new stake in Intercorp Financial Services in the fourth quarter worth about $94,000. Centiva Capital LP purchased a new stake in Intercorp Financial Services in the third quarter worth about $216,000. SG Americas Securities LLC lifted its holdings in shares of Intercorp Financial Services by 43.1% during the fourth quarter. SG Americas Securities LLC now owns 5,308 shares of the company's stock valued at $225,000 after purchasing an additional 1,599 shares during the last quarter. Finally, Pinnacle Associates Ltd. purchased a new position in shares of Intercorp Financial Services during the third quarter valued at approximately $275,000.

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.

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