Intercorp Financial Services (NYSE:IFS) Lowered to Hold Rating by Zacks Research

Zacks Research lowered shares of Intercorp Financial Services (NYSE:IFS) from a strong-buy rating to a hold rating in a report issued on Wednesday,Zacks.com reports.

Several other research firms also recently weighed in on IFS. JPMorgan Chase & Co. boosted their price target on shares of Intercorp Financial Services from $48.00 to $56.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 20th. Wall Street Zen raised shares of Intercorp Financial Services from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of Intercorp Financial Services in a research note on Friday, May 22nd. Two 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 has a consensus rating of “Moderate Buy” and a consensus target price of $56.00.

Intercorp Financial Services Stock Performance

Intercorp Financial Services stock opened at $55.26 on Wednesday. The company has a quick ratio of 1.08, a current ratio of 1.08 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $6.14 billion, a PE ratio of 10.33, a P/E/G ratio of 0.76 and a beta of 0.80. The firm has a fifty day simple moving average of $48.19 and a two-hundred day simple moving average of $46.47. Intercorp Financial Services has a twelve month low of $35.39 and a twelve month high of $55.94.

Intercorp Financial Services (NYSE:IFS) last posted its quarterly earnings results on Tuesday, March 31st. The company reported $1.54 earnings per share for the quarter. The business had revenue of $508.76 million during the quarter. Intercorp Financial Services had a net margin of 30.53% and a return on equity of 17.49%. Research analysts expect that Intercorp Financial Services will post 5.82 EPS for the current year.

Intercorp Financial Services Increases Dividend

The company also recently disclosed an annual dividend, which was paid on Tuesday, May 5th. Stockholders of record on Friday, April 24th were paid a dividend of $1.80 per share. This represents a dividend yield of 401.0%. This is a positive change from Intercorp Financial Services’s previous annual dividend of $1.00. The ex-dividend date of this dividend was Friday, April 24th. Intercorp Financial Services’s payout ratio is currently 31.96%.

Hedge Funds Weigh In On Intercorp Financial Services

Several hedge funds and other institutional investors have recently modified their holdings of the company. Schroder Investment Management Group raised its stake in shares of Intercorp Financial Services by 34.2% during the fourth quarter. Schroder Investment Management Group now owns 750,628 shares of the company’s stock valued at $31,797,000 after acquiring an additional 191,217 shares during the last quarter. Millennium Management LLC raised its stake in shares of Intercorp Financial Services by 66.7% during the fourth quarter. Millennium Management LLC now owns 639,381 shares of the company’s stock valued at $27,084,000 after acquiring an additional 255,753 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of Intercorp Financial Services by 7.2% during the fourth quarter. JPMorgan Chase & Co. now owns 631,168 shares of the company’s stock valued at $26,736,000 after acquiring an additional 42,149 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Intercorp Financial Services by 15.6% during the third quarter. Arrowstreet Capital Limited Partnership now owns 581,245 shares of the company’s stock valued at $23,447,000 after acquiring an additional 78,333 shares during the last quarter. Finally, William Blair Investment Management LLC raised its stake in shares of Intercorp Financial Services by 18.7% during the fourth quarter. William Blair Investment Management LLC now owns 446,887 shares of the company’s stock valued at $18,930,000 after acquiring an additional 70,288 shares during the last quarter.

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.