Intercorp Financial Services (NYSE:IFS) Upgraded by Zacks Research to “Strong-Buy” Rating

Zacks Research upgraded shares of Intercorp Financial Services (NYSE:IFS) from a hold rating to a strong-buy rating in a research note issued to investors on Tuesday morning,Zacks.com reports.

Separately, Wall Street Zen downgraded Intercorp Financial Services from a “buy” rating to a “hold” rating in a research note on Tuesday, March 10th. One investment analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Buy” and a consensus target price of $48.00.

Intercorp Financial Services Trading Down 1.0%

Shares of IFS stock opened at $44.92 on Tuesday. The stock has a 50 day simple moving average of $47.22 and a 200-day simple moving average of $45.32. Intercorp Financial Services has a 1-year low of $34.20 and a 1-year high of $53.00. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.10 and a quick ratio of 1.10. The company has a market cap of $4.99 billion, a price-to-earnings ratio of 8.40, a PEG ratio of 0.15 and a beta of 0.77.

Intercorp Financial Services (NYSE:IFS) last posted its quarterly earnings data on Tuesday, March 31st. The company reported $1.54 EPS for the quarter. Intercorp Financial Services had a return on equity of 17.92% and a net margin of 30.53%.The firm had revenue of $508.76 million during the quarter. On average, equities research analysts expect that Intercorp Financial Services will post 12.86 EPS for the current fiscal year.

Intercorp Financial Services Increases Dividend

The firm also recently declared an annual dividend, which was paid on Tuesday, May 5th. Stockholders of record on Friday, April 24th were issued a dividend of $1.80 per share. The ex-dividend date was Friday, April 24th. This represents a dividend yield of 401.0%. This is a boost from Intercorp Financial Services’s previous annual dividend of $1.00. Intercorp Financial Services’s dividend payout ratio (DPR) is currently 35.48%.

Institutional Investors Weigh In On Intercorp Financial Services

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Hsbc Holdings PLC grew its stake in Intercorp Financial Services by 2,364.9% during the 1st quarter. Hsbc Holdings PLC now owns 387,536 shares of the company’s stock worth $19,454,000 after buying an additional 371,814 shares during the last quarter. Millennium Management LLC grew its stake in shares of Intercorp Financial Services by 66.7% in the 4th quarter. Millennium Management LLC now owns 639,381 shares of the company’s stock valued at $27,084,000 after purchasing an additional 255,753 shares during the last quarter. Schroder Investment Management Group grew its stake in shares of Intercorp Financial Services by 34.2% in the 4th quarter. Schroder Investment Management Group now owns 750,628 shares of the company’s stock valued at $31,797,000 after purchasing an additional 191,217 shares during the last quarter. William Blair Investment Management LLC grew its stake in shares of 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 valued at $15,192,000 after purchasing an additional 189,065 shares during the last quarter. Finally, Jane Street Group LLC grew its stake in shares of Intercorp Financial Services by 1,722.7% in the 2nd quarter. Jane Street Group LLC now owns 157,794 shares of the company’s stock valued at $6,017,000 after purchasing an additional 149,137 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.