Intercorp Financial Services (NYSE:IFS) Shares Gap Up – Should You Buy?

Intercorp Financial Services Inc. (NYSE:IFS) shares gapped up before the market opened on Tuesday . The stock had previously closed at $47.16, but opened at $49.66. Intercorp Financial Services shares last traded at $53.3850, with a volume of 46,264 shares.

Analysts Set New Price Targets

Several research analysts have recently commented on IFS shares. JPMorgan Chase & Co. increased 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. Weiss Ratings restated a “buy (b)” rating on shares of Intercorp Financial Services in a research note on Friday, May 22nd. Zacks Research upgraded shares of Intercorp Financial Services from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. Finally, Wall Street Zen upgraded shares of Intercorp Financial Services from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. One investment analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. Based on data from MarketBeat, Intercorp Financial Services currently has a consensus rating of “Buy” and a consensus target price of $56.00.

Intercorp Financial Services Trading Up 11.2%

The company has a debt-to-equity ratio of 0.61, a quick ratio of 1.08 and a current ratio of 1.08. The company’s 50 day moving average price is $47.89 and its 200 day moving average price is $46.18. The company has a market cap of $5.83 billion, a price-to-earnings ratio of 9.78, a price-to-earnings-growth ratio of 0.67 and a beta of 0.80.

Intercorp Financial Services (NYSE:IFS) last posted its quarterly earnings data on Tuesday, March 31st. The company reported $1.54 earnings per share (EPS) 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 anticipate that Intercorp Financial Services Inc. 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. Investors of record on Friday, April 24th were issued a dividend of $1.80 per share. The ex-dividend date of this dividend was Friday, April 24th. This represents a dividend yield of 401.0%. This is an increase from Intercorp Financial Services’s previous annual dividend of $1.00. Intercorp Financial Services’s payout ratio is currently 31.96%.

Institutional Trading of Intercorp Financial Services

Several large investors have recently modified their holdings of IFS. Hsbc Holdings PLC boosted its holdings in shares of 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 period. Millennium Management LLC grew 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 worth $27,084,000 after acquiring 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 fourth quarter. Schroder Investment Management Group now owns 750,628 shares of the company’s stock worth $31,797,000 after acquiring 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 third quarter. William Blair Investment Management LLC now owns 376,599 shares of the company’s stock worth $15,192,000 after acquiring 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 second quarter. Jane Street Group LLC now owns 157,794 shares of the company’s stock worth $6,017,000 after acquiring 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.