Intercorp Financial Services Inc. (IFS) to Issue Annual Dividend of $1.00 on April 29th

Intercorp Financial Services Inc. (NYSE:IFS) declared an annual dividend on Monday, April 1st, Zacks reports. Shareholders of record on Thursday, April 18th will be given a dividend of 1.00 per share on Monday, April 29th. This represents a yield of 4.18%. The ex-dividend date is Wednesday, April 17th.

Intercorp Financial Services has increased its dividend by an average of 10.5% per year over the last three years. Intercorp Financial Services has a dividend payout ratio of 26.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Intercorp Financial Services to earn $4.37 per share next year, which means the company should continue to be able to cover its $1.18 annual dividend with an expected future payout ratio of 27.0%.

Intercorp Financial Services Price Performance

IFS opened at $22.94 on Monday. Intercorp Financial Services has a 12-month low of $17.94 and a 12-month high of $30.59. The firm has a 50 day moving average of $26.18 and a two-hundred day moving average of $22.55.

Intercorp Financial Services (NYSE:IFS) last posted its quarterly earnings results on Monday, February 12th. The company reported $0.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.26 by $0.40. The company had revenue of $426.13 million during the quarter, compared to analyst estimates of $430.96 million. Intercorp Financial Services had a net margin of 17.52% and a return on equity of 11.20%. As a group, sell-side analysts predict that Intercorp Financial Services will post 3.38 earnings per share for the current year.

Insider Activity at Intercorp Financial Services

In related news, major shareholder Peru Ltd Intercorp purchased 437,369 shares of the company’s stock in a transaction that occurred on Tuesday, March 26th. The shares were purchased at an average price of $19.60 per share, with a total value of $8,572,432.40. Following the purchase, the insider now owns 1,253,535 shares of the company’s stock, valued at $24,569,286. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Institutional Investors Weigh In On Intercorp Financial Services

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Dodge & Cox acquired a new stake in Intercorp Financial Services during the 4th quarter worth $593,000. Nuveen Asset Management LLC acquired a new position in shares of Intercorp Financial Services during the 4th quarter valued at about $527,000. Citadel Advisors LLC acquired a new position in shares of Intercorp Financial Services during the 4th quarter valued at about $1,097,000. Lazard Asset Management LLC acquired a new position in shares of Intercorp Financial Services during the 3rd quarter valued at about $32,000. Finally, Qube Research & Technologies Ltd acquired a new position in shares of Intercorp Financial Services during the 3rd quarter valued at about $42,000.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. cut their target price on shares of Intercorp Financial Services from $29.00 to $28.00 and set an “overweight” rating for the company in a report on Tuesday, January 9th.

Intercorp Financial Services Company Profile

Intercorp Financial Services Inc, together with its subsidiaries, offers banking, insurance, wealth management, and payment services for retail and commercial clients in Peru. The company provides loans, credit facilities, deposits, and current accounts; life annuity products with single-premium payment and conventional life insurance products, as well as other retail insurance products; and brokerage and investment management services.