Fintel reports that on June 1, 2023, JP Morgan upgraded their outlook for Intercorp Financial Services (NYSE:IFS) from Neutral to Overweight .
Analyst Price Forecast Suggests 44.00% Upside
As of May 11, 2023, the average one-year price target for Intercorp Financial Services is 30.60. The forecasts range from a low of 27.27 to a high of $35.70. The average price target represents an increase of 44.00% from its latest reported closing price of 21.25.
See our leaderboard of companies with the largest price target upside.
The projected annual revenue for Intercorp Financial Services is 1,561MM. The projected annual non-GAAP EPS is 3.94.
Intercorp Financial Services Declares $1.18 Dividend
On March 31, 2023 the company declared a regular annual dividend of $1.18 per share. Shareholders of record as of April 28, 2023 received the payment on May 8, 2023. Previously, the company paid $0.77 per share.
At the current share price of $21.25 / share, the stock’s dividend yield is 5.55%.
Looking back five years and taking a sample every week, the average dividend yield has been 4.29%, the lowest has been 2.58%, and the highest has been 6.53%. The standard deviation of yields is 0.88 (n=182).
The current dividend yield is 1.44 standard deviations above the historical average.
Additionally, the company’s dividend payout ratio is 0.09. The payout ratio tells us how much of a company’s income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company’s income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend – not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company has not increased its dividend in the last three years.
What is the Fund Sentiment?
There are 57 funds or institutions reporting positions in Intercorp Financial Services. This is an increase of 4 owner(s) or 7.55% in the last quarter. Average portfolio weight of all funds dedicated to IFS is 0.11%, a decrease of 52.74%. Total shares owned by institutions increased in the last three months by 9.94% to 9,074K shares.
What are Other Shareholders Doing?
Franklin Resources holds 2,793K shares representing 2.42% ownership of the company. In it’s prior filing, the firm reported owning 2,856K shares, representing a decrease of 2.25%. The firm decreased its portfolio allocation in IFS by 79.67% over the last quarter.
Nwi Management holds 1,022K shares representing 0.89% ownership of the company. No change in the last quarter.
Schroder Investment Management Group holds 691K shares representing 0.60% ownership of the company. In it’s prior filing, the firm reported owning 763K shares, representing a decrease of 10.41%. The firm decreased its portfolio allocation in IFS by 81.10% over the last quarter.
Handelsbanken Fonder AB holds 241K shares representing 0.21% ownership of the company. No change in the last quarter.
Discovery Capital Management holds 222K shares representing 0.19% ownership of the company. No change in the last quarter.
Intercorp Financial Services Background Information
(This description is provided by the company.)
Intercorp Financial Services Inc. provides banking, insurance, and wealth management services for retail and commercial clients in Peru.
This story originally appeared on Fintel.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
