Intercorp Financial Services said on March 31, 2023 that its board of directors declared a regular annual dividend of $1.18 per share. Previously, the company paid $0.77 per share.
Shares must be purchased before the ex-div date of April 27, 2023 to qualify for the dividend. Shareholders of record as of April 28, 2023 will receive the payment on May 8, 2023.
At the current share price of $23.15 / share, the stock's dividend yield is 5.10%. Looking back five years and taking a sample every week, the average dividend yield has been 4.26%, the lowest has been 2.58%, and the highest has been 6.53%. The standard deviation of yields is 0.88 (n=175).
The current dividend yield is 0.96 standard deviations above the historical average.
Additionally, the company's dividend payout ratio is 0.08. 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.
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What is the Fund Sentiment?
There are 55 funds or institutions reporting positions in Intercorp Financial Services. This is an increase of 6 owner(s) or 12.24% in the last quarter. Average portfolio weight of all funds dedicated to IFS is 0.24%, an increase of 56.91%. Total shares owned by institutions decreased in the last three months by 7.41% to 8,277K shares.
Analyst Price Forecast Suggests 32.18% Upside
As of March 30, 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 32.18% from its latest reported closing price of $23.15.
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.
What are Other Shareholders Doing?
Dimensional Fund Advisors holds 21K shares representing 0.02% ownership of the company. In it's prior filing, the firm reported owning 21K shares, representing a decrease of 0.66%. The firm decreased its portfolio allocation in IFS by 10.40% over the last quarter.
Tower Research Capital LLC holds 3K shares representing 0.00% ownership of the company. In it's prior filing, the firm reported owning 2K shares, representing an increase of 16.94%. The firm increased its portfolio allocation in IFS by 358,299.18% over the last quarter.
Franklin Resources holds 2,856K shares representing 2.47% ownership of the company. In it's prior filing, the firm reported owning 2,970K shares, representing a decrease of 4.00%. The firm decreased its portfolio allocation in IFS by 76.27% over the last quarter.
OTGAX - OTG Latin America Fund Shares holds 10K shares representing 0.01% ownership of the company. No change in the last quarter.
DFAX - Dimensional World ex U.S. Core Equity 2 ETF holds 0K shares representing 0.00% 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.
