Intercorp Financial Services Inc. (NYSE:IFS) Sees Significant Increase in Short Interest

Intercorp Financial Services Inc. (NYSE:IFS) was the target of a large increase in short interest in November. As of November 15th, there was short interest totalling 102,900 shares, an increase of 121.3% from the October 31st total of 46,500 shares. Based on an average trading volume of 148,700 shares, the days-to-cover ratio is currently 0.7 days. Approximately 0.3% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

Separately, JPMorgan Chase & Co. cut their price target on shares of Intercorp Financial Services from $31.00 to $30.00 and set an “overweight” rating for the company in a report on Thursday, September 12th.

Insider Transactions at Intercorp Financial Services

In other Intercorp Financial Services news, major shareholder Peru Ltd Intercorp acquired 247,311 shares of the business’s stock in a transaction dated Friday, September 27th. The stock was acquired at an average cost of $19.65 per share, for a total transaction of $4,859,661.15. Following the completion of the transaction, the insider now directly owns 1,842,999 shares of the company’s stock, valued at $36,214,930.35. This represents a 15.50 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Institutional Investors Weigh In On Intercorp Financial Services

Several large investors have recently bought and sold shares of IFS. Geode Capital Management LLC lifted its position in shares of Intercorp Financial Services by 2.4% in the third quarter. Geode Capital Management LLC now owns 16,799 shares of the company’s stock valued at $439,000 after acquiring an additional 401 shares in the last quarter. Public Employees Retirement System of Ohio acquired a new position in Intercorp Financial Services in the 3rd quarter valued at $423,000. XTX Topco Ltd purchased a new position in Intercorp Financial Services in the 3rd quarter valued at $288,000. Jane Street Group LLC acquired a new stake in Intercorp Financial Services during the 3rd quarter worth $447,000. Finally, State Street Corp boosted its stake in Intercorp Financial Services by 13.3% during the 3rd quarter. State Street Corp now owns 143,413 shares of the company’s stock worth $3,747,000 after purchasing an additional 16,793 shares during the last quarter.

Intercorp Financial Services Price Performance

Shares of IFS stock traded up $0.01 on Thursday, reaching $28.04. 166,233 shares of the company were exchanged, compared to its average volume of 111,468. Intercorp Financial Services has a 1 year low of $18.60 and a 1 year high of $30.59. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.12 and a current ratio of 1.12. The business has a 50-day moving average price of $27.05 and a 200 day moving average price of $24.51. The company has a market cap of $3.24 billion, a price-to-earnings ratio of 11.00, a P/E/G ratio of 0.39 and a beta of 1.31.

About Intercorp Financial Services

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.