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

Intercorp Financial Services Inc. (NYSE:IFS) was the recipient of a large increase in short interest in March. As of March 13th, there was short interest totaling 262,552 shares, an increase of 24.2% from the February 26th total of 211,321 shares. Based on an average daily trading volume, of 297,106 shares, the days-to-cover ratio is presently 0.9 days. Currently, 0.2% of the shares of the company are short sold.

Wall Street Analyst Weigh In

A number of analysts recently commented on the company. Wall Street Zen downgraded Intercorp Financial Services from a “buy” rating to a “hold” rating in a research report on Tuesday, March 10th. Weiss Ratings restated a “buy (b-)” rating on shares of Intercorp Financial Services in a research note on Monday, December 29th. Finally, JPMorgan Chase & Co. lifted their target price on Intercorp Financial Services from $42.00 to $48.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 16th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $48.00.

Intercorp Financial Services Trading Up 3.9%

Shares of IFS stock traded up $1.86 during trading hours on Tuesday, hitting $50.06. 303,098 shares of the company were exchanged, compared to its average volume of 251,058. The stock has a market capitalization of $5.73 billion, a price-to-earnings ratio of 10.39, a P/E/G ratio of 0.39 and a beta of 0.83. The firm has a fifty day simple moving average of $48.29 and a 200 day simple moving average of $43.90. Intercorp Financial Services has a 52-week low of $29.09 and a 52-week high of $52.58.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Hsbc Holdings PLC purchased a new stake in Intercorp Financial Services in the 4th quarter worth about $662,000. Caitong International Asset Management Co. Ltd boosted its position in Intercorp Financial Services by 271.7% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 1,342 shares of the company’s stock worth $57,000 after purchasing an additional 981 shares during the period. Mackenzie Financial Corp boosted its position in Intercorp Financial Services by 43.9% during the fourth quarter. Mackenzie Financial Corp now owns 13,158 shares of the company’s stock worth $554,000 after purchasing an additional 4,014 shares during the period. XTX Topco Ltd purchased a new position in shares of Intercorp Financial Services in the fourth quarter worth about $455,000. Finally, Millennium Management LLC increased 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 purchasing an additional 255,753 shares in the last quarter.

About Intercorp Financial Services

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.