Short Interest in Intercorp Financial Services Inc. (NYSE:IFS) Expands By 16.5%

Intercorp Financial Services Inc. (NYSE:IFS) was the target of a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 46,500 shares, a growth of 16.5% from the October 15th total of 39,900 shares. Based on an average trading volume of 121,700 shares, the short-interest ratio is presently 0.4 days. Approximately 0.1% of the shares of the stock are sold short.

Analysts Set New Price Targets

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

Intercorp Financial Services Stock Performance

Shares of NYSE IFS opened at $28.30 on Monday. The company’s 50 day moving average price is $26.41 and its 200-day moving average price is $24.17. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.12 and a current ratio of 1.12. Intercorp Financial Services has a 52-week low of $18.48 and a 52-week high of $30.59.

Insider Buying and Selling

In other Intercorp Financial Services news, major shareholder Peru Ltd Intercorp acquired 247,311 shares of the company’s stock in a transaction that occurred on Friday, September 27th. The stock was acquired at an average price of $19.65 per share, for a total transaction of $4,859,661.15. Following the acquisition, the insider now directly owns 1,842,999 shares in the company, valued at $36,214,930.35. This represents a 15.50 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.

Institutional Investors Weigh In On Intercorp Financial Services

Large investors have recently added to or reduced their stakes in the business. Helikon Investments Ltd boosted its position in shares of Intercorp Financial Services by 208.5% during the 2nd quarter. Helikon Investments Ltd now owns 781,345 shares of the company’s stock worth $17,510,000 after purchasing an additional 528,099 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Intercorp Financial Services by 351.5% in the third quarter. Principal Financial Group Inc. now owns 231,269 shares of the company’s stock worth $6,043,000 after acquiring an additional 180,043 shares in the last quarter. Citigroup Inc. grew its stake in Intercorp Financial Services by 466.7% in the third quarter. Citigroup Inc. now owns 213,392 shares of the company’s stock valued at $5,591,000 after acquiring an additional 175,734 shares during the period. Marshall Wace LLP increased its holdings in shares of Intercorp Financial Services by 544.1% during the second quarter. Marshall Wace LLP now owns 84,377 shares of the company’s stock valued at $1,891,000 after acquiring an additional 71,277 shares in the last quarter. Finally, Absolute Gestao de Investimentos Ltda. acquired a new position in shares of Intercorp Financial Services during the first quarter worth approximately $1,465,000.

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.