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

Intercorp Financial Services Inc. (NYSE:IFS) saw a significant growth in short interest in 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 daily trading volume, of 121,700 shares, the short-interest ratio is presently 0.4 days. Currently, 0.1% of the company’s stock are sold short.

Insider Buying and Selling

In related 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 shares were bought at an average price of $19.65 per share, with a total value of $4,859,661.15. Following the completion of the transaction, the insider now directly owns 1,842,999 shares in the company, valued at $36,214,930.35. This trade represents a 15.50 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Institutional Trading of Intercorp Financial Services

Several large investors have recently bought and sold shares of the stock. Helikon Investments Ltd raised its holdings in shares of Intercorp Financial Services by 24.8% in the third quarter. Helikon Investments Ltd now owns 974,819 shares of the company’s stock worth $25,472,000 after buying an additional 193,474 shares during the last quarter. Cubist Systematic Strategies LLC purchased a new stake in Intercorp Financial Services during the 2nd quarter valued at about $387,000. Quadrature Capital Ltd acquired a new position in shares of Intercorp Financial Services in the first quarter valued at about $559,000. Lord Abbett & CO. LLC raised its stake in shares of Intercorp Financial Services by 1.3% in the first quarter. Lord Abbett & CO. LLC now owns 187,719 shares of the company’s stock worth $4,470,000 after purchasing an additional 2,329 shares during the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in shares of Intercorp Financial Services by 44.9% during the second quarter. Acadian Asset Management LLC now owns 21,952 shares of the company’s stock worth $490,000 after purchasing an additional 6,807 shares during the period.

Wall Street Analysts Forecast Growth

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

Intercorp Financial Services Stock Up 0.9 %

Shares of IFS stock opened at $28.30 on Friday. The stock’s fifty day moving average price is $26.41 and its 200 day moving average price is $24.13. Intercorp Financial Services has a 1-year low of $18.48 and a 1-year high of $30.59. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.12 and a current ratio of 1.10.

Intercorp Financial Services (NYSE:IFS) last issued its quarterly earnings results on Wednesday, August 14th. The company reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.09. The business had revenue of $414.92 million for the quarter, compared to analyst estimates of $423.35 million. Intercorp Financial Services had a return on equity of 10.75% and a net margin of 18.00%. Sell-side analysts anticipate that Intercorp Financial Services will post 2.76 EPS for the current fiscal year.

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.