Intercorp Financial Services Inc. (NYSE:IFS) Sees Large Decrease in Short Interest
by Tristan Rich · The Markets DailyIntercorp Financial Services Inc. (NYSE:IFS – Get Free Report) saw a significant decrease in short interest during the month of February. As of February 27th, there was short interest totaling 211,321 shares, a decrease of 25.4% from the February 12th total of 283,202 shares. Based on an average daily trading volume, of 227,368 shares, the short-interest ratio is currently 0.9 days. Approximately 0.2% of the shares of the stock are short sold. Approximately 0.2% of the shares of the stock are short sold. Based on an average daily trading volume, of 227,368 shares, the short-interest ratio is currently 0.9 days.
Hedge Funds Weigh In On Intercorp Financial Services
Large investors have recently modified their holdings of the stock. Schroder Investment Management Group lifted its position in Intercorp Financial Services by 34.2% in the fourth quarter. Schroder Investment Management Group now owns 750,628 shares of the company’s stock worth $31,797,000 after buying an additional 191,217 shares during the last quarter. Millennium Management LLC increased its position in Intercorp Financial Services by 66.7% during the fourth quarter. Millennium Management LLC now owns 639,381 shares of the company’s stock valued at $27,084,000 after acquiring an additional 255,753 shares during the last quarter. JPMorgan Chase & Co. increased its position in Intercorp Financial Services by 7.2% during the fourth quarter. JPMorgan Chase & Co. now owns 631,168 shares of the company’s stock valued at $26,736,000 after acquiring an additional 42,149 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Intercorp Financial Services by 15.6% in the third quarter. Arrowstreet Capital Limited Partnership now owns 581,245 shares of the company’s stock valued at $23,447,000 after acquiring an additional 78,333 shares during the period. Finally, Principal Financial Group Inc. raised its stake in shares of Intercorp Financial Services by 24.4% in the third quarter. Principal Financial Group Inc. now owns 534,609 shares of the company’s stock valued at $21,566,000 after acquiring an additional 104,792 shares during the period.
Intercorp Financial Services Stock Up 3.1%
IFS traded up $1.41 on Monday, hitting $46.19. The company had a trading volume of 133,965 shares, compared to its average volume of 253,966. The company has a market cap of $5.29 billion, a PE ratio of 9.58, a PEG ratio of 0.36 and a beta of 0.83. Intercorp Financial Services has a 12-month low of $29.09 and a 12-month high of $52.58. The business’s fifty day simple moving average is $47.51 and its 200 day simple moving average is $43.31.
Wall Street Analysts Forecast Growth
A number of analysts have issued reports on IFS shares. JPMorgan Chase & Co. lifted their price objective 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. Wall Street Zen lowered shares of Intercorp Financial Services from a “buy” rating to a “hold” rating in a report on Tuesday, March 10th. Finally, Weiss Ratings restated a “buy (b-)” rating on shares of Intercorp Financial Services in a research report on Monday, December 29th. Two investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $48.00.
Get Our Latest Report on Intercorp Financial Services
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.