Short Interest in Intercorp Financial Services Inc. (NYSE:IFS) Grows By 121.3%

Intercorp Financial Services Inc. (NYSE:IFS) was the recipient of a large increase in short interest in the month of 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 short-interest ratio is currently 0.7 days. Approximately 0.3% of the shares of the stock are sold short.

Intercorp Financial Services Price Performance

Shares of Intercorp Financial Services stock traded down $0.29 during trading on Friday, reaching $27.75. 38,589 shares of the company’s stock were exchanged, compared to its average volume of 111,153. The firm’s 50-day moving average price is $27.18 and its 200 day moving average price is $24.56. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.12 and a quick ratio of 1.12. Intercorp Financial Services has a 1-year low of $18.60 and a 1-year high of $30.59.

Analysts Set New Price Targets

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

Insider Buying and Selling at Intercorp Financial Services

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

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC boosted its holdings in shares of Intercorp Financial Services by 2.4% during the 3rd 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. Russell Investments Group Ltd. acquired a new stake in shares of Intercorp Financial Services during the first quarter valued at about $31,000. Acadian Asset Management LLC grew 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 last quarter. Semanteon Capital Management LP acquired a new position in shares of Intercorp Financial Services in the third quarter valued at approximately $222,000. Finally, PDT Partners LLC bought a new position in Intercorp Financial Services in the 3rd quarter valued at approximately $237,000.

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.