Intercorp Financial Services Inc. (NYSE:IFS) Short Interest Up 24.2% in March

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 volume of 297,106 shares, the short-interest ratio is presently 0.9 days. Currently, 0.2% of the shares of the stock are sold short.

Intercorp Financial Services Stock Performance

Shares of IFS stock traded up $0.60 on Monday, reaching $48.23. 331,816 shares of the company were exchanged, compared to its average volume of 248,897. Intercorp Financial Services has a 1 year low of $29.09 and a 1 year high of $52.58. The business has a 50-day moving average price of $48.15 and a 200 day moving average price of $43.80. The company has a market cap of $5.52 billion, a price-to-earnings ratio of 10.01, a P/E/G ratio of 0.38 and a beta of 0.83.

Hedge Funds Weigh In On Intercorp Financial Services

A number of hedge funds have recently made changes to their positions in the company. Caitong International Asset Management Co. Ltd grew its position in shares of Intercorp Financial Services by 106.4% in the fourth quarter. Caitong International Asset Management Co. Ltd now owns 745 shares of the company’s stock valued at $32,000 after purchasing an additional 384 shares in the last quarter. Geode Capital Management LLC lifted its position in Intercorp Financial Services by 5.7% during the fourth quarter. Geode Capital Management LLC now owns 23,608 shares of the company’s stock worth $1,000,000 after buying an additional 1,274 shares in the last quarter. SG Americas Securities LLC lifted its position in Intercorp Financial Services by 43.1% during the fourth quarter. SG Americas Securities LLC now owns 5,308 shares of the company’s stock worth $225,000 after buying an additional 1,599 shares in the last quarter. Blue Trust Inc. acquired a new position in Intercorp Financial Services during the fourth quarter worth $94,000. Finally, Employees Retirement System of Texas grew its holdings in Intercorp Financial Services by 47.6% in the 4th quarter. Employees Retirement System of Texas now owns 9,761 shares of the company’s stock valued at $413,000 after buying an additional 3,149 shares in the last quarter.

Analyst Ratings Changes

A number of equities analysts have issued reports on IFS shares. Wall Street Zen lowered Intercorp Financial Services from a “buy” rating to a “hold” rating in a report on Tuesday, March 10th. JPMorgan Chase & Co. upped 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. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Intercorp Financial Services in a research report on Monday, December 29th. Two research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat, Intercorp Financial Services has a consensus rating of “Moderate Buy” and an average target price of $48.00.

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.