Intercorp Financial Services Inc. (NYSE:IFS) Sees Significant Decline in Short Interest

Intercorp Financial Services Inc. (NYSE:IFSGet Rating) was the target of a large decline in short interest in the month of May. As of May 15th, there was short interest totalling 79,000 shares, a decline of 49.3% from the April 30th total of 155,800 shares. Based on an average daily volume of 54,500 shares, the days-to-cover ratio is currently 1.4 days.

Several analysts recently issued reports on the company. Zacks Investment Research upgraded Intercorp Financial Services from a “hold” rating to a “buy” rating and set a $27.00 price target for the company in a research note on Wednesday, May 11th. Itaú Unibanco downgraded Intercorp Financial Services from an “outperform” rating to a “market perform” rating and set a $35.00 price target for the company. in a research note on Friday, March 11th. Finally, Itau BBA Securities downgraded Intercorp Financial Services from an “outperform” rating to a “market perform” rating and set a $35.00 price target for the company. in a research note on Friday, March 11th. Four investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $30.60.

Shares of NYSE:IFS traded down $0.29 during trading on Friday, reaching $26.03. 28,002 shares of the company traded hands, compared to its average volume of 63,905. The company’s 50 day moving average is $29.86 and its two-hundred day moving average is $29.25. The firm has a market capitalization of $3.00 billion, a PE ratio of 7.05, a PEG ratio of 0.47 and a beta of 1.46. The company has a quick ratio of 1.21, a current ratio of 1.15 and a debt-to-equity ratio of 0.87. Intercorp Financial Services has a 52 week low of $17.67 and a 52 week high of $37.64.

The business also recently announced an annual dividend, which was paid on Friday, May 6th. Stockholders of record on Thursday, April 28th were given a dividend of $1.75 per share. This represents a dividend yield of 4.8%. This is an increase from Intercorp Financial Services’s previous annual dividend of $0.77. The ex-dividend date was Wednesday, April 27th. Intercorp Financial Services’s dividend payout ratio is presently 44.99%.

Large investors have recently added to or reduced their stakes in the company. Bank of America Corp DE lifted its position in shares of Intercorp Financial Services by 146.2% during the 2nd quarter. Bank of America Corp DE now owns 2,031 shares of the company’s stock worth $51,000 after buying an additional 1,206 shares during the last quarter. Deutsche Bank AG lifted its position in shares of Intercorp Financial Services by 1,150.0% during the 3rd quarter. Deutsche Bank AG now owns 2,500 shares of the company’s stock worth $56,000 after buying an additional 2,300 shares during the last quarter. Quent Capital LLC bought a new stake in shares of Intercorp Financial Services during the 1st quarter worth $138,000. Bank of New York Mellon Corp bought a new stake in shares of Intercorp Financial Services during the 1st quarter worth $225,000. Finally, Employees Retirement System of Texas lifted its position in shares of Intercorp Financial Services by 116.9% during the 1st quarter. Employees Retirement System of Texas now owns 14,100 shares of the company’s stock worth $487,000 after buying an additional 7,600 shares during the last quarter. Hedge funds and other institutional investors own 8.52% of the company’s stock.

Intercorp Financial Services Company Profile (Get Rating)

Intercorp Financial Services Inc provides banking, insurance, and wealth management services for retail and commercial clients in Peru. The company operates through three segments: Banking, Insurance, and Wealth Management. It provides transactional accounts, such as cuenta sueldo and cuenta simple; savings accounts; investment accounts; and time deposits, certificates of deposit, and compensation for service time accounts.

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