Intercorp Financial Services Inc. (NYSE:IFS) Short Interest Down 49.3% in May

Intercorp Financial Services Inc. (NYSE:IFS – Get Rating) was the target of a large drop in short interest in the month of May. As of May 15th, there was short interest totalling 79,000 shares, a drop 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.

A number of hedge funds and other institutional investors have recently modified their holdings of IFS. Franklin Resources Inc. grew its holdings in shares of Intercorp Financial Services by 30.2% during the 3rd quarter. Franklin Resources Inc. now owns 3,179,544 shares of the company’s stock worth $70,999,000 after purchasing an additional 737,900 shares in the last quarter. BlackRock Inc. boosted its stake in Intercorp Financial Services by 6.5% in the first quarter. BlackRock Inc. now owns 806,575 shares of the company’s stock worth $27,867,000 after purchasing an additional 49,574 shares in the last quarter. Schroder Investment Management Group boosted its stake in Intercorp Financial Services by 88.4% in the fourth quarter. Schroder Investment Management Group now owns 267,222 shares of the company’s stock worth $7,049,000 after purchasing an additional 125,380 shares in the last quarter. Handelsbanken Fonder AB boosted its stake in Intercorp Financial Services by 7.8% in the first quarter. Handelsbanken Fonder AB now owns 246,345 shares of the company’s stock worth $8,511,000 after purchasing an additional 17,800 shares in the last quarter. Finally, State Street Corp raised its position in shares of Intercorp Financial Services by 10.6% during the first quarter. State Street Corp now owns 147,215 shares of the company’s stock worth $5,086,000 after acquiring an additional 14,130 shares during the last quarter. 8.52% of the stock is currently owned by institutional investors.

IFS has been the subject of a number of recent analyst reports. Itaú Unibanco lowered 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 report on Friday, March 11th. Itau BBA Securities lowered Intercorp Financial Services from an “outperform” rating to a “market perform” rating and set a $35.00 price objective for the company. in a research report on Friday, March 11th. Finally, Zacks Investment Research upgraded Intercorp Financial Services from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a research report on Wednesday, May 11th. Four research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $30.60.

Shares of Intercorp Financial Services stock traded down $0.29 during trading on Friday, hitting $26.03. 28,002 shares of the stock traded hands, compared to its average volume of 63,905. The stock has a market cap of $3.00 billion, a P/E ratio of 7.05, a PEG ratio of 0.47 and a beta of 1.46. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.21 and a current ratio of 1.15. Intercorp Financial Services has a twelve month low of $17.67 and a twelve month high of $37.64. The company has a fifty day moving average price of $29.86 and a two-hundred day moving average price of $29.25.

The business also recently disclosed an annual dividend, which was paid on Friday, May 6th. Investors of record on Thursday, April 28th were paid a $1.75 dividend. 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 (DPR) is presently 44.99%.

About Intercorp Financial Services (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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