Intercorp Financial Services Inc. (NYSE:IFS) Short Interest Down 7.1% in October

Intercorp Financial Services Inc. (NYSE:IFS) saw a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 70,300 shares, a decline of 7.1% from the October 15th total of 75,700 shares. Based on an average trading volume of 51,000 shares, the days-to-cover ratio is currently 1.4 days. Approximately 0.2% of the company’s stock are sold short.

Insider Buying and Selling

In other news, major shareholder Peru Ltd Intercorp bought 482,199 shares of the stock in a transaction that occurred on Thursday, November 9th. The stock was purchased at an average price of $20.00 per share, for a total transaction of $9,643,980.00. Following the completion of the purchase, the insider now owns 494,699 shares in the company, valued at approximately $9,893,980. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link.

Hedge Funds Weigh In On Intercorp Financial Services

A number of large investors have recently made changes to their positions in IFS. FMR LLC boosted its position in shares of Intercorp Financial Services by 11.0% in the 3rd quarter. FMR LLC now owns 2,953,858 shares of the company’s stock worth $66,521,000 after buying an additional 293,910 shares in the last quarter. BlackRock Inc. grew its position in shares of Intercorp Financial Services by 6.5% in the first quarter. BlackRock Inc. now owns 806,575 shares of the company’s stock valued at $27,867,000 after purchasing an additional 49,574 shares during the last quarter. Schroder Investment Management Group increased its stake in shares of Intercorp Financial Services by 3.7% during the 3rd quarter. Schroder Investment Management Group now owns 720,754 shares of the company’s stock worth $16,231,000 after purchasing an additional 25,601 shares in the last quarter. State Street Corp raised its position in shares of Intercorp Financial Services by 11.4% during the 3rd quarter. State Street Corp now owns 229,431 shares of the company’s stock worth $4,602,000 after purchasing an additional 23,535 shares during the last quarter. Finally, Millennium Management LLC purchased a new stake in Intercorp Financial Services in the 4th quarter valued at approximately $3,871,000.

Intercorp Financial Services Price Performance

IFS stock traded up $0.29 on Friday, reaching $19.11. 61,054 shares of the company’s stock were exchanged, compared to its average volume of 47,550. The stock has a fifty day moving average of $20.88 and a 200-day moving average of $22.63. The company has a current ratio of 1.15, a quick ratio of 1.12 and a debt-to-equity ratio of 0.61. Intercorp Financial Services has a twelve month low of $17.94 and a twelve month high of $26.02.

Analyst Ratings Changes

Separately, Jefferies Financial Group assumed coverage on Intercorp Financial Services in a research note on Monday, October 16th. They set a “buy” rating and a $34.90 price target on the stock.

Intercorp Financial Services Company Profile

Intercorp Financial Services Inc provides 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.