Short Interest in Intercorp Financial Services Inc. (NYSE:IFS) Declines By 9.1%

Intercorp Financial Services Inc. (NYSE:IFSGet Free Report) was the recipient of a significant decline in short interest in the month of December. As of December 31st, there was short interest totalling 55,100 shares, a decline of 9.1% from the December 15th total of 60,600 shares. Approximately 0.2% of the company’s shares are sold short. Based on an average daily trading volume, of 44,700 shares, the short-interest ratio is currently 1.2 days.

Insider Transactions at Intercorp Financial Services

In related news, major shareholder Peru Ltd Intercorp bought 321,466 shares of the company’s stock in a transaction that occurred on Wednesday, December 20th. The stock was bought at an average cost of $20.00 per share, for a total transaction of $6,429,320.00. Following the acquisition, the insider now directly owns 816,166 shares of the company’s stock, valued at approximately $16,323,320. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Institutional Investors Weigh In On Intercorp Financial Services

Large investors have recently modified their holdings of the stock. Bank of New York Mellon Corp bought a new position in Intercorp Financial Services in the first quarter worth about $225,000. American Century Companies Inc. raised its position in shares of Intercorp Financial Services by 42.1% in the 1st quarter. American Century Companies Inc. now owns 24,371 shares of the company’s stock worth $842,000 after acquiring an additional 7,216 shares in the last quarter. BlackRock Inc. raised its position in shares of Intercorp Financial Services by 6.5% in the 1st quarter. BlackRock Inc. now owns 806,575 shares of the company’s stock worth $27,867,000 after acquiring an additional 49,574 shares in the last quarter. Dimensional Fund Advisors LP purchased a new position in shares of Intercorp Financial Services in the 1st quarter valued at approximately $609,000. Finally, Prudential Financial Inc. bought a new stake in shares of Intercorp Financial Services during the first quarter valued at approximately $487,000.

Analyst Upgrades and Downgrades

IFS has been the subject of several analyst reports. Jefferies Financial Group initiated coverage on shares of Intercorp Financial Services in a research report on Monday, October 16th. They set a “buy” rating and a $34.90 price target for the company. JPMorgan Chase & Co. dropped their target price on shares of Intercorp Financial Services from $29.00 to $28.00 and set an “overweight” rating for the company in a report on Tuesday, January 9th.

View Our Latest Analysis on IFS

Intercorp Financial Services Price Performance

IFS opened at $22.59 on Thursday. The stock’s 50 day moving average price is $20.27 and its 200-day moving average price is $21.89. Intercorp Financial Services has a 52-week low of $17.94 and a 52-week high of $25.81.

Intercorp Financial Services (NYSE:IFSGet Free Report) last released its quarterly earnings results on Wednesday, November 8th. The company reported $0.46 earnings per share for the quarter, missing the consensus estimate of $0.63 by ($0.17). The company had revenue of $418.08 million during the quarter, compared to the consensus estimate of $411.56 million. Intercorp Financial Services had a net margin of 19.56% and a return on equity of 12.37%. As a group, sell-side analysts predict that Intercorp Financial Services will post 2.38 earnings per share for the current fiscal year.

Intercorp Financial Services Company Profile

(Get Free Report)

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.

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