Intercorp Financial Services Inc. (NYSE:IFS) Short Interest Up 16.5% in October

Intercorp Financial Services Inc. (NYSE:IFS) was the recipient of a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 46,500 shares, a growth of 16.5% from the October 15th total of 39,900 shares. Based on an average daily volume of 121,700 shares, the short-interest ratio is currently 0.4 days. Approximately 0.1% of the company’s shares are short sold.

Insider Buying and Selling

In related news, major shareholder Peru Ltd Intercorp bought 247,311 shares of the firm’s stock in a transaction on Friday, September 27th. The stock was bought at an average price of $19.65 per share, with a total value of $4,859,661.15. Following the purchase, the insider now directly owns 1,842,999 shares of the company’s stock, valued at approximately $36,214,930.35. This represents a 15.50 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

Institutional Investors Weigh In On Intercorp Financial Services

Institutional investors have recently modified their holdings of the stock. Helikon Investments Ltd raised its holdings in shares of Intercorp Financial Services by 24.8% during the 3rd quarter. Helikon Investments Ltd now owns 974,819 shares of the company’s stock valued at $25,472,000 after purchasing an additional 193,474 shares in the last quarter. Cubist Systematic Strategies LLC bought a new position in shares of Intercorp Financial Services during the 2nd quarter valued at $387,000. Quadrature Capital Ltd bought a new position in shares of Intercorp Financial Services during the 1st quarter valued at $559,000. Lord Abbett & CO. LLC raised its holdings in shares of Intercorp Financial Services by 1.3% during the 1st quarter. Lord Abbett & CO. LLC now owns 187,719 shares of the company’s stock valued at $4,470,000 after purchasing an additional 2,329 shares in the last quarter. Finally, Acadian Asset Management LLC raised its holdings in shares of Intercorp Financial Services by 44.9% during the 2nd quarter. Acadian Asset Management LLC now owns 21,952 shares of the company’s stock valued at $490,000 after purchasing an additional 6,807 shares in the last quarter.

Intercorp Financial Services Trading Up 0.9 %

Shares of NYSE:IFS opened at $28.30 on Monday. The firm has a fifty day moving average of $26.41 and a two-hundred day moving average of $24.17. Intercorp Financial Services has a 12-month low of $18.48 and a 12-month high of $30.59. The company has a debt-to-equity ratio of 0.56, a current ratio of 1.12 and a quick ratio of 1.12.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. decreased their target price on shares of Intercorp Financial Services from $31.00 to $30.00 and set an “overweight” rating for the company in a research note on Thursday, September 12th.

Intercorp Financial Services Company Profile

Intercorp Financial Services Inc, together with its subsidiaries, offers 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.