Intercorp Financial Services Inc. (NYSE:IFS) Short Interest Up 24.2% in March

Intercorp Financial Services Inc. (NYSE:IFS) was the target of a large increase in short interest in the month of March. As of March 13th, there was short interest totaling 262,552 shares, an increase of 24.2% from the February 26th total of 211,321 shares. Based on an average trading volume of 297,106 shares, the short-interest ratio is presently 0.9 days. Currently, 0.2% of the company’s shares are short sold.

Analysts Set New Price Targets

IFS has been the topic of several recent research reports. Weiss Ratings reissued a “buy (b-)” rating on shares of Intercorp Financial Services in a research report on Monday, December 29th. JPMorgan Chase & Co. lifted their target price on shares of Intercorp Financial Services from $42.00 to $48.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 16th. Finally, Wall Street Zen lowered shares of Intercorp Financial Services from a “buy” rating to a “hold” rating in a report on Tuesday, March 10th. Two equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $48.00.

Hedge Funds Weigh In On Intercorp Financial Services

A number of hedge funds have recently modified their holdings of IFS. Caitong International Asset Management Co. Ltd raised its holdings in Intercorp Financial Services by 106.4% in the 4th quarter. Caitong International Asset Management Co. Ltd now owns 745 shares of the company’s stock valued at $32,000 after buying an additional 384 shares during the period. Blue Trust Inc. acquired a new position in Intercorp Financial Services in the fourth quarter valued at about $94,000. Centiva Capital LP purchased a new position in Intercorp Financial Services during the third quarter worth about $216,000. SG Americas Securities LLC boosted its stake in Intercorp Financial Services by 43.1% during the fourth quarter. SG Americas Securities LLC now owns 5,308 shares of the company’s stock worth $225,000 after buying an additional 1,599 shares during the period. Finally, Pinnacle Associates Ltd. acquired a new stake in shares of Intercorp Financial Services during the third quarter valued at about $275,000.

Intercorp Financial Services Trading Up 1.3%

Intercorp Financial Services stock traded up $0.60 during mid-day trading on Monday, hitting $48.23. The company’s stock had a trading volume of 331,816 shares, compared to its average volume of 248,897. The stock’s fifty day moving average is $48.15 and its two-hundred day moving average is $43.80. The firm has a market capitalization of $5.52 billion, a PE ratio of 10.01, a price-to-earnings-growth ratio of 0.38 and a beta of 0.83. Intercorp Financial Services has a 1 year low of $29.09 and a 1 year high of $52.58.

About Intercorp Financial Services

Intercorp Financial Services (NYSE:IFS) is a Lima-based financial holding company that brings together a suite of banking and non-banking financial businesses under the Intercorp Group umbrella. Through its network of subsidiaries, the company provides a broad range of products and services designed to meet the needs of individual consumers, small and medium-sized enterprises, and large corporations across Peru.

The company’s core banking operations are conducted through Interbank, which offers deposit accounts, personal and business loans, credit and debit cards, trade finance and electronic banking solutions.