Intercorp Financial Services Inc. (NYSE:IFS) Sees Large Growth in Short Interest

Key Points

• Intercorp Financial Services Inc. experienced a significant increase in short interest in August, growing by 152.1% to a total of 145,700 shares.
• The company's stock is currently trading at $41.96, with a market capitalization of $4.80 billion and a P/E ratio of 9.32.
• Analysts have upgraded the stock's rating from "hold" to "strong-buy", reflecting positive sentiment in the market.

Intercorp Financial Services Inc. (NYSE:IFS - Get Free Report) was the recipient of a significant growth in short interest in August. As of August 31st, there was short interest totaling 145,700 shares, a growth of 152.1% from the August 15th total of 57,800 shares. Approximately 0.5% of the company's stock are short sold. Based on an average trading volume of 204,200 shares, the short-interest ratio is currently 0.7 days. Based on an average trading volume of 204,200 shares, the short-interest ratio is currently 0.7 days. Approximately 0.5% of the company's stock are short sold.

Intercorp Financial Services Stock Down 0.0%

Shares of NYSE IFS traded down $0.01 during trading on Friday, reaching $41.96. The company had a trading volume of 178,285 shares, compared to its average volume of 144,960. Intercorp Financial Services has a 12-month low of $24.23 and a 12-month high of $42.21. The stock has a market cap of $4.80 billion, a PE ratio of 9.32, a P/E/G ratio of 0.37 and a beta of 1.16. The business's 50-day moving average is $38.24 and its 200 day moving average is $35.46. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.61.

Analyst Ratings Changes

A number of analysts have weighed in on IFS shares. Zacks Research raised shares of Intercorp Financial Services from a "hold" rating to a "strong-buy" rating in a report on Tuesday, September 2nd. Wall Street Zen raised shares of Intercorp Financial Services from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 16th. One equities research analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Strong Buy".

Insider Transactions at Intercorp Financial Services

In related news, major shareholder Peru Ltd Intercorp purchased 17,803 shares of the business's stock in a transaction that occurred on Tuesday, July 22nd. The shares were purchased at an average cost of $19.66 per share, with a total value of $350,006.98. Following the completion of the acquisition, the insider directly owned 2,946,766 shares of the company's stock, valued at approximately $57,933,419.56. The trade was a 0.61% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Institutional Investors Weigh In On Intercorp Financial Services

Institutional investors have recently modified their holdings of the stock. Employees Retirement System of Texas purchased a new stake in shares of Intercorp Financial Services during the fourth quarter valued at $155,000. FNY Investment Advisers LLC purchased a new stake in shares of Intercorp Financial Services during the first quarter valued at $182,000. Allianz Asset Management GmbH purchased a new stake in shares of Intercorp Financial Services during the second quarter valued at $283,000. Jane Street Group LLC purchased a new stake in shares of Intercorp Financial Services during the first quarter valued at $287,000. Finally, Mackenzie Financial Corp purchased a new stake in shares of Intercorp Financial Services during the first quarter valued at $303,000.

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.

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