Intesa Sanpaolo SpA (OTCMKTS:ISNPY) Sees Significant Drop in Short Interest

Key Points

• Intesa Sanpaolo experienced a remarkable 93.8% decline in short interest, dropping from 724,800 shares to 44,600 shares in September.
• The company's stock price increased by 1.0%, closing at $38.05, with a market cap of $112.91 billion and a P/E ratio of 11.43.
• Analysts have mixed ratings for Intesa Sanpaolo, with two assigning a Strong Buy rating, while Goldman Sachs downgraded it from "buy" to "hold."

Intesa Sanpaolo SpA (OTCMKTS:ISNPY - Get Free Report) was the target of a large decline in short interest during the month of September. As of September 30th, there was short interest totaling 44,600 shares, a decline of 93.8% from the September 15th total of 724,800 shares. Based on an average trading volume of 346,500 shares, the days-to-cover ratio is currently 0.1 days. Based on an average trading volume of 346,500 shares, the days-to-cover ratio is currently 0.1 days.

Intesa Sanpaolo Stock Up 1.0%

Intesa Sanpaolo stock traded up $0.39 during trading hours on Thursday, hitting $38.05. 176,706 shares of the company traded hands, compared to its average volume of 179,133. Intesa Sanpaolo has a 1-year low of $22.32 and a 1-year high of $40.32. The firm has a market cap of $112.91 billion, a P/E ratio of 11.43, a P/E/G ratio of 1.07 and a beta of 1.03. The firm's 50-day simple moving average is $38.46 and its two-hundred day simple moving average is $34.80.

Wall Street Analyst Weigh In

Several research firms have recently commented on ISNPY. Royal Bank Of Canada initiated coverage on shares of Intesa Sanpaolo in a report on Wednesday. They issued an "outperform" rating for the company. Morgan Stanley reaffirmed an "overweight" rating on shares of Intesa Sanpaolo in a report on Tuesday, September 2nd. The Goldman Sachs Group cut Intesa Sanpaolo from a "buy" rating to a "hold" rating in a research report on Wednesday, September 24th. Finally, Zacks Research raised Intesa Sanpaolo from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, October 7th. Two equities research analysts have rated the stock with a Strong Buy rating, two have given a Buy rating and two have assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Buy".

About Intesa Sanpaolo

Intesa Sanpaolo S.p.A. provides various financial products and services primarily in Italy. It operates through six segments: Banca dei Territori, IMI Corporate & Investment Banking, International Subsidiary Banks, Asset Management, Private Banking, and Insurance. The company offers lending and deposit products; private and commercial banking, corporate and transaction banking, structured finance, investment banking, public finance, and capital markets; industrial credit, leasing, and factoring; asset management; life and non-life insurance and pension products; asset and wealth management; private investments; and bancassurance products.

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