Short Interest in Intercorp Financial Services Inc. (NYSE:IFS) Expands By 79.9%

Intercorp Financial Services Inc. (NYSE:IFS) was the recipient of a large growth in short interest in the month of May. As of May 15th, there was short interest totaling 431,165 shares, a growth of 79.9% from the April 30th total of 239,651 shares. Approximately 0.4% of the company’s shares are short sold. Based on an average daily trading volume, of 220,732 shares, the days-to-cover ratio is presently 2.0 days.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. JPMorgan Chase & Co. increased their target price on shares of Intercorp Financial Services from $48.00 to $56.00 and gave the company an “overweight” rating in a research report on Wednesday, May 20th. Zacks Research upgraded shares of Intercorp Financial Services from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 12th. Weiss Ratings reiterated a “buy (b)” rating on shares of Intercorp Financial Services in a research note on Friday, May 22nd. Finally, Wall Street Zen raised Intercorp Financial Services from a “hold” rating to a “buy” rating in a report on Saturday, May 16th. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Buy rating to the company. Based on data from MarketBeat, Intercorp Financial Services presently has an average rating of “Buy” and an average target price of $56.00.

Intercorp Financial Services Stock Performance

Intercorp Financial Services stock opened at $50.21 on Tuesday. The firm’s 50 day simple moving average is $47.85 and its 200 day simple moving average is $45.88. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 0.61. Intercorp Financial Services has a 1-year low of $34.47 and a 1-year high of $53.00. The firm has a market capitalization of $5.58 billion, a PE ratio of 9.39, a price-to-earnings-growth ratio of 0.70 and a beta of 0.77.

Intercorp Financial Services (NYSE:IFS) last announced its quarterly earnings data on Tuesday, March 31st. The company reported $1.54 earnings per share for the quarter. Intercorp Financial Services had a return on equity of 17.49% and a net margin of 30.53%.The company had revenue of $508.76 million for the quarter. As a group, analysts expect that Intercorp Financial Services will post 5.82 earnings per share for the current fiscal year.

Intercorp Financial Services Increases Dividend

The business also recently declared an annual dividend, which was paid on Tuesday, May 5th. Shareholders of record on Friday, April 24th were paid a $1.80 dividend. This is an increase from Intercorp Financial Services’s previous annual dividend of $1.00. The ex-dividend date of this dividend was Friday, April 24th. This represents a yield of 401.0%. Intercorp Financial Services’s payout ratio is presently 31.96%.

Hedge Funds Weigh In On Intercorp Financial Services

A number of institutional investors have recently bought and sold shares of IFS. Caitong International Asset Management Co. Ltd lifted its position in Intercorp Financial Services by 106.4% during the 4th quarter. Caitong International Asset Management Co. Ltd now owns 745 shares of the company’s stock valued at $32,000 after acquiring an additional 384 shares during the period. Blue Trust Inc. bought a new stake in shares of Intercorp Financial Services in the 4th quarter worth approximately $94,000. DGS Capital Management LLC purchased a new stake in shares of Intercorp Financial Services in the 1st quarter worth approximately $213,000. Centiva Capital LP purchased a new stake in shares of Intercorp Financial Services during the third quarter valued at $216,000. Finally, SG Americas Securities LLC increased its holdings in Intercorp Financial Services by 43.1% in the 4th 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 in the last quarter.

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.