Intercorp Financial Services Inc. (NYSE:IFS) Short Interest Up 44.4% in February

Intercorp Financial Services Inc. (NYSE:IFS) was the target of a significant growth in short interest in February. As of February 13th, there was short interest totaling 283,202 shares, a growth of 44.4% from the January 29th total of 196,096 shares. Currently, 0.2% of the company’s stock are short sold. Based on an average daily volume of 329,567 shares, the days-to-cover ratio is currently 0.9 days. Based on an average daily volume of 329,567 shares, the days-to-cover ratio is currently 0.9 days. Currently, 0.2% of the company’s stock are short sold.

Intercorp Financial Services Stock Down 2.3%

Intercorp Financial Services stock traded down $1.13 during midday trading on Friday, reaching $48.40. The company’s stock had a trading volume of 221,293 shares, compared to its average volume of 271,945. The business has a 50-day simple moving average of $46.83 and a 200-day simple moving average of $42.79. The company has a market cap of $5.54 billion, a P/E ratio of 10.04, a P/E/G ratio of 0.39 and a beta of 0.84. Intercorp Financial Services has a fifty-two week low of $29.09 and a fifty-two week high of $52.58.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Mackenzie Financial Corp lifted its position in Intercorp Financial Services by 43.9% in the fourth quarter. Mackenzie Financial Corp now owns 13,158 shares of the company’s stock valued at $554,000 after acquiring an additional 4,014 shares during the last quarter. XTX Topco Ltd acquired a new stake in shares of Intercorp Financial Services in the 4th quarter valued at about $455,000. Millennium Management LLC grew its stake in Intercorp Financial Services by 66.7% during the 4th quarter. Millennium Management LLC now owns 639,381 shares of the company’s stock worth $27,084,000 after buying an additional 255,753 shares during the last quarter. Balyasny Asset Management L.P. acquired a new position in Intercorp Financial Services during the fourth quarter worth approximately $294,000. Finally, Armistice Capital LLC acquired a new stake in shares of Intercorp Financial Services in the fourth quarter valued at approximately $301,000.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on IFS. Wall Street Zen cut shares of Intercorp Financial Services from a “buy” rating to a “hold” rating in a report on Sunday, February 22nd. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Intercorp Financial Services in a research report on Monday, December 29th. Finally, JPMorgan Chase & Co. lifted their target price on Intercorp Financial Services from $42.00 to $48.00 and gave the company an “overweight” rating in a report on Tuesday, December 16th. Two equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $48.00.

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.