Intercorp Financial Services Inc. (NYSE:IFS) Short Interest Up 16.5% in October

Intercorp Financial Services Inc. (NYSE:IFS) was the target of a significant growth in short interest in the month of October. As of October 31st, there was short interest totalling 46,500 shares, a growth of 16.5% from the October 15th total of 39,900 shares. Based on an average trading volume of 121,700 shares, the days-to-cover ratio is currently 0.4 days. Approximately 0.1% of the shares of the stock are short sold.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. reduced their target price on shares of Intercorp Financial Services from $31.00 to $30.00 and set an “overweight” rating for the company in a report on Thursday, September 12th.

Intercorp Financial Services Stock Up 0.9 %

Shares of NYSE:IFS opened at $28.30 on Monday. Intercorp Financial Services has a 1-year low of $18.48 and a 1-year high of $30.59. The company has a debt-to-equity ratio of 0.56, a quick ratio of 1.12 and a current ratio of 1.12. The company has a 50 day moving average price of $26.41 and a 200 day moving average price of $24.17.

Insider Activity at Intercorp Financial Services

In related news, major shareholder Peru Ltd Intercorp acquired 247,311 shares of the stock in a transaction that occurred on Friday, September 27th. The shares were acquired at an average price of $19.65 per share, for a total transaction of $4,859,661.15. Following the completion of the purchase, the insider now directly owns 1,842,999 shares of the company’s stock, valued at $36,214,930.35. The trade was a 15.50 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website.

Institutional Trading of Intercorp Financial Services

Large investors have recently added to or reduced their stakes in the business. Geode Capital Management LLC boosted its stake in Intercorp Financial Services by 2.4% in the 3rd quarter. Geode Capital Management LLC now owns 16,799 shares of the company’s stock worth $439,000 after purchasing an additional 401 shares during the period. Public Employees Retirement System of Ohio acquired a new position in Intercorp Financial Services in the 3rd quarter worth approximately $423,000. XTX Topco Ltd acquired a new position in Intercorp Financial Services in the 3rd quarter worth approximately $288,000. Jane Street Group LLC acquired a new position in Intercorp Financial Services in the 3rd quarter worth approximately $447,000. Finally, State Street Corp boosted its stake in Intercorp Financial Services by 13.3% in the 3rd quarter. State Street Corp now owns 143,413 shares of the company’s stock worth $3,747,000 after purchasing an additional 16,793 shares during the period.

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.