Intercorp Financial Services Inc. (NYSE: IFS) saw a significant increase in short positions in June. As of June 30, there was short interest totaling 70,700 shares, an increase of 84.6% compared to June 15 with a total of 38,300 shares. Based on an average daily trading volume of 72,000 shares, the short interest ratio is currently 1.0 days. Currently, 0.2% of the company’s shares are being sold short.
Several research firms recently looked at IFS. Grupo Santander downgraded Intercorp Financial Services from a “buy” rating to a “hold” rating in a report dated Wednesday June 16. Zacks Investment Research downgraded Intercorp Financial Services from a “buy” rating to a “hold” rating in a report on Thursday. Finally, JPMorgan Chase & Co. reiterated an “underweight” rating and announced in a research release on Monday the 26. A research analyst for stocks gave the stock a sell rating, three a hold rating and one a buy rating for the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $ 31.25.
A number of hedge funds have recently bought and sold shares in the stock. The Schroder Investment Management Group increased its stake in Intercorp Financial Services by 85.9% in the first quarter. Schroder Investment Management Group now owns 354,269 shares in the company valued at $ 10,593,000 after purchasing an additional 163,666 shares during the reporting period. Morgan Stanley increased its stake in Intercorp Financial Services 804.6% in the first quarter. Morgan Stanley now owns 16,953 shares in the company valued at $ 507,000 after purchasing an additional 15,079 shares during the reporting period. Citadel Advisors LLC increased its stake in Intercorp Financial Services by 31.2% in the first quarter. Citadel Advisors LLC now owns 20,560 shares in the company valued at $ 615,000 after purchasing an additional 4,887 shares during the reporting period. Goldman Sachs Group Inc. increased its stake in Intercorp Financial Services by 0.5% in the first quarter. Goldman Sachs Group Inc. now owns 1,359,932 shares in the company valued at $ 40,662,000 after purchasing an additional 7,184 shares during the period. Finally, Credit Suisse AG increased its stake in Intercorp Financial Services by 62.5% in the first quarter. Credit Suisse AG now owns 22,568 shares in the company valued at $ 675,000 after purchasing an additional 8,684 shares during the reporting period. 9.15% of the shares are currently owned by institutional investors and hedge funds.
IFS stock traded around $ 0.31 during Friday midday trading to hit $ 23.14. 80,102 shares were exchanged, with an average volume of 66,495 shares. The company has a market capitalization of $ 2.64 billion and a P / E of 12.85. Intercorp Financial Services has a 52-week low of $ 19.23 and a 52-week high of $ 35.96. The company has a 50-day moving average of $ 26.32. The company has a quick ratio of 1.19, a current ratio of 1.19 and debt of 0.90.
Intercorp Financial Services (NYSE: IFS) last announced its earnings results on Thursday, May 13th. The company reported $ 1.25 EPS for the quarter, beating Thomson Reuters’ consensus estimate of $ 0.67 by $ 0.58. The company posted revenue of $ 296.78 million for the quarter, compared to the consensus estimate of $ 333.72 million. Intercorp Financial Services achieved a return on equity of 20.75% and a net margin of 15.75%. As a group, sell-side analysts expect Intercorp Financial Services to post 3.44 EPS for the current year.
About Intercorp Financial Services
Intercorp Financial Services Inc provides banking, insurance, and asset management services to private and business clients in Peru. The company operates in three segments: banking, insurance and asset management. It offers transaction accounts such as Cuenta Sueldo and Cuenta Simple; Savings accounts; Investment accounts; and term deposits, certificates of deposit and compensation for service accounts.
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