Short-term stake in Intercorp Financial Services Inc. (NYSE:IFS) drops 16.3%

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Intercorp Financial Services Inc. (NYSE: IFS – Get Rating) experienced a significant drop in short interest during the month of August. As of August 31, there was short interest totaling 58,000 shares, down 16.3% from the total of 69,300 shares as of August 15. Based on an average trading volume of 39,700 shares, the day-to-cover ratio is currently 1.5 days.

Analysts set new price targets

A number of research companies have weighed in on IFS recently. TheStreet upgraded Intercorp Financial Services from a ‘d’ to a ‘c+’ rating in a Monday, August 29 report. Grupo Santander upgraded Intercorp Financial Services from a “neutral” rating to an “outperforming” rating and set a price target of $29.00 for the company in a Wednesday, August 24 report. Two investment analysts gave the stock a hold rating and two gave the company a buy rating. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $31.75.

Intercorp Financial Services Price Performance

Shares of NYSE IFS traded down $0.11 during Friday trading, hitting $21.58. The company had a trading volume of 11,845 shares, compared to an average volume of 32,473. The stock has a market capitalization of $2.49 billion, a PE ratio of 6.68, a growth price-earnings ratio of 0.51 and a beta of 1.39. The company has a current ratio of 1.16, a quick ratio of 1.15 and a debt ratio of 0.88. Intercorp Financial Services has a 12-month low of $20.95 and a 12-month high of $37.64. The stock has a 50-day moving average price of $23.03 and a 200-day moving average price of $26.74.

Intercorp Financial Services (NYSE:IFS – Get Rating) last reported quarterly earnings data on Monday, August 15. The company reported EPS of $0.58 for the quarter, missing analyst consensus estimates of $0.94 per ($0.36). The company posted revenue of $333.88 million in the quarter, compared to $338.76 million expected by analysts. Intercorp Financial Services posted a net margin of 32.00% and a return on equity of 15.36%. As a group, sell-side analysts expect Intercorp Financial Services to post 3.4 earnings per share for the current year.

Institutional investors weigh in on Intercorp Financial Services

A number of hedge funds and other institutional investors have recently changed their positions in the company. Franklin Resources Inc. increased its position in shares of Intercorp Financial Services by 1.0% in the second quarter. Franklin Resources Inc. now owns 2,818,271 shares of the company valued at $65,948,000 after purchasing an additional 29,061 shares during the period. BlackRock Inc. increased its position in Intercorp Financial Services shares by 6.5% in the first quarter. BlackRock Inc. now owns 806,575 shares of the company valued at $27,867,000 after purchasing an additional 49,574 shares during the period. Schroder Investment Management Group increased its position in Intercorp Financial Services by 88.4% during the fourth quarter. Schroder Investment Management Group now owns 267,222 shares of the company valued at $7,049,000 after acquiring an additional 125,380 shares during the period. Handelsbanken Fonder AB increased its position in Intercorp Financial Services by 7.8% in the first quarter. Handelsbanken Fonder AB now owns 246,345 shares of the company valued at $8,511,000 after acquiring an additional 17,800 shares during the period. Finally, State Street Corp increased its position in Intercorp Financial Services by 39.9% during the second quarter. State Street Corp now owns 205,896 shares of the company valued at $4,818,000 after acquiring an additional 58,681 shares during the period. Hedge funds and other institutional investors hold 7.84% of the company’s shares.

Intercorp Financial Services Company Profile

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Intercorp Financial Services Inc provides banking, insurance and wealth management services to retail and business clients in Peru. The Company operates through three segments: Banking, Insurance and Wealth Management. It provides transactional accounts, such as cuenta sueldo and cuenta simple; savings accounts; investment accounts; and term deposits, certificates of deposit and compensation for time-of-service accounts.

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