Intercorp Financial Services Inc. (NYSE: IFS – Get Rating) was the target of a significant drop in short interest in May. As of May 15, there was short interest totaling 79,000 shares, down 49.3% from the total of 155,800 shares as of April 30. Based on an average daily trading volume of 54,500 shares, the short interest ratio is currently 1.4 days.
Institutional investors and hedge funds have recently changed their positions in the stock. Bank of America Corp DE increased its position in shares of Intercorp Financial Services by 146.2% during the second quarter. Bank of America Corp DE now owns 2,031 shares of the company valued at $51,000 after acquiring 1,206 additional shares in the last quarter. Deutsche Bank AG increased its position in shares of Intercorp Financial Services by 1,150.0% during the third quarter. Deutsche Bank AG now owns 2,500 shares in the company valued at $56,000 after acquiring an additional 2,300 shares last quarter. Quent Capital LLC purchased a new stake in Intercorp Financial Services stock during the first quarter worth approximately $138,000. Bank of New York Mellon Corp purchased a new equity stake in Intercorp Financial Services during the first quarter, valued at approximately $225,000. Finally, Employees Retirement System of Texas increased its position in Intercorp Financial Services shares by 116.9% during the first quarter. Employees Retirement System of Texas now owns 14,100 shares of the company valued at $487,000 after acquiring 7,600 additional shares in the last quarter. 8.52% of the shares are held by institutional investors.
IFS shares opened at $26.32 on Friday. The company has a market capitalization of $3.04 billion, a P/E ratio of 7.13, a price-to-earnings growth ratio of 0.47 and a beta of 1.46. The company has a quick ratio of 1.21, a current ratio of 1.15 and a debt ratio of 0.87. The company has a 50-day moving average of $30.01 and a 200-day moving average of $29.23. Intercorp Financial Services has a 12-month low of $17.67 and a 12-month high of $37.64.
The company also recently declared an annual dividend, which was paid on Friday, May 6. Investors of record on Thursday, April 28 received a dividend of $1.75 per share. The ex-dividend date was Wednesday, April 27. This represents a dividend yield of 4.8%. This is an increase from Intercorp Financial Services’ previous annual dividend of $0.77. Intercorp Financial Services’ dividend payout ratio (DPR) is 44.99%.
Several equity analysts have recently released reports on the stock. Zacks Investment Research upgraded shares of Intercorp Financial Services from a “hold” rating to a “buy” rating and set a target price of $27.00 for the company in a Wednesday, May 11 report. Itau BBA Securities downgraded shares of Intercorp Financial Services from an “outperform” rating to a “market performer” rating and set a target price of $35.00 for the company. in a report on Friday, March 11. Finally, Itaú Unibanco downgraded the shares of Intercorp Financial Services from an “outperforming” rating to a “market performance” rating and set a target price of $35.00 for the company. in a report on Friday, March 11. Four equity research analysts gave the stock a hold rating and two gave the company a buy rating. According to data from MarketBeat.com, Intercorp Financial Services currently has a consensus rating of “Hold” and an average price target of $30.60.
Intercorp Financial Services Company Profile (Get a rating)
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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