Intercorp Financial Services Inc. (NYSE:IFS) Sees Large Increase in Short Interest

Intercorp Financial Services Inc. (NYSE:IFS) was the recipient of a significant increase in short interest in the month of March. As of March 31st, there was short interest totaling 311,525 shares, an increase of 18.7% from the March 15th total of 262,552 shares. Currently, 0.3% of the shares of the company are sold short. Based on an average daily volume of 221,430 shares, the days-to-cover ratio is currently 1.4 days.

Intercorp Financial Services Trading Down 0.1%

Shares of Intercorp Financial Services stock opened at $49.13 on Friday. The stock has a market capitalization of $5.62 billion, a price-to-earnings ratio of 10.19, a PEG ratio of 0.39 and a beta of 0.85. Intercorp Financial Services has a twelve month low of $30.59 and a twelve month high of $53.00. The business’s 50 day simple moving average is $48.55 and its 200-day simple moving average is $44.75.

Intercorp Financial Services Increases Dividend

The business also recently disclosed an annual dividend, which will be paid on Tuesday, May 5th. Investors of record on Friday, April 24th will be paid a dividend of $1.80 per share. This represents a yield of 358.0%. The ex-dividend date is Friday, April 24th. This is an increase from Intercorp Financial Services’s previous annual dividend of $1.00. Intercorp Financial Services’s dividend payout ratio (DPR) is currently 19.71%.

Institutional Investors Weigh In On Intercorp Financial Services

A number of hedge funds have recently added to or reduced their stakes in IFS. Caitong International Asset Management Co. Ltd boosted its holdings in shares of Intercorp Financial Services by 106.4% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 745 shares of the company’s stock valued at $32,000 after acquiring an additional 384 shares during the period. Blue Trust Inc. acquired a new stake in shares of Intercorp Financial Services in the 4th quarter worth about $94,000. Centiva Capital LP acquired a new stake in shares of Intercorp Financial Services in the 3rd quarter worth about $216,000. SG Americas Securities LLC lifted its position in Intercorp Financial Services by 43.1% in the 4th quarter. SG Americas Securities LLC now owns 5,308 shares of the company’s stock valued at $225,000 after purchasing an additional 1,599 shares during the last quarter. Finally, Pinnacle Associates Ltd. bought a new stake in Intercorp Financial Services in the 3rd quarter valued at about $275,000.

Wall Street Analyst Weigh In

IFS has been the subject of several recent research reports. Weiss Ratings reissued a “buy (b-)” rating on shares of Intercorp Financial Services in a report on Monday, December 29th. Wall Street Zen lowered shares of Intercorp Financial Services from a “buy” rating to a “hold” rating in a report on Tuesday, March 10th. Two research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $48.00.

Intercorp Financial Services Company Profile

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.