ICICI Bank Limited (NYSE:IBN) Short Interest Up 7.0% in October

ICICI Bank Limited (NYSE:IBN) was the recipient of a large increase in short interest in the month of October. As of October 31st, there was short interest totalling 15,540,000 shares, an increase of 7.0% from the October 15th total of 14,530,000 shares. Based on an average daily volume of 4,130,000 shares, the short-interest ratio is currently 3.8 days.

Analyst Upgrades and Downgrades

Separately, StockNews.com assumed coverage on ICICI Bank in a research note on Thursday, October 5th. They set a “hold” rating on the stock.

ICICI Bank Stock Down 0.3 %

Shares of IBN traded down $0.07 during mid-day trading on Friday, reaching $22.19. 4,285,955 shares of the stock traded hands, compared to its average volume of 4,951,737. The firm has a market cap of $77.74 billion, a price-to-earnings ratio of 17.47, a P/E/G ratio of 1.71 and a beta of 0.96. The stock has a fifty day simple moving average of $22.81 and a 200 day simple moving average of $23.10. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.79. ICICI Bank has a 12-month low of $19.34 and a 12-month high of $24.80.

ICICI Bank (NYSE:IBN) last issued its quarterly earnings data on Wednesday, October 25th. The bank reported $0.35 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.04. ICICI Bank had a net margin of 24.23% and a return on equity of 16.36%. The firm had revenue of $2.91 billion for the quarter. Sell-side analysts expect that ICICI Bank will post 1.31 EPS for the current fiscal year.

Institutional Investors Weigh In On ICICI Bank

Hedge funds and other institutional investors have recently bought and sold shares of the business. Ameliora Wealth Management Ltd. acquired a new stake in ICICI Bank in the third quarter valued at $28,000. Psagot Value Holdings Ltd. Israel acquired a new position in shares of ICICI Bank in the 1st quarter worth approximately $31,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in ICICI Bank during the second quarter valued at $31,000. Syverson Strege & Co acquired a new stake in shares of ICICI Bank during the first quarter worth $34,000. Finally, FinTrust Capital Advisors LLC lifted its position in shares of ICICI Bank by 66.9% in the 4th quarter. FinTrust Capital Advisors LLC now owns 1,709 shares of the bank’s stock worth $37,000 after buying an additional 685 shares during the last quarter. 18.02% of the stock is currently owned by hedge funds and other institutional investors.

ICICI Bank Company Profile

ICICI Bank Limited provides various banking products and services in India and internationally. It operates through Retail Banking, Wholesale Banking, Treasury, Other Banking, Life Insurance, and Others segments. The company offers savings, salary, pension, current, and other accounts; and time, fixed, recurring, and security deposits services.