Short Interest in ICICI Bank Limited (NYSE:IBN) Rises By 7.0%

ICICI Bank Limited (NYSE:IBN) was the recipient of a large growth in short interest in the month of October. As of October 31st, there was short interest totalling 15,540,000 shares, a growth 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 days-to-cover ratio is currently 3.8 days.

ICICI Bank Stock Down 0.3 %

IBN traded down $0.07 during trading hours on Friday, hitting $22.19. 4,252,185 shares of the company’s stock were exchanged, compared to its average volume of 4,951,556. The stock has a market cap of $77.74 billion, a price-to-earnings ratio of 17.54, a PEG ratio of 1.71 and a beta of 0.96. ICICI Bank has a 1-year low of $19.34 and a 1-year high of $24.80. The stock’s 50-day moving average is $22.84 and its two-hundred day moving average is $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 (NYSE:IBN) last posted 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. The company had revenue of $2.91 billion during the quarter. ICICI Bank had a net margin of 24.23% and a return on equity of 16.36%. Sell-side analysts predict that ICICI Bank will post 1.31 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in IBN. Ameliora Wealth Management Ltd. bought a new stake in shares of ICICI Bank in the 3rd quarter valued at about $28,000. Psagot Value Holdings Ltd. Israel acquired a new position in ICICI Bank during the first quarter worth approximately $31,000. Harel Insurance Investments & Financial Services Ltd. bought a new stake in ICICI Bank in the second quarter valued at approximately $31,000. Syverson Strege & Co acquired a new stake in shares of ICICI Bank in the first quarter valued at approximately $34,000. Finally, FinTrust Capital Advisors LLC boosted its stake in shares of ICICI Bank by 66.9% during the 4th quarter. FinTrust Capital Advisors LLC now owns 1,709 shares of the bank’s stock worth $37,000 after acquiring an additional 685 shares during the period. Institutional investors and hedge funds own 18.02% of the company’s stock.

Wall Street Analyst Weigh In

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

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.