Short Interest in ICICI Bank Limited (NYSE:IBN) Expands By 10.0%

ICICI Bank Limited (NYSE:IBN) was the target of a significant growth in short interest during the month of October. As of October 31st, there was short interest totalling 32,590,000 shares, a growth of 10.0% from the October 15th total of 29,630,000 shares. Based on an average daily trading volume, of 5,470,000 shares, the short-interest ratio is presently 6.0 days.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised ICICI Bank from a “sell” rating to a “hold” rating in a report on Thursday, September 5th.

ICICI Bank Stock Performance

Shares of ICICI Bank stock traded up $0.29 during trading hours on Monday, hitting $29.75. 5,003,150 shares of the company were exchanged, compared to its average volume of 5,505,049. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.74. The business has a 50-day moving average of $29.97 and a 200-day moving average of $28.71. ICICI Bank has a 1 year low of $22.07 and a 1 year high of $31.60. The stock has a market capitalization of $104.84 billion, a price-to-earnings ratio of 20.24, a P/E/G ratio of 1.97 and a beta of 1.02.

Institutional Trading of ICICI Bank

Several hedge funds and other institutional investors have recently made changes to their positions in IBN. Fifth Third Bancorp boosted its holdings in ICICI Bank by 0.6% in the 2nd quarter. Fifth Third Bancorp now owns 65,137 shares of the bank’s stock valued at $1,877,000 after purchasing an additional 361 shares in the last quarter. Continuum Advisory LLC lifted its holdings in shares of ICICI Bank by 0.6% in the 3rd quarter. Continuum Advisory LLC now owns 71,856 shares of the bank’s stock valued at $2,129,000 after buying an additional 404 shares during the period. CWM LLC boosted its stake in shares of ICICI Bank by 4.7% in the third quarter. CWM LLC now owns 9,371 shares of the bank’s stock valued at $280,000 after buying an additional 420 shares in the last quarter. RMR Wealth Builders grew its holdings in ICICI Bank by 2.5% during the second quarter. RMR Wealth Builders now owns 20,588 shares of the bank’s stock worth $593,000 after acquiring an additional 500 shares during the period. Finally, JFS Wealth Advisors LLC raised its position in ICICI Bank by 22.4% in the third quarter. JFS Wealth Advisors LLC now owns 2,875 shares of the bank’s stock worth $86,000 after acquiring an additional 526 shares in the last quarter. Hedge funds and other institutional investors own 18.18% of the company’s stock.

About ICICI Bank

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.