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

ICICI Bank Limited (NYSE:IBN) was the recipient of a large increase in short interest in October. As of October 31st, there was short interest totalling 32,590,000 shares, an increase of 10.0% from the October 15th total of 29,630,000 shares. Based on an average daily volume of 5,470,000 shares, the days-to-cover ratio is currently 6.0 days.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On ICICI Bank

Several institutional investors and hedge funds have recently made changes to their positions in IBN. National Bank of Canada FI boosted its stake in shares of ICICI Bank by 122.6% during the 3rd quarter. National Bank of Canada FI now owns 5,168,100 shares of the bank’s stock valued at $154,268,000 after buying an additional 2,846,325 shares during the last quarter. BNP Paribas Financial Markets lifted its stake in ICICI Bank by 101.6% during the third quarter. BNP Paribas Financial Markets now owns 4,633,232 shares of the bank’s stock worth $138,302,000 after purchasing an additional 2,334,887 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in ICICI Bank by 313.6% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,932,500 shares of the bank’s stock worth $77,447,000 after purchasing an additional 2,223,400 shares during the last quarter. Capital International Investors lifted its stake in ICICI Bank by 11.5% during the first quarter. Capital International Investors now owns 20,827,332 shares of the bank’s stock worth $550,050,000 after purchasing an additional 2,155,477 shares during the last quarter. Finally, Marshall Wace LLP lifted its stake in ICICI Bank by 7,273.1% during the second quarter. Marshall Wace LLP now owns 2,130,832 shares of the bank’s stock worth $61,389,000 after purchasing an additional 2,101,932 shares during the last quarter. 18.18% of the stock is currently owned by hedge funds and other institutional investors.

ICICI Bank Stock Up 1.0 %

Shares of ICICI Bank stock traded up $0.29 on Monday, hitting $29.75. 5,003,150 shares of the company’s stock traded hands, compared to its average volume of 5,505,049. The stock has a market cap of $104.84 billion, a P/E ratio of 20.04, a PEG ratio of 1.97 and a beta of 1.02. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.74. The firm’s 50-day moving average is $29.96 and its 200 day moving average is $28.69. ICICI Bank has a 52-week low of $22.07 and a 52-week high of $31.60.

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.