ICICI Bank Limited (NYSE:IBN) Sees Large Drop in Short Interest

ICICI Bank Limited (NYSE:IBN) saw a large decrease in short interest during the month of January. As of January 31st, there was short interest totalling 22,430,000 shares, a decrease of 9.8% from the January 15th total of 24,860,000 shares. Based on an average trading volume of 3,990,000 shares, the days-to-cover ratio is currently 5.6 days.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of ICICI Bank from a “hold” rating to a “sell” rating in a research report on Monday, February 3rd.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. abrdn plc increased its stake in shares of ICICI Bank by 43.5% in the third quarter. abrdn plc now owns 115,477 shares of the bank’s stock worth $3,451,000 after acquiring an additional 34,984 shares during the last quarter. US Bancorp DE increased its position in ICICI Bank by 7.2% in the 3rd quarter. US Bancorp DE now owns 510,212 shares of the bank’s stock worth $15,230,000 after purchasing an additional 34,159 shares during the last quarter. BSW Wealth Partners raised its stake in shares of ICICI Bank by 3.4% during the 3rd quarter. BSW Wealth Partners now owns 27,363 shares of the bank’s stock worth $817,000 after purchasing an additional 896 shares in the last quarter. Americana Partners LLC lifted its holdings in shares of ICICI Bank by 5.3% during the 3rd quarter. Americana Partners LLC now owns 11,546 shares of the bank’s stock valued at $345,000 after buying an additional 584 shares during the last quarter. Finally, JFS Wealth Advisors LLC lifted its holdings in shares of ICICI Bank by 22.4% during the 3rd quarter. JFS Wealth Advisors LLC now owns 2,875 shares of the bank’s stock valued at $86,000 after buying an additional 526 shares during the last quarter. 18.18% of the stock is owned by institutional investors and hedge funds.

ICICI Bank Trading Up 0.1 %

Shares of IBN traded up $0.04 during midday trading on Monday, hitting $29.19. The stock had a trading volume of 3,987,353 shares, compared to its average volume of 3,844,086. ICICI Bank has a fifty-two week low of $24.39 and a fifty-two week high of $32.14. The business has a 50-day simple moving average of $29.41 and a two-hundred day simple moving average of $29.55. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.70. The firm has a market cap of $103.03 billion, a P/E ratio of 19.33, a price-to-earnings-growth ratio of 1.55 and a beta of 0.98.

ICICI Bank (NYSE:IBN) last posted its quarterly earnings data on Saturday, January 25th. The bank reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.03. ICICI Bank had a net margin of 24.40% and a return on equity of 15.61%. As a group, equities analysts forecast that ICICI Bank will post 1.54 EPS for the current year.

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.