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

ICICI Bank Limited (NYSE:IBN) saw a large growth in short interest in 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 volume of 5,470,000 shares, the short-interest ratio is currently 6.0 days.

Institutional Investors Weigh In On ICICI Bank

Several institutional investors and hedge funds have recently made changes to their positions in IBN. Asset Dedication LLC lifted its holdings in ICICI Bank by 620.0% in the 3rd quarter. Asset Dedication LLC now owns 1,008 shares of the bank’s stock valued at $30,000 after purchasing an additional 868 shares in the last quarter. ORG Wealth Partners LLC acquired a new position in shares of ICICI Bank during the 3rd quarter valued at about $50,000. Advisors Asset Management Inc. acquired a new position in shares of ICICI Bank during the 1st quarter valued at about $46,000. Tsfg LLC acquired a new position in shares of ICICI Bank during the 3rd quarter valued at about $53,000. Finally, Hobbs Group Advisors LLC acquired a new stake in ICICI Bank during the 3rd quarter worth approximately $54,000. 18.18% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

ICICI Bank Price Performance

Shares of NYSE IBN traded up $0.29 during trading on Monday, hitting $29.75. 5,003,150 shares of the company were exchanged, compared to its average volume of 5,505,049. ICICI Bank has a 1 year low of $22.07 and a 1 year high of $31.60. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.00 and a quick ratio of 1.00. The firm’s fifty day moving average price is $29.96 and its 200 day moving average price is $28.69. The company has a market cap of $104.84 billion, a price-to-earnings ratio of 20.04, a PEG ratio of 1.97 and a beta of 1.02.

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.