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

ICICI Bank Limited (NYSE:IBN) saw a significant drop in short interest in the month of December. As of December 31st, there was short interest totalling 24,230,000 shares, a drop of 6.4% from the December 15th total of 25,890,000 shares. Based on an average daily trading volume, of 4,420,000 shares, the days-to-cover ratio is presently 5.5 days.

ICICI Bank Trading Down 2.3 %

Shares of IBN traded down $0.66 during trading on Monday, reaching $28.15. 3,820,246 shares of the company traded hands, compared to its average volume of 2,501,369. The stock has a 50-day simple moving average of $30.15 and a 200-day simple moving average of $29.62. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.74. ICICI Bank has a twelve month low of $23.32 and a twelve month high of $32.14. The stock has a market cap of $99.33 billion, a PE ratio of 19.15, a price-to-earnings-growth ratio of 1.71 and a beta of 0.99.

Institutional Trading of ICICI Bank

A number of institutional investors and hedge funds have recently added to or reduced their stakes in IBN. Asset Dedication LLC grew its stake in shares of ICICI Bank by 620.0% in the third quarter. Asset Dedication LLC now owns 1,008 shares of the bank’s stock valued at $30,000 after buying an additional 868 shares in the last quarter. ORG Wealth Partners LLC purchased a new position in ICICI Bank during the 3rd quarter valued at about $50,000. Tsfg LLC acquired a new position in ICICI Bank in the 3rd quarter valued at about $53,000. Hobbs Group Advisors LLC purchased a new stake in ICICI Bank during the third quarter worth about $54,000. Finally, JFS Wealth Advisors LLC lifted its position in shares of ICICI Bank by 22.4% during the third quarter. JFS Wealth Advisors LLC now owns 2,875 shares of the bank’s stock worth $86,000 after purchasing an additional 526 shares in the last quarter. Hedge funds and other institutional investors own 18.18% of the company’s stock.

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.