ICICI Bank Limited (NYSE:IBN) Short Interest Update

ICICI Bank Limited (NYSE:IBN) was the target of a significant decline in short interest in November. As of November 15th, there was short interest totalling 30,100,000 shares, a decline of 7.6% from the October 31st total of 32,590,000 shares. Based on an average daily trading volume, of 5,430,000 shares, the days-to-cover ratio is currently 5.5 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.

ICICI Bank Stock Performance

IBN remained flat at $30.55 during trading hours on Monday. 6,811,371 shares of the company traded hands, compared to its average volume of 5,485,108. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.00 and a current ratio of 1.00. ICICI Bank has a 1 year low of $23.16 and a 1 year high of $31.60. The stock has a market cap of $107.76 billion, a price-to-earnings ratio of 20.78, a P/E/G ratio of 2.04 and a beta of 1.02. The stock’s 50-day moving average price is $30.06 and its 200 day moving average price is $28.92.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Fifth Third Bancorp grew its position in shares of ICICI Bank by 0.6% during the second quarter. Fifth Third Bancorp now owns 65,137 shares of the bank’s stock worth $1,877,000 after buying an additional 361 shares in the last quarter. Continuum Advisory LLC increased its position 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 purchasing an additional 404 shares during the last quarter. CWM LLC raised its holdings in shares of ICICI Bank by 4.7% in the 3rd quarter. CWM LLC now owns 9,371 shares of the bank’s stock valued at $280,000 after purchasing an additional 420 shares in the last quarter. RMR Wealth Builders grew its stake in shares of 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 purchasing an additional 500 shares in the last quarter. Finally, JFS Wealth Advisors LLC increased its holdings in ICICI Bank by 22.4% in the third 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.

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.