ICICI Bank Limited (NYSE:IBN) Short Interest Down 9.8% in January

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

ICICI Bank Stock Performance

Shares of NYSE:IBN opened at $28.30 on Wednesday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.01 and a quick ratio of 1.01. ICICI Bank has a 1 year low of $25.08 and a 1 year high of $32.14. The firm has a market capitalization of $99.88 billion, a PE ratio of 18.74, a P/E/G ratio of 1.55 and a beta of 0.98. The business’s 50 day moving average price is $29.37 and its 200-day moving average price is $29.55.

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

Hedge Funds Weigh In On ICICI Bank

A number of institutional investors and hedge funds have recently bought and sold shares of IBN. CWM LLC boosted its holdings in shares of ICICI Bank by 4.7% during the 3rd quarter. CWM LLC now owns 9,371 shares of the bank’s stock worth $280,000 after purchasing an additional 420 shares during the last quarter. Creative Planning boosted its stake in ICICI Bank by 5.7% during the third quarter. Creative Planning now owns 47,930 shares of the bank’s stock worth $1,431,000 after buying an additional 2,572 shares during the last quarter. Bleakley Financial Group LLC grew its holdings in ICICI Bank by 3.8% in the 3rd quarter. Bleakley Financial Group LLC now owns 33,395 shares of the bank’s stock valued at $997,000 after buying an additional 1,212 shares in the last quarter. Whittier Trust Co. increased its stake in shares of ICICI Bank by 24.1% in the 3rd quarter. Whittier Trust Co. now owns 33,567 shares of the bank’s stock worth $1,002,000 after acquiring an additional 6,509 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. raised its holdings in shares of ICICI Bank by 47.4% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 5,246 shares of the bank’s stock worth $157,000 after acquiring an additional 1,687 shares during the period. 18.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

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.