Short Interest in ICICI Bank Limited (NYSE:IBN) Decreases By 13.5%

ICICI Bank Limited (NYSE:IBN) saw a large decrease in short interest in February. As of February 27th, there was short interest totaling 28,002,654 shares, a decrease of 13.5% from the February 12th total of 32,386,973 shares. Based on an average trading volume of 3,807,252 shares, the short-interest ratio is presently 7.4 days. Approximately 0.8% of the shares of the stock are short sold. Approximately 0.8% of the shares of the stock are short sold. Based on an average trading volume of 3,807,252 shares, the short-interest ratio is presently 7.4 days.

Analyst Upgrades and Downgrades

IBN has been the subject of several recent analyst reports. Wall Street Zen cut shares of ICICI Bank from a “hold” rating to a “sell” rating in a research report on Saturday, December 27th. Weiss Ratings downgraded shares of ICICI Bank from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, February 18th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, the stock presently has a consensus rating of “Hold”.

Hedge Funds Weigh In On ICICI Bank

A number of hedge funds and other institutional investors have recently bought and sold shares of IBN. Morgan Stanley lifted its stake in shares of ICICI Bank by 8.0% in the 4th quarter. Morgan Stanley now owns 53,772,858 shares of the bank’s stock worth $1,602,431,000 after acquiring an additional 3,974,437 shares during the period. Temasek Holdings Private Ltd increased its stake in shares of ICICI Bank by 11.3% during the fourth quarter. Temasek Holdings Private Ltd now owns 29,195,789 shares of the bank’s stock worth $870,035,000 after acquiring an additional 2,964,312 shares during the period. Invesco Ltd. raised its holdings in ICICI Bank by 4.1% during the third quarter. Invesco Ltd. now owns 23,407,285 shares of the bank’s stock worth $707,602,000 after purchasing an additional 928,329 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its position in ICICI Bank by 9.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 18,972,921 shares of the bank’s stock valued at $573,551,000 after purchasing an additional 1,602,152 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in ICICI Bank by 1.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 11,733,336 shares of the bank’s stock valued at $349,660,000 after purchasing an additional 135,945 shares in the last quarter. 18.18% of the stock is currently owned by hedge funds and other institutional investors.

ICICI Bank Stock Performance

NYSE:IBN traded up $0.09 during trading hours on Tuesday, reaching $27.46. 2,829,800 shares of the company’s stock were exchanged, compared to its average volume of 6,646,935. ICICI Bank has a 1-year low of $26.58 and a 1-year high of $34.56. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $98.25 billion, a price-to-earnings ratio of 17.37, a P/E/G ratio of 1.26 and a beta of 0.38. The company has a 50-day moving average of $30.04 and a 200 day moving average of $30.59.

ICICI Bank (NYSE:IBN) last announced its earnings results on Thursday, January 22nd. The bank reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.03). The business had revenue of $8.53 billion during the quarter, compared to analysts’ expectations of $3.41 billion. ICICI Bank had a net margin of 24.57% and a return on equity of 14.17%. Research analysts anticipate that ICICI Bank will post 1.53 EPS for the current year.

About ICICI Bank

ICICI Bank Limited is an Indian multinational banking and financial services company that provides a broad range of products and services to retail, corporate and institutional customers. The bank traces its origins to the Industrial Credit and Investment Corporation of India, founded in 1955, and was converted into a commercial bank during the 1990s as part of its evolution into a full-service financial institution. It is one of India’s largest private-sector banks and is listed in the United States as an American depositary receipt under the ticker IBN.

The bank’s core activities include retail banking (deposit accounts, consumer loans, mortgages, credit cards and payments), corporate and commercial banking (working capital, term lending, trade finance and cash management), and treasury operations.