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

ICICI Bank Limited (NYSE:IBN) was the target of a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 32,590,000 shares, an increase of 10.0% from the October 15th total of 29,630,000 shares. Based on an average daily trading volume, of 5,470,000 shares, the days-to-cover ratio is currently 6.0 days.

ICICI Bank Stock Up 1.0 %

Shares of IBN traded up $0.29 during mid-day trading on Monday, hitting $29.75. 5,003,150 shares of the company traded hands, 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 quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.74. The company has a market capitalization of $104.84 billion, a PE ratio of 20.24, a price-to-earnings-growth ratio of 1.97 and a beta of 1.02. The business has a 50 day moving average of $29.97 and a 200 day moving average of $28.71.

Institutional Trading of ICICI Bank

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Hobbs Group Advisors LLC acquired a new position in ICICI Bank in the 3rd quarter valued at about $54,000. TT International Asset Management LTD grew its holdings in ICICI Bank by 36.0% during the third quarter. TT International Asset Management LTD now owns 171,892 shares of the bank’s stock worth $5,130,000 after acquiring an additional 45,524 shares during the period. Coldstream Capital Management Inc. grew its holdings in ICICI Bank by 3.9% during the third quarter. Coldstream Capital Management Inc. now owns 27,855 shares of the bank’s stock worth $831,000 after acquiring an additional 1,042 shares during the period. Barclays PLC grew its holdings in ICICI Bank by 26.7% during the third quarter. Barclays PLC now owns 593,717 shares of the bank’s stock worth $17,722,000 after acquiring an additional 125,141 shares during the period. Finally, Continuum Advisory LLC boosted its position in ICICI Bank by 0.6% during the third quarter. Continuum Advisory LLC now owns 71,856 shares of the bank’s stock worth $2,129,000 after purchasing an additional 404 shares in the last quarter. 18.18% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

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.