ICICI Bank Limited (NYSE:IBN) Sees Significant Increase in Short Interest

ICICI Bank Limited (NYSE:IBN) saw a large increase in short interest in October. As of October 15th, there was short interest totalling 29,630,000 shares, an increase of 8.7% from the September 30th total of 27,250,000 shares. Based on an average daily trading volume, of 5,610,000 shares, the days-to-cover ratio is currently 5.3 days.

Analyst Ratings Changes

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

Hedge Funds Weigh In On ICICI Bank

Several large investors have recently modified their holdings of IBN. Healthcare of Ontario Pension Plan Trust Fund lifted its stake in shares of ICICI Bank by 313.6% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,932,500 shares of the bank’s stock valued at $77,447,000 after purchasing an additional 2,223,400 shares during the last quarter. Capital International Investors lifted its stake in shares of ICICI Bank by 11.5% in the 1st quarter. Capital International Investors now owns 20,827,332 shares of the bank’s stock valued at $550,050,000 after purchasing an additional 2,155,477 shares during the last quarter. Marshall Wace LLP lifted its stake in shares of ICICI Bank by 7,273.1% in the 2nd quarter. Marshall Wace LLP now owns 2,130,832 shares of the bank’s stock valued at $61,389,000 after purchasing an additional 2,101,932 shares during the last quarter. Amansa Capital PTE. LTD. lifted its stake in shares of ICICI Bank by 48.9% in the 2nd quarter. Amansa Capital PTE. LTD. now owns 6,092,159 shares of the bank’s stock valued at $175,515,000 after purchasing an additional 2,000,000 shares during the last quarter. Finally, William Blair Investment Management LLC lifted its stake in shares of ICICI Bank by 162.4% in the 2nd quarter. William Blair Investment Management LLC now owns 2,981,105 shares of the bank’s stock valued at $85,889,000 after purchasing an additional 1,845,063 shares during the last quarter. Institutional investors and hedge funds own 18.18% of the company’s stock.

ICICI Bank Trading Down 2.8 %

NYSE:IBN traded down $0.87 during trading hours on Thursday, hitting $30.42. The company had a trading volume of 4,730,409 shares, compared to its average volume of 5,580,284. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.72. The company has a 50-day moving average of $29.73 and a 200 day moving average of $28.37. The company has a market cap of $107.18 billion, a P/E ratio of 20.69, a P/E/G ratio of 2.17 and a beta of 1.02. ICICI Bank has a 1 year low of $22.02 and a 1 year high of $31.60.

ICICI Bank Increases Dividend

The business also recently announced an annual dividend, which was paid on Monday, August 12th. Shareholders of record on Friday, January 1st were issued a $0.2028 dividend. This is a boost from ICICI Bank’s previous annual dividend of $0.11. This represents a yield of 0.4%. The ex-dividend date was Monday, August 12th. ICICI Bank’s dividend payout ratio is presently 13.61%.

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.