ICICI Bank Limited (NYSE:IBN) Short Interest Update

ICICI Bank Limited (NYSE:IBN) was the target of a large growth in short interest during the month of September. As of September 15th, there was short interest totalling 28,000,000 shares, a growth of 8.0% from the August 31st total of 25,930,000 shares. Based on an average trading volume of 5,210,000 shares, the days-to-cover ratio is currently 5.4 days.

ICICI Bank Stock Down 2.2 %

Shares of IBN opened at $30.60 on Monday. ICICI Bank has a 52-week low of $21.89 and a 52-week high of $31.60. The company has a market capitalization of $107.65 billion, a PE ratio of 22.01, a price-to-earnings-growth ratio of 2.53 and a beta of 1.03. The stock has a fifty day simple moving average of $29.07 and a two-hundred day simple moving average of $27.79. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.72.

ICICI Bank (NYSE:IBN) last released its quarterly earnings results on Saturday, July 27th. The bank reported $0.37 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.03. The business had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.05 billion. ICICI Bank had a return on equity of 16.17% and a net margin of 24.44%. As a group, equities analysts forecast that ICICI Bank will post 1.51 EPS for the current year.

ICICI Bank Increases Dividend

The company also recently announced an annual dividend, which was paid on Monday, August 12th. Investors of record on Friday, January 1st were issued a dividend of $0.2028 per share. This represents a yield of 0.4%. This is a boost from ICICI Bank’s previous annual dividend of $0.11. The ex-dividend date was Monday, August 12th. ICICI Bank’s dividend payout ratio (DPR) is 14.39%.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On ICICI Bank

A number of hedge funds and other institutional investors have recently bought and sold shares of IBN. Healthcare of Ontario Pension Plan Trust Fund boosted 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 buying an additional 2,223,400 shares during the period. Capital International Investors raised its position in shares of ICICI Bank by 11.5% during the 1st quarter. Capital International Investors now owns 20,827,332 shares of the bank’s stock worth $550,050,000 after acquiring an additional 2,155,477 shares in the last quarter. Marshall Wace LLP raised its position in shares of ICICI Bank by 7,273.1% during the 2nd quarter. Marshall Wace LLP now owns 2,130,832 shares of the bank’s stock worth $61,389,000 after acquiring an additional 2,101,932 shares in the last quarter. Amansa Capital PTE. LTD. raised its position in shares of ICICI Bank by 48.9% during the 2nd quarter. Amansa Capital PTE. LTD. now owns 6,092,159 shares of the bank’s stock worth $175,515,000 after acquiring an additional 2,000,000 shares in the last quarter. Finally, William Blair Investment Management LLC raised its position in shares of ICICI Bank by 162.4% during the 2nd quarter. William Blair Investment Management LLC now owns 2,981,105 shares of the bank’s stock worth $85,889,000 after acquiring an additional 1,845,063 shares in the last quarter. 18.18% of the stock is currently owned by hedge funds and other institutional investors.

ICICI Bank Company Profile

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.