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

ICICI Bank Limited (NYSE:IBN) was the recipient of 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 trading volume of 5,610,000 shares, the short-interest ratio is currently 5.3 days.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On ICICI Bank

A number of hedge funds have recently bought and sold shares of the stock. Capital International Investors raised its position in 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 in the last quarter. Robeco Institutional Asset Management B.V. raised its position in ICICI Bank by 0.5% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 15,259,276 shares of the bank’s stock valued at $455,489,000 after purchasing an additional 81,104 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in shares of ICICI Bank by 3.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 12,253,715 shares of the bank’s stock valued at $353,065,000 after acquiring an additional 441,155 shares during the last quarter. Hsbc Holdings PLC increased its holdings in shares of ICICI Bank by 16.8% in the 2nd quarter. Hsbc Holdings PLC now owns 8,191,311 shares of the bank’s stock valued at $236,082,000 after acquiring an additional 1,180,981 shares during the last quarter. Finally, Driehaus Capital Management LLC increased its holdings in shares of ICICI Bank by 8.4% in the 2nd quarter. Driehaus Capital Management LLC now owns 6,364,221 shares of the bank’s stock valued at $183,353,000 after acquiring an additional 490,892 shares during the last quarter. Institutional investors and hedge funds own 18.18% of the company’s stock.

ICICI Bank Trading Down 2.8 %

IBN traded down $0.87 during mid-day trading on Thursday, hitting $30.42. 4,730,409 shares of the stock were exchanged, 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 market cap of $107.18 billion, a PE ratio of 20.69, a PEG ratio of 2.17 and a beta of 1.02. The firm’s fifty day moving average is $29.73 and its two-hundred day moving average is $28.37. 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 declared an annual dividend, which was paid on Monday, August 12th. Shareholders of record on Friday, January 1st were given a $0.2028 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a yield of 0.4%. This is a positive change from ICICI Bank’s previous annual dividend of $0.11. ICICI Bank’s dividend payout ratio (DPR) is currently 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.