ICICI Bank Limited (NYSE:IBN) Short Interest Update

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

Institutional Trading of ICICI Bank

A number of institutional investors have recently bought and sold shares of the company. Healthcare of Ontario Pension Plan Trust Fund boosted its position in ICICI Bank by 25.0% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,666,100 shares of the bank’s stock worth $105,620,000 after purchasing an additional 733,600 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of ICICI Bank during the second quarter valued at $1,534,000. Cetera Investment Advisers boosted its stake in shares of ICICI Bank by 2.0% during the second quarter. Cetera Investment Advisers now owns 77,015 shares of the bank’s stock valued at $2,219,000 after acquiring an additional 1,519 shares during the last quarter. Driehaus Capital Management LLC increased its position in ICICI Bank by 8.4% during the 2nd quarter. Driehaus Capital Management LLC now owns 6,364,221 shares of the bank’s stock worth $183,353,000 after purchasing an additional 490,892 shares in the last quarter. Finally, Susquehanna International Group Ltd. acquired a new position in ICICI Bank in the 2nd quarter valued at about $720,000. 18.18% of the stock is currently owned by hedge funds and other institutional investors.

ICICI Bank Stock Down 2.2 %

ICICI Bank stock opened at $30.60 on Monday. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.99 and a quick ratio of 0.99. ICICI Bank has a 1-year low of $21.89 and a 1-year high of $31.60. The company has a market cap 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’s 50 day moving average price is $29.07 and its 200 day moving average price is $27.79.

ICICI Bank (NYSE:IBN) last posted its earnings results on Saturday, July 27th. The bank reported $0.37 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.03. The company had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.05 billion. ICICI Bank had a return on equity of 16.17% and a net margin of 24.44%. On average, sell-side analysts predict that ICICI Bank will post 1.51 EPS for the current fiscal year.

ICICI Bank Increases Dividend

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

Analysts Set New Price Targets

Separately, StockNews.com upgraded ICICI Bank from a “sell” rating to a “hold” rating in a research note 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.