ICICI Bank Limited (NYSE:IBN) Short Interest Update

ICICI Bank Limited (NYSE:IBN) was the target of a large decline in short interest in February. As of February 27th, there was short interest totaling 28,002,654 shares, a decline of 13.5% from the February 12th total of 32,386,973 shares. Currently, 0.8% of the company’s stock are short sold. Based on an average daily volume of 3,807,252 shares, the short-interest ratio is currently 7.4 days. Based on an average daily volume of 3,807,252 shares, the short-interest ratio is currently 7.4 days. Currently, 0.8% of the company’s stock are short sold.

Institutional Investors Weigh In On ICICI Bank

Large investors have recently bought and sold shares of the company. Morgan Stanley grew its holdings in ICICI Bank by 8.0% in the fourth quarter. Morgan Stanley now owns 53,772,858 shares of the bank’s stock valued at $1,602,431,000 after purchasing an additional 3,974,437 shares during the period. Temasek Holdings Private Ltd raised its position in ICICI Bank by 11.3% during the fourth quarter. Temasek Holdings Private Ltd now owns 29,195,789 shares of the bank’s stock worth $870,035,000 after acquiring an additional 2,964,312 shares during the period. Invesco Ltd. lifted its holdings in ICICI Bank by 4.1% during the third quarter. Invesco Ltd. now owns 23,407,285 shares of the bank’s stock valued at $707,602,000 after purchasing an additional 928,329 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its position in shares of ICICI Bank by 9.2% in the third quarter. Robeco Institutional Asset Management B.V. now owns 18,972,921 shares of the bank’s stock valued at $573,551,000 after purchasing an additional 1,602,152 shares during the period. Finally, Dimensional Fund Advisors LP raised its position in shares of ICICI Bank by 1.2% during the 4th quarter. Dimensional Fund Advisors LP now owns 11,733,336 shares of the bank’s stock worth $349,660,000 after purchasing an additional 135,945 shares during the last quarter. Hedge funds and other institutional investors own 18.18% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on IBN shares. Wall Street Zen lowered shares of ICICI Bank from a “hold” rating to a “sell” rating in a research note on Saturday, December 27th. Weiss Ratings lowered shares of ICICI Bank from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, February 18th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock currently has an average rating of “Hold”.

ICICI Bank Stock Up 0.3%

NYSE:IBN traded up $0.09 during mid-day trading on Tuesday, hitting $27.46. 2,829,800 shares of the company’s stock traded hands, compared to its average volume of 6,646,935. The company has a fifty day moving average of $30.04 and a 200 day moving average of $30.59. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.02 and a current ratio of 1.02. ICICI Bank has a twelve month low of $26.58 and a twelve month high of $34.56. The company has a market capitalization of $98.25 billion, a P/E ratio of 17.37, a P/E/G ratio of 1.26 and a beta of 0.38.

ICICI Bank (NYSE:IBN) last posted its quarterly earnings data on Thursday, January 22nd. The bank reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.03). The company had revenue of $8.53 billion for the quarter, compared to analyst estimates of $3.41 billion. ICICI Bank had a net margin of 24.57% and a return on equity of 14.17%. On average, analysts forecast that ICICI Bank will post 1.53 EPS for the current year.

ICICI Bank Company Profile

ICICI Bank Limited is an Indian multinational banking and financial services company that provides a broad range of products and services to retail, corporate and institutional customers. The bank traces its origins to the Industrial Credit and Investment Corporation of India, founded in 1955, and was converted into a commercial bank during the 1990s as part of its evolution into a full-service financial institution. It is one of India’s largest private-sector banks and is listed in the United States as an American depositary receipt under the ticker IBN.

The bank’s core activities include retail banking (deposit accounts, consumer loans, mortgages, credit cards and payments), corporate and commercial banking (working capital, term lending, trade finance and cash management), and treasury operations.