ICICI Bank Limited (NYSE:IBN) Sees Large Drop in Short Interest

ICICI Bank Limited (NYSE:IBN - Get Free Report) was the recipient of a large decline in short interest in January. As of January 31st, there was short interest totalling 22,430,000 shares, a decline of 9.8% from the January 15th total of 24,860,000 shares. Based on an average daily trading volume, of 3,990,000 shares, the short-interest ratio is currently 5.6 days.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. abrdn plc raised its holdings in shares of ICICI Bank by 43.5% during the 3rd quarter. abrdn plc now owns 115,477 shares of the bank's stock worth $3,451,000 after acquiring an additional 34,984 shares in the last quarter. US Bancorp DE raised its holdings in shares of ICICI Bank by 7.2% during the 3rd quarter. US Bancorp DE now owns 510,212 shares of the bank's stock worth $15,230,000 after acquiring an additional 34,159 shares in the last quarter. BSW Wealth Partners raised its holdings in shares of ICICI Bank by 3.4% during the 3rd quarter. BSW Wealth Partners now owns 27,363 shares of the bank's stock worth $817,000 after acquiring an additional 896 shares in the last quarter. Americana Partners LLC raised its holdings in shares of ICICI Bank by 5.3% during the 3rd quarter. Americana Partners LLC now owns 11,546 shares of the bank's stock worth $345,000 after acquiring an additional 584 shares in the last quarter. Finally, JFS Wealth Advisors LLC raised its holdings in shares of ICICI Bank by 22.4% during the 3rd quarter. JFS Wealth Advisors LLC now owns 2,875 shares of the bank's stock worth $86,000 after acquiring an additional 526 shares in the last quarter. 18.18% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Separately, StockNews.com cut ICICI Bank from a "hold" rating to a "sell" rating in a research report on Monday, February 3rd.

ICICI Bank Stock Performance

Shares of IBN stock traded down $0.43 during trading hours on Friday, reaching $28.18. 3,166,892 shares of the company traded hands, compared to its average volume of 3,959,311. ICICI Bank has a 12-month low of $25.13 and a 12-month high of $32.14. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market cap of $99.48 billion, a P/E ratio of 18.66, a P/E/G ratio of 1.55 and a beta of 0.98. The firm has a 50-day moving average price of $29.16 and a 200 day moving average price of $29.54.

ICICI Bank (NYSE:IBN - Get Free Report) last posted its quarterly earnings results on Saturday, January 25th. The bank reported $0.39 EPS for the quarter, topping analysts' consensus estimates of $0.36 by $0.03. ICICI Bank had a return on equity of 15.61% and a net margin of 24.40%. As a group, sell-side analysts predict that ICICI Bank will post 1.53 earnings per share for the current fiscal year.

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.