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

ICICI Bank Limited (NYSE:IBN) saw a significant decrease in short interest in December. As of December 31st, there was short interest totalling 24,230,000 shares, a decrease of 6.4% from the December 15th total of 25,890,000 shares. Based on an average daily volume of 4,420,000 shares, the days-to-cover ratio is presently 5.5 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the company. Asset Dedication LLC boosted its position in shares of ICICI Bank by 620.0% in the 3rd quarter. Asset Dedication LLC now owns 1,008 shares of the bank’s stock worth $30,000 after purchasing an additional 868 shares in the last quarter. ORG Wealth Partners LLC purchased a new stake in ICICI Bank in the third quarter valued at about $50,000. Tsfg LLC acquired a new stake in ICICI Bank in the third quarter worth about $53,000. Hobbs Group Advisors LLC purchased a new stake in shares of ICICI Bank during the third quarter worth about $54,000. Finally, JFS Wealth Advisors LLC increased its holdings in shares of ICICI Bank by 22.4% during the third quarter. JFS Wealth Advisors LLC now owns 2,875 shares of the bank’s stock valued at $86,000 after acquiring an additional 526 shares in the last quarter. Hedge funds and other institutional investors own 18.18% of the company’s stock.

ICICI Bank Stock Down 2.3 %

NYSE:IBN traded down $0.66 during mid-day trading on Friday, reaching $28.15. The company’s stock had a trading volume of 3,820,246 shares, compared to its average volume of 2,501,369. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.74. ICICI Bank has a 1 year low of $23.32 and a 1 year high of $32.14. The stock has a fifty day moving average of $30.15 and a 200-day moving average of $29.62. The firm has a market capitalization of $99.33 billion, a PE ratio of 19.15, a price-to-earnings-growth ratio of 1.71 and a beta of 0.99.

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.