Short Interest in ICICI Bank Limited (NYSE:IBN) Grows By 8.0%

ICICI Bank Limited (NYSE:IBN) saw a large 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 volume of 5,210,000 shares, the short-interest ratio is presently 5.4 days.

Hedge Funds Weigh In On ICICI Bank

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IBN. Continuum Advisory LLC lifted its stake in shares of ICICI Bank by 21.8% during the 4th quarter. Continuum Advisory LLC now owns 83,942 shares of the bank’s stock worth $2,001,000 after buying an additional 15,041 shares during the last quarter. Bridgefront Capital LLC bought a new stake in shares of ICICI Bank in the fourth quarter valued at about $630,000. K.J. Harrison & Partners Inc grew its position in shares of ICICI Bank by 88.5% during the 1st quarter. K.J. Harrison & Partners Inc now owns 21,300 shares of the bank’s stock worth $563,000 after purchasing an additional 10,000 shares in the last quarter. UMB Bank n.a. increased its stake in ICICI Bank by 170.3% during the 1st quarter. UMB Bank n.a. now owns 7,013 shares of the bank’s stock worth $185,000 after acquiring an additional 4,418 shares during the period. Finally, Garner Asset Management Corp acquired a new position in ICICI Bank in the fourth quarter valued at about $108,000. 18.18% of the stock is owned by institutional investors.

ICICI Bank Stock Up 0.1 %

Shares of IBN stock opened at $29.87 on Wednesday. ICICI Bank has a 52-week low of $21.89 and a 52-week high of $31.60. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.99 and a current ratio of 0.99. The stock has a market cap of $105.08 billion, a price-to-earnings ratio of 21.49, a PEG ratio of 2.53 and a beta of 1.03. The firm’s 50-day moving average is $29.09 and its 200-day moving average is $27.84.

ICICI Bank (NYSE:IBN) last released its quarterly earnings data on Saturday, July 27th. The bank reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.03. ICICI Bank had a return on equity of 16.17% and a net margin of 24.44%. The firm had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.05 billion. Sell-side analysts predict that ICICI Bank will post 1.51 EPS for the current year.

ICICI Bank Increases Dividend

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

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of ICICI Bank from a “sell” rating to a “hold” rating in a research report 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.