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

ICICI Bank Limited (NYSE:IBN) was the target of a significant decline in short interest in December. As of December 31st, there was short interest totalling 24,230,000 shares, a decline 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 currently 5.5 days.

Institutional Inflows and Outflows

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

ICICI Bank Price Performance

Shares of NYSE:IBN traded down $0.66 during trading on Friday, hitting $28.15. 3,820,246 shares of the company’s stock were exchanged, compared to its average volume of 2,501,369. The business’s 50-day simple moving average is $30.15 and its 200 day simple moving average is $29.62. The company has a market cap of $99.33 billion, a price-to-earnings ratio of 19.15, a PEG ratio of 1.71 and a beta of 0.99. ICICI Bank has a 52-week low of $23.32 and a 52-week high of $32.14. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.00 and a quick ratio of 1.00.

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.