ICICI Bank Limited (NYSE:IBN) Short Interest Up 8.0% in September

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.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of ICICI Bank from a “sell” rating to a “hold” rating in a research note on Thursday, September 5th.

ICICI Bank Price Performance

Shares of IBN opened at $29.87 on Wednesday. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.72. The stock has a market cap of $105.08 billion, a PE ratio of 21.49, a PEG ratio of 2.53 and a beta of 1.03. ICICI Bank has a 12-month low of $21.89 and a 12-month high of $31.60. The business has a 50-day simple moving average of $29.09 and a two-hundred day simple moving average of $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 company had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.05 billion. Analysts anticipate that ICICI Bank will post 1.51 earnings per share for the current fiscal year.

ICICI Bank Increases Dividend

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

Institutional Trading of ICICI Bank

Institutional investors have recently modified their holdings of the business. Healthcare of Ontario Pension Plan Trust Fund raised its position in shares of ICICI Bank by 25.0% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 3,666,100 shares of the bank’s stock worth $105,620,000 after acquiring an additional 733,600 shares during the last quarter. Sanctuary Advisors LLC bought a new position in ICICI Bank during the 2nd quarter worth approximately $1,534,000. Cetera Investment Advisers lifted its position in shares of ICICI Bank by 2.0% in the 2nd quarter. Cetera Investment Advisers now owns 77,015 shares of the bank’s stock worth $2,219,000 after purchasing an additional 1,519 shares during the period. Driehaus Capital Management LLC boosted its stake in shares of ICICI Bank by 8.4% in the 2nd quarter. Driehaus Capital Management LLC now owns 6,364,221 shares of the bank’s stock valued at $183,353,000 after purchasing an additional 490,892 shares during the last quarter. Finally, Susquehanna International Group Ltd. acquired a new stake in shares of ICICI Bank during the second quarter worth $720,000. Institutional investors own 18.18% of the company’s stock.

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.