ICICI Bank Ltd. (NYSE:IBN) was the target of a significant decline in short interest in the month of October. As of October 31st, there was short interest totalling 10,654,104 shares, a decline of 22.1% from the October 14th total of 13,669,707 shares. Based on an average trading volume of 17,067,905 shares, the days-to-cover ratio is presently 0.6 days.

Several hedge funds and other institutional investors have recently modified their holdings of IBN. Capital Research Global Investors raised its position in shares of ICICI Bank by 0.3% in the third quarter. Capital Research Global Investors now owns 402,970 shares of the company’s stock valued at $3,010,000 after buying an additional 1,170 shares during the period. Scotia Capital Inc. raised its position in shares of ICICI Bank by 0.9% in the second quarter. Scotia Capital Inc. now owns 128,000 shares of the company’s stock valued at $919,000 after buying an additional 1,192 shares during the period. Neuberger Berman Group LLC raised its position in shares of ICICI Bank by 8.3% in the second quarter. Neuberger Berman Group LLC now owns 18,619 shares of the company’s stock valued at $134,000 after buying an additional 1,419 shares during the period. Lord Abbett & CO. LLC raised its position in shares of ICICI Bank by 5.1% in the second quarter. Lord Abbett & CO. LLC now owns 30,568 shares of the company’s stock valued at $220,000 after buying an additional 1,496 shares during the period. Finally, Rockefeller Financial Services Inc. raised its position in shares of ICICI Bank by 2.8% in the second quarter. Rockefeller Financial Services Inc. now owns 72,580 shares of the company’s stock valued at $521,000 after buying an additional 1,952 shares during the period. 22.50% of the stock is currently owned by institutional investors.

ICICI Bank (NYSE:IBN) opened at 7.78 on Wednesday. ICICI Bank has a 1-year low of $5.15 and a 1-year high of $8.80. The firm has a market cap of $22.62 billion, a price-to-earnings ratio of 15.20 and a beta of 2.13. The firm has a 50-day moving average of $8.00 and a 200 day moving average of $7.59.

Separately, Goldman Sachs Group Inc. upgraded shares of ICICI Bank from a “neutral” rating to a “buy” rating in a report on Monday, October 24th.

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ICICI Bank Company Profile

ICICI Bank Limited is a banking company. The Bank is a financial services group providing a range of banking and financial services including commercial banking, retail banking, project and corporate finance, working capital finance, insurance, venture capital and private equity, investment banking, broking and treasury products and services.

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