Traditional finance theories such as Capital Asset Pricing Model, Efficient MarketrnHypothesis and Modern portfolio theories presumes that markets are efficient, peoplernmake rational decisions to maximize profits. But recent studies on individual investorsâ€™rnbehavior have shown that people do not act in a rational manner, rather several factorsrninfluence their investment decisions in the stock market. This paper aims at identifyingrnthe factors influencing the individuals investors' behavior in Ethiopian private commercialrnbanks. A sample of 252 investors has been selected as sample size by simple randomrnsampling technique. Self completion questionnaire is employed to collect the data. Torntest the model and reliability of the data the author has used Cronbach's alpha test,rnfactor loadings, KMO, total variance explained and Eigen value. In this study,rnexploratory factor analysis is used to find out the determinants of individual investmentrnbehavior. The present study has identified five major factors that can influencesrnindividual investorâ€™s investment decision in Ethiopian private commercial banks. They arernHeuristic: representativeness-overconfidence and availability bias, Prospect: loss aversionrnand regret aversion, Market factors: past trends of stocks, market information, pricernchanges of stocks and customers' preferences ,andrnHerd factors: buying and sellingrndecision of others, amount of stocks bought by others and speed of herding . All thernbehavioral variables have a moderate impact on investment decision of individualrninvestors in EPCB. The Pearson's correlation coefficient analysis was used to examine thernsignificant relationship of behavioral factors and investment decision, the result revealedrnthat most of behavioral variables have positive and significant relationship to investmentrndecision