StockNews.com upgraded shares of ICICI Bank (NYSE:IBN – Free Report) from a sell rating to a hold rating in a research report sent to investors on Thursday morning.
ICICI Bank Stock Performance
Shares of IBN opened at $28.56 on Thursday. The firm has a market cap of $100.47 billion, a PE ratio of 20.55, a PEG ratio of 2.36 and a beta of 1.03. The stock’s fifty day moving average price is $28.73 and its two-hundred day moving average price is $27.33. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.99 and a quick ratio of 0.99. ICICI Bank has a 1 year low of $21.89 and a 1 year high of $29.72.
ICICI Bank (NYSE:IBN – Get Free Report) last released its quarterly earnings data on Saturday, July 27th. The bank reported $0.37 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $3.05 billion. On average, equities research analysts forecast that ICICI Bank will post 1.51 EPS for the current year.
ICICI Bank Increases Dividend
Institutional Trading of ICICI Bank
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Advisors Asset Management Inc. purchased a new position in ICICI Bank during the first quarter worth about $46,000. ORG Partners LLC purchased a new position in ICICI Bank during the first quarter worth about $54,000. E Fund Management Hong Kong Co. Ltd. purchased a new position in ICICI Bank during the first quarter worth about $58,000. Benjamin F. Edwards & Company Inc. purchased a new position in ICICI Bank during the fourth quarter worth about $74,000. Finally, Whittier Trust Co. of Nevada Inc. purchased a new position in ICICI Bank during the second quarter worth about $102,000. 18.18% of the stock is currently owned by institutional investors.
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.
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