ICICI Bank (NYSE:IBN) Hits New 1-Year High at $14.91

ICICI Bank Ltd (NYSE:IBN) reached a new 52-week high during trading on Tuesday . The stock traded as high as $14.91 and last traded at $14.91, with a volume of 326884 shares changing hands. The stock had previously closed at $14.76.

Separately, ValuEngine raised ICICI Bank from a “strong sell” rating to a “sell” rating in a research report on Friday, October 25th. One research analyst has rated the stock with a sell rating, two have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company’s stock. ICICI Bank has a consensus rating of “Hold” and an average target price of $12.00.

The company has a current ratio of 1.04, a quick ratio of 1.04 and a debt-to-equity ratio of 1.65. The business has a 50-day moving average price of $13.59 and a 200 day moving average price of $12.29. The stock has a market cap of $47.91 billion, a PE ratio of 99.40 and a beta of 0.80.

ICICI Bank (NYSE:IBN) last issued its quarterly earnings results on Saturday, October 26th. The bank reported $0.03 EPS for the quarter, meeting analysts’ consensus estimates of $0.03. ICICI Bank had a return on equity of 4.21% and a net margin of 6.04%. The firm had revenue of $1.74 billion for the quarter, compared to analysts’ expectations of $1.69 billion. On average, equities analysts predict that ICICI Bank Ltd will post 0.52 earnings per share for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Eagle Asset Management Inc. purchased a new position in shares of ICICI Bank during the 2nd quarter valued at $237,000. DekaBank Deutsche Girozentrale lifted its position in shares of ICICI Bank by 8.1% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 167,412 shares of the bank’s stock valued at $2,109,000 after buying an additional 12,500 shares during the last quarter. Augustine Asset Management Inc. lifted its position in shares of ICICI Bank by 0.7% during the 2nd quarter. Augustine Asset Management Inc. now owns 441,809 shares of the bank’s stock valued at $5,562,000 after buying an additional 3,160 shares during the last quarter. Candriam Luxembourg S.C.A. lifted its position in shares of ICICI Bank by 894.9% during the 2nd quarter. Candriam Luxembourg S.C.A. now owns 167,140 shares of the bank’s stock valued at $2,095,000 after buying an additional 150,340 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC purchased a new position in shares of ICICI Bank during the 2nd quarter valued at $63,000. 20.27% of the stock is currently owned by hedge funds and other institutional investors.

ICICI Bank Company Profile (NYSE:IBN)

ICICI Bank Limited, together with its subsidiaries, provides banking and financial services in India and internationally. It operates through Retail Banking, Wholesale Banking, Treasury, Other Banking, Life Insurance, General Insurance, and Others segments. The company offers savings, salary, pension, current, and other accounts; and fixed, recurring, and security deposits.

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