ICICI Bank (NYSE:IBN) Downgraded to “Sell” Rating by StockNews.com

ICICI Bank (NYSE:IBN) was downgraded by stock analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Monday.

ICICI Bank Trading Up 0.6 %

Shares of IBN traded up $0.17 during mid-day trading on Monday, reaching $28.84. The company’s stock had a trading volume of 2,601,180 shares, compared to its average volume of 3,800,580. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.70. ICICI Bank has a 52 week low of $23.54 and a 52 week high of $32.14. The company’s fifty day moving average price is $29.82 and its two-hundred day moving average price is $29.55. The stock has a market cap of $101.80 billion, a PE ratio of 19.10, a P/E/G ratio of 1.53 and a beta of 0.99.

ICICI Bank (NYSE:IBN) last issued its quarterly earnings data on Saturday, January 25th. The bank reported $0.39 EPS for the quarter, topping the consensus estimate of $0.36 by $0.03. ICICI Bank had a net margin of 24.40% and a return on equity of 15.61%. On average, analysts predict that ICICI Bank will post 1.54 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ICICI Bank

Several hedge funds have recently bought and sold shares of the business. Vontobel Holding Ltd. grew its position in shares of ICICI Bank by 7,250.2% in the fourth quarter. Vontobel Holding Ltd. now owns 3,687,868 shares of the bank’s stock valued at $110,120,000 after purchasing an additional 3,637,694 shares during the period. JPMorgan Chase & Co. lifted its stake in ICICI Bank by 19.2% in the third quarter. JPMorgan Chase & Co. now owns 18,269,477 shares of the bank’s stock worth $545,344,000 after acquiring an additional 2,947,508 shares during the last quarter. National Bank of Canada FI grew its stake in ICICI Bank by 122.6% during the 3rd quarter. National Bank of Canada FI now owns 5,168,100 shares of the bank’s stock worth $154,268,000 after buying an additional 2,846,325 shares during the last quarter. BNP Paribas Financial Markets grew its position in ICICI Bank by 101.6% in the 3rd quarter. BNP Paribas Financial Markets now owns 4,633,232 shares of the bank’s stock valued at $138,302,000 after buying an additional 2,334,887 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of ICICI Bank by 50.1% during the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 5,502,500 shares of the bank’s stock worth $164,250,000 after purchasing an additional 1,836,400 shares in the last quarter. Institutional investors own 18.18% of the company’s stock.

About ICICI Bank

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.