ICICI Bank (NYSE:IBN) Stock Price Up 2.3% – Here’s What Happened

ICICI Bank Limited (NYSE:IBN)’s share price rose 2.3% during trading on Friday . The stock traded as high as $31.39 and last traded at $31.34. Approximately 665,521 shares traded hands during trading, a decline of 86% from the average daily volume of 4,637,450 shares. The stock had previously closed at $30.64.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of ICICI Bank from a “sell” rating to a “hold” rating in a report on Wednesday.

ICICI Bank Price Performance

The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.70. The company has a market cap of $110.73 billion, a P/E ratio of 20.78, a PEG ratio of 1.53 and a beta of 1.01. The business’s fifty day moving average is $28.62 and its 200 day moving average is $29.60.

ICICI Bank (NYSE:IBN) last posted its quarterly earnings results on Saturday, January 25th. The bank reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.03. ICICI Bank had a net margin of 24.40% and a return on equity of 15.61%. As a group, sell-side analysts anticipate that ICICI Bank Limited will post 1.53 EPS for the current year.

Institutional Investors Weigh In On ICICI Bank

A number of hedge funds have recently modified their holdings of IBN. Kestra Investment Management LLC bought a new stake in ICICI Bank during the 4th quarter valued at $29,000. BOCHK Asset Management Ltd bought a new stake in ICICI Bank during the 4th quarter valued at $42,000. Hobbs Group Advisors LLC bought a new stake in ICICI Bank during the 3rd quarter valued at $54,000. Murphy & Mullick Capital Management Corp bought a new stake in ICICI Bank during the 4th quarter valued at $76,000. Finally, Ameliora Wealth Management Ltd. bought a new stake in ICICI Bank during the 4th quarter valued at $82,000. 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.