ICICI Bank Sees Unusually Large Options Volume (NYSE:IBN)

ICICI Bank Limited (NYSE:IBN) was the recipient of unusually large options trading activity on Thursday. Investors purchased 7,776 call options on the company. This is an increase of 151% compared to the average volume of 3,103 call options.

ICICI Bank Trading Up 4.6 %

Shares of NYSE:IBN traded up $1.48 during trading on Thursday, reaching $33.45. 4,476,970 shares of the company traded hands, compared to its average volume of 4,953,489. 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 business’s fifty day moving average is $29.75 and its 200-day moving average is $29.76. The firm has a market capitalization of $118.15 billion, a price-to-earnings ratio of 22.13, a P/E/G ratio of 1.53 and a beta of 0.65. ICICI Bank has a 52-week low of $25.13 and a 52-week high of $33.51.

ICICI Bank (NYSE:IBN) last issued its quarterly earnings results on Saturday, January 25th. The bank reported $0.39 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.03. ICICI Bank had a return on equity of 15.61% and a net margin of 24.40%. As a group, analysts forecast that ICICI Bank will post 1.53 EPS for the current year.

Analysts Set New Price Targets

Separately, StockNews.com upgraded shares of ICICI Bank from a “sell” rating to a “hold” rating in a report on Wednesday, March 19th.

Institutional Investors Weigh In On ICICI Bank

A number of institutional investors and hedge funds have recently bought and sold shares of the business. HB Wealth Management LLC lifted its position in shares of ICICI Bank by 13.2% in the fourth quarter. HB Wealth Management LLC now owns 7,876 shares of the bank’s stock worth $235,000 after buying an additional 917 shares in the last quarter. Inspire Investing LLC increased its stake in shares of ICICI Bank by 10.4% in the fourth quarter. Inspire Investing LLC now owns 34,656 shares of the bank’s stock worth $1,035,000 after acquiring an additional 3,269 shares during the period. Atomi Financial Group Inc. increased its position in shares of ICICI Bank by 20.9% during the fourth quarter. Atomi Financial Group Inc. now owns 40,535 shares of the bank’s stock worth $1,210,000 after purchasing an additional 6,998 shares in the last quarter. Perpetual Ltd lifted its stake in shares of ICICI Bank by 2.1% in the fourth quarter. Perpetual Ltd now owns 1,222,207 shares of the bank’s stock worth $36,495,000 after buying an additional 25,521 shares in the last quarter. Finally, Park Avenue Securities LLC boosted its position in ICICI Bank by 19.1% during the fourth quarter. Park Avenue Securities LLC now owns 48,561 shares of the bank’s stock worth $1,450,000 after acquiring an additional 7,791 shares during the last quarter. 18.18% of the stock is owned by institutional investors.

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.