ICICI Bank (NYSE:IBN) Shares Pass Above 200-Day Moving Average – Should You Sell?

Shares of ICICI Bank Limited (NYSE:IBN) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $29.75 and traded as high as $31.99. ICICI Bank shares last traded at $31.87, with a volume of 5,807,327 shares trading hands.

Analyst Ratings Changes

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

ICICI Bank Stock Up 4.1 %

The stock has a market cap of $117.55 billion, a P/E ratio of 22.04, a price-to-earnings-growth ratio of 1.53 and a beta of 0.65. The stock’s 50-day moving average is $29.75 and its 200-day moving average is $29.76. 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 (NYSE:IBN) last announced its earnings results 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 return on equity of 15.61% and a net margin of 24.40%. As a group, research analysts anticipate that ICICI Bank Limited will post 1.53 earnings per share for the current fiscal year.

Institutional Trading of ICICI Bank

A number of hedge funds and other institutional investors have recently made changes to their positions in IBN. White Oak Capital Partners Pte. Ltd. acquired a new position in ICICI Bank in the fourth quarter worth approximately $155,148,000. GQG Partners LLC raised its position in shares of ICICI Bank by 7.7% during the fourth quarter. GQG Partners LLC now owns 64,185,627 shares of the bank’s stock worth $1,916,583,000 after purchasing an additional 4,573,778 shares during the period. Vontobel Holding Ltd. lifted its holdings in shares of ICICI Bank by 7,250.2% during 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 last quarter. FIL Ltd boosted its position in shares of ICICI Bank by 18.8% in the 4th quarter. FIL Ltd now owns 19,442,017 shares of the bank’s stock valued at $580,539,000 after purchasing an additional 3,071,174 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in ICICI Bank by 19.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 18,269,477 shares of the bank’s stock worth $545,344,000 after purchasing an additional 2,947,508 shares in the last quarter. 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.