ICICI Bank (NYSE:IBN) Director Sells $1,344,600.00 in Stock

ICICI Bank Limited (NYSE:IBN) Director Rakesh Jha sold 90,000 shares of the business’s stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $14.94, for a total transaction of $1,344,600.00. Following the transaction, the director directly owned 140,750 shares in the company, valued at approximately $2,102,805. The trade was a 39.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

Rakesh Jha also recently made the following trade(s):

• On Thursday, April 23rd, Rakesh Jha sold 45,000 shares of ICICI Bank stock. The shares were sold at an average price of $14.49, for a total transaction of $652,050.00.

ICICI Bank Trading Down 1.3%

ICICI Bank stock traded down $0.36 during mid-day trading on Friday, reaching $27.70. 3,804,991 shares of the company traded hands, compared to its average volume of 6,760,740. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 1.02. The firm’s 50 day moving average price is $28.09 and its 200 day moving average price is $29.72. The firm has a market capitalization of $99.16 billion, a price-to-earnings ratio of 17.53, a P/E/G ratio of 1.44 and a beta of 0.47. ICICI Bank Limited has a 52-week low of $25.08 and a 52-week high of $34.56.

Institutional Trading of ICICI Bank

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Carmel Capital Management L.L.C. purchased a new stake in shares of ICICI Bank in the 1st quarter worth about $5,465,000. Klein Pavlis & Peasley Financial Inc. grew its position in ICICI Bank by 7.4% during the 1st quarter. Klein Pavlis & Peasley Financial Inc. now owns 132,985 shares of the bank’s stock valued at $3,444,000 after purchasing an additional 9,158 shares during the last quarter. Continuum Advisory LLC grew its position in ICICI Bank by 30.4% during the 1st quarter. Continuum Advisory LLC now owns 89,282 shares of the bank’s stock valued at $2,312,000 after purchasing an additional 20,808 shares during the last quarter. Janney Montgomery Scott LLC grew its position in ICICI Bank by 21.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 33,856 shares of the bank’s stock valued at $877,000 after purchasing an additional 6,012 shares during the last quarter. Finally, Border to Coast Pensions Partnership Ltd grew its position in ICICI Bank by 12.5% during the 1st quarter. Border to Coast Pensions Partnership Ltd now owns 877,715 shares of the bank’s stock valued at $22,802,000 after purchasing an additional 97,538 shares during the last quarter. 18.18% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on IBN shares. Wall Street Zen downgraded shares of ICICI Bank from a “sell” rating to a “strong sell” rating in a research report on Saturday, April 11th. Zacks Research downgraded shares of ICICI Bank from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 15th. Finally, Weiss Ratings downgraded shares of ICICI Bank from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, February 18th. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, ICICI Bank currently has an average rating of “Reduce”.

About ICICI Bank

ICICI Bank Limited is an Indian multinational banking and financial services company that provides a broad range of products and services to retail, corporate and institutional customers. The bank traces its origins to the Industrial Credit and Investment Corporation of India, founded in 1955, and was converted into a commercial bank during the 1990s as part of its evolution into a full-service financial institution. It is one of India’s largest private-sector banks and is listed in the United States as an American depositary receipt under the ticker IBN.

The bank’s core activities include retail banking (deposit accounts, consumer loans, mortgages, credit cards and payments), corporate and commercial banking (working capital, term lending, trade finance and cash management), and treasury operations.