Erste Group Bank Lowers Earnings Estimates for ICICI Bank

ICICI Bank Limited (NYSE:IBN) – Stock analysts at Erste Group Bank lowered their FY2027 earnings per share (EPS) estimates for ICICI Bank in a research note issued to investors on Thursday, October 8th. Erste Group Bank analyst S. Lingnau now anticipates that the bank will post earnings per share of $1.67 for the year, down from their previous estimate of $1.71. The consensus estimate for ICICI Bank’s current full-year earnings is $1.65 per share. Erste Group Bank also issued estimates for ICICI Bank’s FY2028 earnings at $1.94 EPS.

A number of other equities research analysts also recently commented on IBN. The Goldman Sachs Group assumed coverage on shares of ICICI Bank in a research report on Friday, August 21st. They issued a “buy” rating on the stock. Sanford C. Bernstein raised ICICI Bank from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 21st. Wall Street Zen raised ICICI Bank from a “sell” rating to a “hold” rating in a research report on Saturday, August 29th. Finally, Zacks Research upgraded ICICI Bank from a “strong sell” rating to a “hold” rating in a report on Monday, July 6th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat, ICICI Bank has a consensus rating of “Moderate Buy”.

ICICI Bank Price Performance

IBN stock opened at $28.52 on Wednesday. The business’s 50-day moving average is $29.05 and its two-hundred day moving average is $28.16. The company has a debt-to-equity ratio of 0.57, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a market capitalization of $102.38 billion, a P/E ratio of 17.75, a P/E/G ratio of 1.29 and a beta of 0.41. ICICI Bank has a 1 year low of $25.08 and a 1 year high of $33.03.

ICICI Bank (NYSE:IBN) last released its earnings results on Sunday, July 19th. The bank reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.40 by $0.03. ICICI Bank had a return on equity of 13.81% and a net margin of 25.60%. The firm had revenue of $5.97 billion during the quarter, compared to analyst estimates of $3.32 billion.

Institutional Investors Weigh In On ICICI Bank

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Bank of America Corp DE boosted its holdings in ICICI Bank by 43.0% in the 1st quarter. Bank of America Corp DE now owns 12,932,141 shares of the bank’s stock valued at $334,942,000 after purchasing an additional 3,889,449 shares in the last quarter. Temasek Holdings Private Ltd raised its stake in shares of ICICI Bank by 11.3% during the 4th quarter. Temasek Holdings Private Ltd now owns 29,195,789 shares of the bank’s stock worth $870,035,000 after buying an additional 2,964,312 shares in the last quarter. Man Group plc lifted its holdings in shares of ICICI Bank by 34.6% in the 4th quarter. Man Group plc now owns 9,070,256 shares of the bank’s stock valued at $270,294,000 after buying an additional 2,331,490 shares during the period. SG Americas Securities LLC lifted its holdings in shares of ICICI Bank by 202.7% in the 1st quarter. SG Americas Securities LLC now owns 2,662,894 shares of the bank’s stock valued at $68,969,000 after buying an additional 1,783,105 shares during the period. Finally, BSN CAPITAL PARTNERS Ltd acquired a new position in ICICI Bank during the fourth quarter worth $34,845,000. 18.18% of the stock is currently owned by institutional investors and hedge funds.

ICICI Bank Company Profile

ICICI Bank Limited is a private-sector banking and financial services company headquartered in Mumbai, India. The bank provides a broad range of services to retail customers, businesses, institutions and government entities, including savings and current accounts, deposits, personal and business loans, mortgages, credit cards, payments, investment services and wealth management.

Through its corporate and institutional banking operations, ICICI Bank offers working-capital finance, term lending, trade finance, cash-management services, foreign-exchange services, capital-market solutions and other banking products.