StockNews.com lowered shares of ICICI Bank (NYSE:IBN - Free Report) from a hold rating to a sell rating in a research note published on Monday morning.
ICICI Bank Stock Performance
Shares of IBN stock traded down $0.65 during trading on Monday, reaching $28.41. 4,156,049 shares of the company's stock were exchanged, compared to its average volume of 3,786,260. The firm's fifty day moving average price is $29.67 and its 200-day moving average price is $29.54. ICICI Bank has a twelve month low of $23.54 and a twelve month high of $32.14. The stock has a market capitalization of $100.29 billion, a PE ratio of 18.82, a PEG ratio of 1.53 and a beta of 0.98. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.70.
ICICI Bank (NYSE:IBN - Get Free Report) last issued its quarterly earnings data 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 net margin of 24.40% and a return on equity of 15.61%. As a group, sell-side analysts anticipate that ICICI Bank will post 1.54 EPS for the current year.
Hedge Funds Weigh In On ICICI Bank
Institutional investors and hedge funds have recently made changes to their positions in the company. Vontobel Holding Ltd. increased 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 worth $110,120,000 after purchasing an additional 3,637,694 shares during the period. JPMorgan Chase & Co. raised its holdings in ICICI Bank by 19.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 18,269,477 shares of the bank's stock valued at $545,344,000 after acquiring an additional 2,947,508 shares in the last quarter. National Bank of Canada FI lifted its position in shares of ICICI Bank by 122.6% during the 3rd quarter. National Bank of Canada FI now owns 5,168,100 shares of the bank's stock valued at $154,268,000 after acquiring an additional 2,846,325 shares during the period. BNP Paribas Financial Markets grew its holdings in shares of ICICI Bank by 101.6% during the 3rd quarter. BNP Paribas Financial Markets now owns 4,633,232 shares of the bank's stock worth $138,302,000 after purchasing an additional 2,334,887 shares in the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of ICICI Bank by 50.1% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 5,502,500 shares of the bank's stock worth $164,250,000 after purchasing an additional 1,836,400 shares during the period. Institutional investors and hedge funds own 18.18% of the company's stock.
ICICI Bank Company Profile
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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.
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