ICICI Bank Limited (NYSE:IBN - Get Free Report) shares gapped up prior to trading on Thursday . The stock had previously closed at $31.97, but opened at $32.90. ICICI Bank shares last traded at $33.14, with a volume of 1,203,945 shares trading hands.
Analyst Ratings Changes
Separately, StockNews.com raised ICICI Bank from a "sell" rating to a "hold" rating in a research note on Wednesday, March 19th.
Read Our Latest Stock Analysis on ICICI Bank
ICICI Bank Stock Up 4.1 %
The firm's fifty day simple moving average is $29.93 and its 200 day simple moving average is $29.81. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market capitalization of $118.48 billion, a price-to-earnings ratio of 22.04, a P/E/G ratio of 1.53 and a beta of 0.65.
ICICI Bank (NYSE:IBN - Get Free Report) last released its earnings results on Saturday, January 25th. The bank reported $0.39 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.36 by $0.03. ICICI Bank had a return on equity of 15.61% and a net margin of 24.40%. On average, sell-side analysts forecast that ICICI Bank Limited will post 1.53 earnings per share for the current year.
Hedge Funds Weigh In On ICICI Bank
A number of institutional investors have recently added to or reduced their stakes in the company. White Oak Capital Partners Pte. Ltd. acquired a new position in shares of ICICI Bank during the 4th quarter worth approximately $155,148,000. GQG Partners LLC boosted its position in 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. increased its holdings in shares of ICICI Bank by 7,250.2% in 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 raised its position in shares of ICICI Bank by 18.8% in the fourth 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. lifted its stake in shares of ICICI Bank by 19.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 18,269,477 shares of the bank's stock worth $545,344,000 after buying an additional 2,947,508 shares during the last quarter. 18.18% of the stock is currently owned by institutional investors and hedge funds.
About ICICI Bank
(
Get Free Report)
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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