ICICI Bank (NYSE:IBN) Trading Up 2.3% - Here's What Happened

ICICI Bank Limited (NYSE:IBN - Get Free Report) shares shot up 2.3% during mid-day trading on Friday . The stock traded as high as $31.39 and last traded at $31.34. 665,521 shares changed hands during mid-day trading, a decline of 86% from the average session volume of 4,637,450 shares. The stock had previously closed at $30.64.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised shares of ICICI Bank from a "sell" rating to a "hold" rating in a research note on Wednesday, March 19th.

ICICI Bank Stock Performance

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 company has a market cap of $111.28 billion, a PE ratio of 20.87, a PEG ratio of 1.53 and a beta of 1.01. The business's 50-day moving average is $28.80 and its 200 day moving average is $29.65.

ICICI Bank (NYSE:IBN - Get Free Report) last released its quarterly earnings data 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%. On average, equities research analysts predict that ICICI Bank Limited will post 1.53 EPS for the current fiscal year.

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Institutional Trading of ICICI Bank

A number of institutional investors have recently made changes to their positions in the stock. HighVista Strategies LLC raised its holdings in ICICI Bank by 10.2% during the 3rd quarter. HighVista Strategies LLC now owns 57,447 shares of the bank's stock valued at $1,715,000 after buying an additional 5,300 shares during the last quarter. The Manufacturers Life Insurance Company increased its position in shares of ICICI Bank by 3.8% in the third quarter. The Manufacturers Life Insurance Company now owns 548,402 shares of the bank's stock valued at $16,370,000 after acquiring an additional 20,078 shares during the period. Erste Asset Management GmbH bought a new position in shares of ICICI Bank during the third quarter valued at about $8,323,000. FORA Capital LLC purchased a new stake in shares of ICICI Bank during the third quarter worth about $252,000. Finally, Advisors Asset Management Inc. grew its stake in shares of ICICI Bank by 78.1% in the third quarter. Advisors Asset Management Inc. now owns 4,399 shares of the bank's stock worth $131,000 after purchasing an additional 1,929 shares during the last quarter. Hedge funds and other institutional investors own 18.18% of the company's stock.

About ICICI Bank

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.