StockNews.com upgraded shares of ICICI Bank (NYSE:IBN - Free Report) from a sell rating to a hold rating in a report issued on Wednesday.
ICICI Bank Stock Performance
ICICI Bank stock traded up $0.64 during mid-day trading on Wednesday, reaching $31.28. The company's stock had a trading volume of 6,305,650 shares, compared to its average volume of 4,662,127. The company has a market capitalization of $110.46 billion, a P/E ratio of 20.71, a PEG ratio of 1.53 and a beta of 1.01. The firm's fifty day moving average price is $28.67 and its two-hundred day moving average price is $29.61. ICICI Bank has a 12-month low of $25.13 and a 12-month high of $32.14. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.01 and a current ratio of 1.01.
ICICI Bank (NYSE:IBN - Get Free Report) last released its quarterly earnings data on Saturday, January 25th. The bank reported $0.39 earnings per share (EPS) for the quarter, beating 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%. Sell-side analysts predict that ICICI Bank will post 1.53 EPS for the current fiscal year.
Hedge Funds Weigh In On ICICI Bank
A number of large investors have recently modified their holdings of the company. White Oak Capital Partners Pte. Ltd. purchased a new position in shares of ICICI Bank during the 4th quarter valued at $155,148,000. GQG Partners LLC boosted its stake in ICICI Bank by 7.7% during the fourth quarter. GQG Partners LLC now owns 64,185,627 shares of the bank's stock valued at $1,916,583,000 after buying an additional 4,573,778 shares during the period. Vontobel Holding Ltd. grew its position in 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 buying an additional 3,637,694 shares in the last quarter. FIL Ltd increased its stake in ICICI Bank by 18.8% in the 4th quarter. FIL Ltd now owns 19,442,017 shares of the bank's stock worth $580,539,000 after acquiring an additional 3,071,174 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of 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. 18.18% of the stock is currently owned by institutional investors.
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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