ICICI Bank Limited (NYSE:IBN - Get Free Report) shares passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $28.07 and traded as high as $29.57. ICICI Bank shares last traded at $29.30, with a volume of 4,584,700 shares traded.
Wall Street Analysts Forecast Growth
Separately, StockNews.com raised shares of ICICI Bank from a "sell" rating to a "hold" rating in a report on Thursday, September 5th.
View Our Latest Stock Analysis on IBN
ICICI Bank Stock Performance
The company has a debt-to-equity ratio of 0.72, a current ratio of 0.99 and a quick ratio of 0.99. The company has a market cap of $103.95 billion, a price-to-earnings ratio of 21.26, a price-to-earnings-growth ratio of 2.13 and a beta of 1.02. The stock has a 50-day moving average price of $29.27 and a 200 day moving average price of $28.08.
ICICI Bank (NYSE:IBN - Get Free Report) last released its quarterly earnings results on Saturday, July 27th. The bank reported $0.37 earnings per share for the quarter, beating the consensus estimate of $0.34 by $0.03. The company had revenue of $3.18 billion during the quarter, compared to analysts' expectations of $3.05 billion. ICICI Bank had a net margin of 24.44% and a return on equity of 16.17%. As a group, analysts anticipate that ICICI Bank Limited will post 1.51 EPS for the current fiscal year.
ICICI Bank Increases Dividend
The company also recently declared an annual dividend, which was paid on Monday, August 12th. Stockholders of record on Friday, January 1st were issued a $0.2028 dividend. This represents a dividend yield of 0.4%. This is a positive change from ICICI Bank's previous annual dividend of $0.11. The ex-dividend date was Monday, August 12th. ICICI Bank's payout ratio is 14.39%.
Institutional Inflows and Outflows
Institutional investors have recently made changes to their positions in the stock. Asset Dedication LLC increased its holdings in shares of ICICI Bank by 620.0% during the third quarter. Asset Dedication LLC now owns 1,008 shares of the bank's stock worth $30,000 after purchasing an additional 868 shares during the period. ORG Wealth Partners LLC bought a new position in ICICI Bank in the 3rd quarter valued at approximately $50,000. Advisors Asset Management Inc. bought a new stake in shares of ICICI Bank in the first quarter worth $46,000. Tsfg LLC acquired a new stake in shares of ICICI Bank in the third quarter valued at about $53,000. Finally, ORG Partners LLC bought a new position in ICICI Bank during the 1st quarter worth approximately $54,000. Institutional investors and hedge funds own 18.18% of the company's stock.
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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