ICICI Bank (NYSE:IBN) Stock Passes Above 200 Day Moving Average - What's Next?

ICICI Bank Limited (NYSE:IBN - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $28.21 and traded as high as $29.67. ICICI Bank shares last traded at $29.57, with a volume of 5,199,187 shares traded.

Wall Street Analysts Forecast Growth

Separately, StockNews.com raised ICICI Bank from a "sell" rating to a "hold" rating in a report on Thursday, September 5th.

ICICI Bank Price 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 firm's fifty day moving average is $29.43 and its two-hundred day moving average is $28.21. The firm has a market cap of $104.02 billion, a price-to-earnings ratio of 21.27, a P/E/G ratio of 2.13 and a beta of 1.02.

ICICI Bank (NYSE:IBN - Get Free Report) last released its earnings results on Saturday, July 27th. The bank reported $0.37 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.34 by $0.03. ICICI Bank had a return on equity of 16.17% and a net margin of 24.44%. The firm had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.05 billion. On average, sell-side analysts expect that ICICI Bank Limited will post 1.51 EPS for the current fiscal year.

ICICI Bank Increases Dividend

The firm also recently declared an annual dividend, which was paid on Monday, August 12th. Shareholders of record on Friday, January 1st were given a $0.2028 dividend. This is a positive change from ICICI Bank's previous annual dividend of $0.11. The ex-dividend date of this dividend was Monday, August 12th. This represents a yield of 0.4%. ICICI Bank's payout ratio is 14.39%.

Institutional Investors Weigh In On ICICI Bank

Institutional investors have recently bought and sold shares of the business. Healthcare of Ontario Pension Plan Trust Fund increased its stake in ICICI Bank by 313.6% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,932,500 shares of the bank's stock valued at $77,447,000 after buying an additional 2,223,400 shares during the period. Capital International Investors increased its holdings in ICICI Bank by 11.5% in the first quarter. Capital International Investors now owns 20,827,332 shares of the bank's stock worth $550,050,000 after buying an additional 2,155,477 shares during the last quarter. Marshall Wace LLP raised its position in ICICI Bank by 7,273.1% during the second quarter. Marshall Wace LLP now owns 2,130,832 shares of the bank's stock valued at $61,389,000 after acquiring an additional 2,101,932 shares in the last quarter. Amansa Capital PTE. LTD. lifted its stake in ICICI Bank by 48.9% in the second quarter. Amansa Capital PTE. LTD. now owns 6,092,159 shares of the bank's stock valued at $175,515,000 after acquiring an additional 2,000,000 shares during the last quarter. Finally, William Blair Investment Management LLC grew its position in ICICI Bank by 162.4% in the second quarter. William Blair Investment Management LLC now owns 2,981,105 shares of the bank's stock worth $85,889,000 after acquiring an additional 1,845,063 shares in the last quarter. 18.18% of the stock is currently owned by institutional investors and hedge funds.

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.