ICICI Bank (NYSE:IBN) Stock Passes Above Two Hundred Day Moving Average – What’s Next?

ICICI Bank Limited (NYSE:IBN)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $30.87 and traded as high as $33.13. ICICI Bank shares last traded at $33.05, with a volume of 3,120,073 shares traded.

Wall Street Analyst Weigh In

Separately, Wall Street Zen raised ICICI Bank from a “sell” rating to a “hold” rating in a research report on Wednesday, March 19th.

ICICI Bank Trading Down 1.4%

The firm has a market cap of $117.83 billion, a price-to-earnings ratio of 21.88, a PEG ratio of 1.53 and a beta of 0.62. The company has a 50-day moving average price of $33.30 and a 200 day moving average price of $30.87. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.70.

ICICI Bank (NYSE:IBN) last issued its earnings results on Saturday, April 19th. The bank reported $0.41 EPS for the quarter, topping the consensus estimate of $0.37 by $0.04. ICICI Bank had a return on equity of 15.61% and a net margin of 24.40%. The business had revenue of $3.33 billion during the quarter, compared to analysts’ expectations of $280.01 billion. As a group, research analysts anticipate that ICICI Bank Limited will post 1.53 earnings per share for the current fiscal year.

Institutional Trading of ICICI Bank

Several hedge funds and other institutional investors have recently modified their holdings of the company. First National Bank of Hutchinson raised its holdings in shares of ICICI Bank by 3.0% during the first quarter. First National Bank of Hutchinson now owns 10,904 shares of the bank’s stock worth $344,000 after acquiring an additional 319 shares in the last quarter. LGT Group Foundation raised its holdings in shares of ICICI Bank by 0.6% during the fourth quarter. LGT Group Foundation now owns 54,566 shares of the bank’s stock worth $1,629,000 after acquiring an additional 344 shares in the last quarter. Wealthstream Advisors Inc. raised its holdings in shares of ICICI Bank by 3.5% during the first quarter. Wealthstream Advisors Inc. now owns 10,245 shares of the bank’s stock worth $323,000 after acquiring an additional 344 shares in the last quarter. AIA Group Ltd raised its holdings in shares of ICICI Bank by 0.3% during the fourth quarter. AIA Group Ltd now owns 124,258 shares of the bank’s stock worth $3,710,000 after acquiring an additional 362 shares in the last quarter. Finally, Golden State Equity Partners raised its holdings in shares of ICICI Bank by 5.2% during the first quarter. Golden State Equity Partners now owns 7,360 shares of the bank’s stock worth $232,000 after acquiring an additional 367 shares in the last quarter. 18.18% of the stock is currently owned by hedge funds and other institutional investors.

ICICI Bank Company Profile

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.