Erste Group Bank Decreases Earnings Estimates for ICICI Bank

ICICI Bank Limited (NYSE:IBN) – Investment analysts at Erste Group Bank cut their FY2028 EPS estimates for ICICI Bank in a report issued on Tuesday, May 12th. Erste Group Bank analyst S. Lingnau now forecasts that the bank will post earnings per share of $1.90 for the year, down from their prior estimate of $1.92. The consensus estimate for ICICI Bank’s current full-year earnings is $1.67 per share.

A number of other equities analysts have also commented on IBN. Wall Street Zen raised shares of ICICI Bank from a “strong sell” rating to a “sell” rating in a research report on Saturday, April 25th. Weiss Ratings downgraded shares of ICICI Bank from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 8th. Finally, Zacks Research downgraded shares of ICICI Bank from a “hold” rating to a “strong sell” rating in a research note on Wednesday, April 15th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Reduce”.

ICICI Bank Stock Performance

Shares of NYSE:IBN opened at $25.86 on Tuesday. The firm has a market cap of $92.68 billion, a PE ratio of 16.37, a price-to-earnings-growth ratio of 1.33 and a beta of 0.45. The firm’s 50 day simple moving average is $26.89 and its 200-day simple moving average is $29.19. ICICI Bank has a one year low of $25.08 and a one year high of $34.56. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.02 and a current ratio of 1.04.

Insider Buying and Selling

In other news, Director Rakesh Jha sold 90,000 shares of the stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $14.94, for a total transaction of $1,344,600.00. Following the transaction, the director directly owned 140,750 shares in the company, valued at approximately $2,102,805. This trade represents a 39.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Sandeep Bakhshi sold 24,999 shares of the stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $14.95, for a total transaction of $373,735.05. Following the transaction, the chief executive officer owned 1,071,301 shares in the company, valued at approximately $16,015,949.95. This represents a 2.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 159,999 shares of company stock worth $2,370,385.

Institutional Investors Weigh In On ICICI Bank

Institutional investors have recently bought and sold shares of the company. Larson Financial Group LLC boosted its stake in ICICI Bank by 855.2% in the fourth quarter. Larson Financial Group LLC now owns 831 shares of the bank’s stock valued at $25,000 after acquiring an additional 744 shares in the last quarter. Advisory Services Network LLC acquired a new stake in ICICI Bank in the third quarter valued at approximately $25,000. Transamerica Financial Advisors LLC boosted its stake in ICICI Bank by 487.9% in the fourth quarter. Transamerica Financial Advisors LLC now owns 1,311 shares of the bank’s stock valued at $39,000 after acquiring an additional 1,088 shares in the last quarter. Atlas Capital Advisors Inc. acquired a new stake in ICICI Bank in the fourth quarter valued at approximately $39,000. Finally, Cornerstone Planning Group LLC boosted its stake in ICICI Bank by 97.6% in the third quarter. Cornerstone Planning Group LLC now owns 1,332 shares of the bank’s stock valued at $41,000 after acquiring an additional 658 shares in the last quarter. 18.18% of the stock is currently owned by institutional investors and hedge funds.

ICICI Bank Company Profile

ICICI Bank Limited is an Indian multinational banking and financial services company that provides a broad range of products and services to retail, corporate and institutional customers. The bank traces its origins to the Industrial Credit and Investment Corporation of India, founded in 1955, and was converted into a commercial bank during the 1990s as part of its evolution into a full-service financial institution. It is one of India’s largest private-sector banks and is listed in the United States as an American depositary receipt under the ticker IBN.

The bank’s core activities include retail banking (deposit accounts, consumer loans, mortgages, credit cards and payments), corporate and commercial banking (working capital, term lending, trade finance and cash management), and treasury operations.