ICICI Bank (NYSE:IBN) Cut to “Strong Sell” at Wall Street Zen

Wall Street Zen lowered shares of ICICI Bank (NYSE:IBN) from a sell rating to a strong sell rating in a research note released on Saturday morning.

Separately, Weiss Ratings downgraded shares of ICICI Bank from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, February 18th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock presently has a consensus rating of “Hold”.

ICICI Bank Stock Up 1.1%

Shares of NYSE:IBN opened at $28.03 on Friday. The company has a fifty day moving average of $28.48 and a 200-day moving average of $29.83. The company has a market capitalization of $100.36 billion, a PE ratio of 17.74, a price-to-earnings-growth ratio of 1.30 and a beta of 0.47. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.02 and a current ratio of 1.02. ICICI Bank has a 52-week low of $25.08 and a 52-week high of $34.56.

ICICI Bank (NYSE:IBN) last announced its quarterly earnings results on Thursday, January 22nd. The bank reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.03). The company had revenue of $8.53 billion for the quarter, compared to analyst estimates of $3.41 billion. ICICI Bank had a return on equity of 14.17% and a net margin of 24.57%. On average, equities analysts predict that ICICI Bank will post 1.53 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Signaturefd LLC increased its holdings in ICICI Bank by 0.8% in the fourth quarter. Signaturefd LLC now owns 47,843 shares of the bank’s stock valued at $1,426,000 after purchasing an additional 393 shares during the period. Aprio Wealth Management LLC increased its holdings in ICICI Bank by 4.1% in the third quarter. Aprio Wealth Management LLC now owns 10,050 shares of the bank’s stock valued at $304,000 after purchasing an additional 397 shares during the period. CWM LLC increased its holdings in ICICI Bank by 5.9% in the third quarter. CWM LLC now owns 7,959 shares of the bank’s stock valued at $241,000 after purchasing an additional 443 shares during the period. Templeton & Phillips Capital Management LLC increased its holdings in ICICI Bank by 0.7% in the fourth quarter. Templeton & Phillips Capital Management LLC now owns 66,817 shares of the bank’s stock valued at $1,991,000 after purchasing an additional 450 shares during the period. Finally, Cetera Investment Advisers increased its holdings in ICICI Bank by 0.4% in the fourth quarter. Cetera Investment Advisers now owns 114,558 shares of the bank’s stock valued at $3,414,000 after purchasing an additional 458 shares during the period. 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.