ICICI Bank Limited (NYSE:IBN – Get Free Report)’s stock price crossed above its 50 day moving average during trading on Thursday. The stock has a 50 day moving average of $28.91 and traded as high as $29.14. ICICI Bank shares last traded at $29.12, with a volume of 3,689,666 shares.
Analyst Upgrades and Downgrades
A number of equities analysts have issued reports on IBN shares. Wall Street Zen raised ICICI Bank from a “sell” rating to a “hold” rating in a research note on Saturday, August 29th. Sanford C. Bernstein upgraded ICICI Bank from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 21st. Zacks Research raised ICICI Bank from a “hold” rating to a “strong-buy” rating in a research note on Tuesday. The Goldman Sachs Group began coverage on ICICI Bank in a report on Friday, August 21st. They issued a “buy” rating for the company. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of ICICI Bank in a research note on Monday, October 19th. Two investment analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and one has assigned a Hold rating to the company. According to data from MarketBeat.com, the company has an average rating of “Buy”.
Check Out Our Latest Stock Report on ICICI Bank
ICICI Bank Price Performance
The stock has a 50 day moving average of $28.91 and a two-hundred day moving average of $28.57. The stock has a market cap of $104.54 billion, a PE ratio of 17.30, a PEG ratio of 1.06 and a beta of 0.41. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.06 and a current ratio of 1.06.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of IBN. Summit Wealth Group LLC Co. acquired a new position in shares of ICICI Bank in the 3rd quarter valued at about $203,000. Sumitomo Mitsui Trust Group Inc. lifted its position in shares of ICICI Bank by 37.2% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 69,629 shares of the bank’s stock worth $1,918,000 after purchasing an additional 18,866 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. acquired a new stake in shares of ICICI Bank during the third quarter worth approximately $426,000. Vise Technologies Inc. boosted its holdings in shares of ICICI Bank by 17.8% during the third quarter. Vise Technologies Inc. now owns 280,541 shares of the bank’s stock worth $7,729,000 after purchasing an additional 42,442 shares during the period. Finally, Brooklands Fund Management Ltd purchased a new position in ICICI Bank during the third quarter valued at approximately $35,600,000. 18.18% of the stock is owned by institutional investors and hedge funds.
About ICICI Bank
ICICI Bank Limited is an India-based private-sector bank that provides banking and financial services to individuals, businesses, institutions and government entities. Its offerings include savings and current accounts, deposits, residential and commercial loans, personal loans, credit cards, payments, wealth management, insurance and investment products.
The bank serves retail customers through digital channels and a network of branches and ATMs, while its corporate and institutional businesses provide working-capital finance, term loans, trade finance, cash management, foreign-exchange services and other banking solutions.
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