ICICI Bank (NYSE:IBN) Reaches New 52-Week High at $29.50

ICICI Bank Limited (NYSE:IBN)’s stock price reached a new 52-week high during mid-day trading on Friday . The company traded as high as $29.50 and last traded at $29.33, with a volume of 165152 shares traded. The stock had previously closed at $28.85.

ICICI Bank Stock Up 0.8 %

The business has a 50 day moving average of $27.28 and a 200-day moving average of $25.83. The stock has a market cap of $102.33 billion, a PE ratio of 20.76, a P/E/G ratio of 2.45 and a beta of 1.04. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.77.

ICICI Bank (NYSE:IBN) last announced its earnings results on Tuesday, April 30th. The bank reported $0.36 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.01). ICICI Bank had a net margin of 24.65% and a return on equity of 16.47%. The company had revenue of $2.98 billion during the quarter, compared to analysts’ expectations of $2.97 billion. Equities research analysts predict that ICICI Bank Limited will post 1.52 EPS for the current fiscal year.

Hedge Funds Weigh In On ICICI Bank

Several hedge funds and other institutional investors have recently bought and sold shares of the company. GAMMA Investing LLC increased its stake in ICICI Bank by 50.7% during the second quarter. GAMMA Investing LLC now owns 5,869 shares of the bank’s stock worth $169,000 after acquiring an additional 1,975 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in ICICI Bank by 13.9% during the first quarter. EverSource Wealth Advisors LLC now owns 14,953 shares of the bank’s stock worth $412,000 after acquiring an additional 1,822 shares during the last quarter. Cetera Advisors LLC increased its stake in ICICI Bank by 76.6% during the first quarter. Cetera Advisors LLC now owns 43,807 shares of the bank’s stock worth $1,157,000 after acquiring an additional 19,007 shares during the last quarter. Cetera Investment Advisers increased its stake in ICICI Bank by 178.5% during the first quarter. Cetera Investment Advisers now owns 75,496 shares of the bank’s stock worth $1,994,000 after acquiring an additional 48,392 shares during the last quarter. Finally, Beck Bode LLC acquired a new stake in shares of ICICI Bank in the first quarter valued at about $439,000. 18.18% of the stock is 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.