ICICI Bank (NYSE:IBN) Shares Pass Above 200 Day Moving Average of $27.73

Shares of ICICI Bank Limited (NYSE:IBN) crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $27.73 and traded as high as $31.07. ICICI Bank shares last traded at $30.60, with a volume of 4,451,568 shares traded.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded ICICI Bank from a “sell” rating to a “hold” rating in a research note on Thursday, September 5th.

ICICI Bank Stock Down 2.2 %

The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.99 and a current ratio of 0.99. The stock’s 50-day moving average price is $29.07 and its two-hundred day moving average price is $27.78. The stock has a market capitalization of $107.65 billion, a PE ratio of 22.01, a P/E/G ratio of 2.53 and a beta of 1.03.

ICICI Bank (NYSE:IBN) last released its earnings results on Saturday, July 27th. The bank reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.03. The firm had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.05 billion. ICICI Bank had a net margin of 24.44% and a return on equity of 16.17%. As a group, analysts expect that ICICI Bank Limited will post 1.51 EPS for the current fiscal year.

ICICI Bank Increases Dividend

The company also recently disclosed an annual dividend, which was paid on Monday, August 12th. Investors of record on Friday, January 1st were issued a $0.2028 dividend. This is a positive change from ICICI Bank’s previous annual dividend of $0.11. This represents a yield of 0.4%. The ex-dividend date of this dividend was Monday, August 12th. ICICI Bank’s payout ratio is presently 14.39%.

Institutional Trading of ICICI Bank

A number of institutional investors and hedge funds have recently modified their holdings of IBN. Capital International Investors increased its holdings in ICICI Bank by 11.5% in the 1st quarter. Capital International Investors now owns 20,827,332 shares of the bank’s stock worth $550,050,000 after buying an additional 2,155,477 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of ICICI Bank by 3.7% in the second quarter. Dimensional Fund Advisors LP now owns 12,253,715 shares of the bank’s stock worth $353,065,000 after acquiring an additional 441,155 shares during the period. Hsbc Holdings PLC raised its holdings in shares of ICICI Bank by 16.8% during the second quarter. Hsbc Holdings PLC now owns 8,191,311 shares of the bank’s stock valued at $236,082,000 after purchasing an additional 1,180,981 shares during the last quarter. Driehaus Capital Management LLC lifted its position in ICICI Bank by 8.4% during the second quarter. Driehaus Capital Management LLC now owns 6,364,221 shares of the bank’s stock valued at $183,353,000 after purchasing an additional 490,892 shares during the period. Finally, Baillie Gifford & Co. boosted its holdings in ICICI Bank by 4.1% in the second quarter. Baillie Gifford & Co. now owns 6,193,699 shares of the bank’s stock worth $178,440,000 after purchasing an additional 243,645 shares during the last quarter. Institutional investors own 18.18% of the company’s stock.

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.