ICICI Bank (NYSE:IBN) Shares Pass Above 200 Day Moving Average – Here’s Why

ICICI Bank Limited (NYSE:IBN)’s stock price crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $28.66 and traded as high as $29.66. ICICI Bank shares last traded at $29.46, with a volume of 2,017,705 shares traded.

Wall Street Analysts Forecast Growth

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

ICICI Bank Price Performance

The company has a market cap of $103.82 billion, a price-to-earnings ratio of 20.04, a price-to-earnings-growth ratio of 1.98 and a beta of 1.02. The company has a fifty day moving average price of $29.94 and a two-hundred day moving average price of $28.66. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.74.

Institutional Trading of ICICI Bank

Institutional investors have recently bought and sold shares of the stock. O Shaughnessy Asset Management LLC boosted its stake in ICICI Bank by 12.5% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 195,176 shares of the bank’s stock valued at $5,155,000 after buying an additional 21,614 shares in the last quarter. LGT Group Foundation acquired a new stake in ICICI Bank in the 1st quarter valued at $1,513,000. National Bank of Canada FI boosted its stake in ICICI Bank by 18.1% in the 1st quarter. National Bank of Canada FI now owns 1,753,375 shares of the bank’s stock valued at $46,973,000 after buying an additional 268,500 shares in the last quarter. Thornburg Investment Management Inc. boosted its stake in ICICI Bank by 7.3% in the 1st quarter. Thornburg Investment Management Inc. now owns 231,892 shares of the bank’s stock valued at $6,083,000 after buying an additional 15,780 shares in the last quarter. Finally, Pitcairn Co. boosted its stake in ICICI Bank by 116.6% in the 1st quarter. Pitcairn Co. now owns 59,420 shares of the bank’s stock valued at $1,569,000 after buying an additional 31,990 shares in the last quarter. Institutional investors and hedge funds own 18.18% of the company’s stock.

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.