ICICI Bank (NYSE:IBN) Share Price Passes Above 200-Day Moving Average – What’s Next?

ICICI Bank Limited (NYSE:IBN) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $29.69 and traded as high as $31.74. ICICI Bank shares last traded at $31.38, with a volume of 2,652,999 shares changing hands.

Analyst Ratings Changes

Separately, StockNews.com raised shares of ICICI Bank from a “sell” rating to a “hold” rating in a research report on Wednesday, March 19th.

ICICI Bank Stock Up 0.2 %

The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.70. The company has a market capitalization of $110.80 billion, a price-to-earnings ratio of 20.78, a P/E/G ratio of 1.53 and a beta of 1.01. The business’s 50-day moving average is $28.97 and its 200-day moving average is $29.69.

ICICI Bank (NYSE:IBN) last issued its quarterly earnings data on Saturday, January 25th. The bank reported $0.39 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.03. ICICI Bank had a return on equity of 15.61% and a net margin of 24.40%. As a group, equities analysts predict that ICICI Bank Limited will post 1.53 earnings per share for the current year.

Institutional Investors Weigh In On ICICI Bank

Several hedge funds have recently bought and sold shares of the stock. Kestra Investment Management LLC purchased a new position in shares of ICICI Bank during the 4th quarter valued at approximately $29,000. BOCHK Asset Management Ltd acquired a new stake in ICICI Bank during the fourth quarter valued at $42,000. Hobbs Group Advisors LLC purchased a new position in ICICI Bank in the third quarter valued at $54,000. Murphy & Mullick Capital Management Corp acquired a new position in shares of ICICI Bank in the fourth quarter worth about $76,000. Finally, Ameliora Wealth Management Ltd. purchased a new stake in shares of ICICI Bank during the 4th quarter worth about $82,000. Hedge funds and other 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.