ICICI Bank (NYSE:IBN) Stock Price Passes Above Two Hundred Day Moving Average of $23.88

ICICI Bank Limited (NYSE:IBN)’s stock price passed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $23.88 and traded as high as $26.20. ICICI Bank shares last traded at $25.98, with a volume of 5,778,926 shares changing hands.

ICICI Bank Stock Up 0.3 %

The firm has a 50-day simple moving average of $25.14 and a 200 day simple moving average of $23.88. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.99 and a quick ratio of 0.99. The company has a market capitalization of $91.19 billion, a PE ratio of 19.39, a price-to-earnings-growth ratio of 1.67 and a beta of 1.02.

ICICI Bank (NYSE:IBN) last announced its earnings results on Tuesday, January 23rd. The bank reported $0.35 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.35. ICICI Bank had a return on equity of 16.57% and a net margin of 24.82%. The business had revenue of $5.18 billion for the quarter. On average, research analysts predict that ICICI Bank Limited will post 1.38 EPS for the current fiscal year.

Hedge Funds Weigh In On ICICI Bank

Hedge funds have recently bought and sold shares of the company. WCM Investment Management LLC boosted its stake in ICICI Bank by 21.4% in the first quarter. WCM Investment Management LLC now owns 70,848,478 shares of the bank’s stock valued at $1,528,910,000 after acquiring an additional 12,491,086 shares during the period. Goldman Sachs Group Inc. grew its position in ICICI Bank by 139.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 13,242,409 shares of the bank’s stock worth $250,811,000 after purchasing an additional 7,710,015 shares in the last quarter. Voloridge Investment Management LLC grew its holdings in shares of ICICI Bank by 434.8% during the 4th quarter. Voloridge Investment Management LLC now owns 3,835,365 shares of the bank’s stock valued at $91,435,000 after acquiring an additional 3,118,261 shares in the last quarter. BlackRock Inc. grew its holdings in shares of ICICI Bank by 29.2% during the 2nd quarter. BlackRock Inc. now owns 13,655,856 shares of the bank’s stock valued at $315,177,000 after acquiring an additional 3,084,269 shares in the last quarter. Finally, Schroder Investment Management Group grew its holdings in shares of ICICI Bank by 23.9% during the 3rd quarter. Schroder Investment Management Group now owns 15,217,088 shares of the bank’s stock valued at $351,819,000 after acquiring an additional 2,938,260 shares in the last quarter. 18.18% of the stock is currently owned by institutional investors and hedge funds.

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.