ICICI Bank Limited (NYSE:IBN – Get Rating) – Equities researchers at Jefferies Financial Group lifted their FY2023 earnings per share estimates for shares of ICICI Bank in a note issued to investors on Sunday, January 22nd. Jefferies Financial Group analyst P. Sharma now expects that the bank will post earnings per share of $1.11 for the year, up from their previous forecast of $1.06. The consensus estimate for ICICI Bank's current full-year earnings is $1.07 per share. Jefferies Financial Group also issued estimates for ICICI Bank's FY2024 earnings at $1.27 EPS and FY2025 earnings at $1.41 EPS.
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Separately, StockNews.com assumed coverage on ICICI Bank in a report on Wednesday, October 12th. They issued a "hold" rating for the company.
ICICI Bank Price Performance
IBN opened at $20.68 on Wednesday. The stock's 50 day simple moving average is $22.14 and its 200 day simple moving average is $21.78. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.02 and a quick ratio of 1.02. ICICI Bank has a 1 year low of $16.36 and a 1 year high of $23.75. The firm has a market cap of $72.15 billion, a price-to-earnings ratio of 20.08, a PEG ratio of 0.96 and a beta of 1.01.
Institutional Investors Weigh In On ICICI Bank
Several institutional investors and hedge funds have recently bought and sold shares of IBN. Lone Pine Capital LLC purchased a new stake in ICICI Bank in the 3rd quarter worth approximately $245,195,000. Goldman Sachs Group Inc. lifted its holdings in ICICI Bank by 139.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 13,242,409 shares of the bank's stock worth $250,811,000 after buying an additional 7,710,015 shares during the period. GQG Partners LLC lifted its holdings in ICICI Bank by 27.5% in the 2nd quarter. GQG Partners LLC now owns 28,346,828 shares of the bank's stock worth $502,876,000 after buying an additional 6,116,246 shares during the period. BlackRock Inc. lifted its holdings in ICICI Bank by 63.9% in the 3rd quarter. BlackRock Inc. now owns 10,597,816 shares of the bank's stock worth $222,235,000 after buying an additional 4,132,405 shares during the period. Finally, Victory Capital Management Inc. purchased a new position in shares of ICICI Bank in the 3rd quarter valued at approximately $74,086,000. Hedge funds and other institutional investors own 15.94% of the company's stock.
ICICI Bank Company Profile
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ICICI Bank Ltd. engages in the provision of banking and financial services, which includes retail banking, corporate banking, and treasury operations. It operates through the following segments: Retail Banking, Wholesale Banking, Treasury, Other Banking, Life Insurance, General Insurance, and Others.
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