ICICI Bank Limited (NYSE:IBN – Get Rating) gapped down before the market opened on Friday . The stock had previously closed at $20.86, but opened at $20.32. ICICI Bank shares last traded at $20.23, with a volume of 1,847,011 shares changing hands.
Analyst Upgrades and Downgrades
Separately, StockNews.com started coverage on ICICI Bank in a research report on Wednesday, October 12th. They set a "hold" rating on the stock.
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ICICI Bank Stock Down 3.6 %
The company has a 50-day simple moving average of $22.05 and a 200 day simple moving average of $21.78. The company has a market cap of $70.16 billion, a P/E ratio of 18.62, a P/E/G ratio of 0.92 and a beta of 1.01. The company has a current ratio of 1.02, a quick ratio of 1.02 and a debt-to-equity ratio of 0.91.
ICICI Bank (NYSE:IBN – Get Rating) last announced its quarterly earnings data on Saturday, January 21st. The bank reported $0.28 EPS for the quarter, meeting the consensus estimate of $0.28. The company had revenue of $3.20 billion for the quarter, compared to the consensus estimate of $2.58 billion. ICICI Bank had a return on equity of 15.14% and a net
margin of 22.23%. On average, equities analysts anticipate that ICICI Bank Limited will post 1.09 EPS for the current year.
Hedge Funds Weigh In On ICICI Bank
Hedge funds have recently bought and sold shares of the business. GQG Partners LLC lifted its holdings in shares of 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. Goldman Sachs Group Inc. lifted its holdings in shares of 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. Dimensional Fund Advisors LP lifted its holdings in shares of ICICI Bank by 1.9% in the 3rd quarter. Dimensional Fund Advisors LP now owns 12,455,697 shares of the bank's stock worth $261,173,000 after buying an additional 236,739 shares during the period. Lone Pine Capital LLC purchased a new stake in shares of ICICI Bank in the 3rd quarter worth $245,195,000. Finally, BlackRock Inc. lifted its holdings in shares of 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. Institutional investors own 15.94% of the company's stock.
About ICICI Bank
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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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