ICICI Bank (NYSE:IBN) Hits New 1-Year High at $22.75

Shares of ICICI Bank Limited (NYSE:IBNGet Rating) reached a new 52-week high during trading on Thursday . The company traded as high as $22.75 and last traded at $22.72, with a volume of 22049 shares. The stock had previously closed at $22.38.

ICICI Bank Price Performance

The stock has a market cap of $80.06 billion, a P/E ratio of 23.71, a PEG ratio of 1.03 and a beta of 1.04. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.01 and a quick ratio of 1.01. The business’s fifty day moving average price is $20.84 and its 200 day moving average price is $19.40.

ICICI Bank Cuts Dividend

The company also recently disclosed an annual dividend, which was paid on Wednesday, August 10th. Stockholders of record on Wednesday, August 10th were paid a $0.112 dividend. This represents a dividend yield of 0.59%. The ex-dividend date was Tuesday, August 9th. ICICI Bank’s dividend payout ratio is currently 11.34%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in IBN. GQG Partners LLC increased its stake in shares of ICICI Bank by 62.5% in the fourth quarter. GQG Partners LLC now owns 45,692,830 shares of the bank’s stock valued at $904,223,000 after buying an additional 17,571,957 shares during the period. Canada Pension Plan Investment Board acquired a new position in shares of ICICI Bank in the first quarter valued at approximately $234,602,000. Schroder Investment Management Group increased its stake in shares of ICICI Bank by 110.7% in the fourth quarter. Schroder Investment Management Group now owns 19,620,717 shares of the bank’s stock valued at $194,147,000 after buying an additional 10,308,358 shares during the period. Goldman Sachs Group Inc. increased its stake in shares of ICICI Bank by 139.4% in the first quarter. Goldman Sachs Group Inc. now owns 13,242,409 shares of the bank’s stock valued at $250,811,000 after buying an additional 7,710,015 shares during the period. Finally, National Bank of Canada FI increased its stake in shares of ICICI Bank by 315.3% in the first quarter. National Bank of Canada FI now owns 7,853,530 shares of the bank’s stock valued at $149,302,000 after buying an additional 5,962,580 shares during the period. Institutional investors and hedge funds own 15.14% of the company’s stock.

About ICICI Bank

(Get Rating)

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, General Insurance, and Others segments. The company offers savings, salary, pension, current, and other accounts; and time, fixed, recurring, and security deposits.

Recommended Stories

Receive News & Ratings for ICICI Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ICICI Bank and related companies with MarketBeat.com's FREE daily email newsletter.