ICICI Bank (NYSE:IBN) Share Price Crosses Above Two Hundred Day Moving Average of $22.44

ICICI Bank Limited (NYSE:IBN)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $22.44 and traded as high as $23.33. ICICI Bank shares last traded at $23.17, with a volume of 5,125,219 shares traded.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on shares of ICICI Bank in a research report on Thursday, August 17th. They issued a “hold” rating on the stock.

ICICI Bank Stock Performance

The business’s 50-day moving average price is $23.51 and its 200-day moving average price is $22.44. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.79. The stock has a market cap of $81.08 billion, a PE ratio of 21.06, a P/E/G ratio of 1.67 and a beta of 0.89.

ICICI Bank (NYSE:IBN) last issued its quarterly earnings data on Saturday, July 22nd. The bank reported $0.24 earnings per share (EPS) for the quarter. ICICI Bank had a net margin of 23.80% and a return on equity of 14.59%. The firm had revenue of $2.18 billion for the quarter, compared to the consensus estimate of $2.76 billion. As a group, equities research analysts expect that ICICI Bank Limited will post 1.3 earnings per share for the current fiscal year.

Institutional Trading of ICICI Bank

A number of institutional investors have recently bought and sold shares of the stock. WCM Investment Management LLC boosted its stake in ICICI Bank by 0.7% in the 2nd quarter. WCM Investment Management LLC now owns 71,336,793 shares of the bank’s stock worth $1,647,167,000 after purchasing an additional 488,315 shares in the last quarter. GQG Partners LLC lifted its stake in ICICI Bank by 20.0% during the 1st quarter. GQG Partners LLC now owns 64,675,715 shares of the bank’s stock valued at $1,395,702,000 after acquiring an additional 10,760,577 shares during the period. Temasek Holdings Private Ltd lifted its stake in ICICI Bank by 10.9% during the 1st quarter. Temasek Holdings Private Ltd now owns 25,217,254 shares of the bank’s stock valued at $544,188,000 after acquiring an additional 2,483,062 shares during the period. FIL Ltd lifted its stake in ICICI Bank by 10.9% during the 1st quarter. FIL Ltd now owns 22,185,631 shares of the bank’s stock valued at $478,766,000 after acquiring an additional 2,180,081 shares during the period. Finally, Capital International Investors lifted its stake in ICICI Bank by 0.9% during the 2nd quarter. Capital International Investors now owns 20,101,214 shares of the bank’s stock valued at $463,945,000 after acquiring an additional 174,229 shares during the period. 18.02% of the stock is currently owned by institutional investors and hedge funds.

About ICICI Bank

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.