ICICI Bank (NYSE:IBN) Director Sells $1,344,600.00 in Stock

ICICI Bank Limited (NYSE:IBN) Director Rakesh Jha sold 90,000 shares of the business’s stock in a transaction dated Tuesday, April 21st. The stock was sold at an average price of $14.94, for a total transaction of $1,344,600.00. Following the transaction, the director owned 140,750 shares in the company, valued at $2,102,805. This represents a 39.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

Rakesh Jha also recently made the following trade(s):

• On Thursday, April 23rd, Rakesh Jha sold 45,000 shares of ICICI Bank stock. The shares were sold at an average price of $14.49, for a total transaction of $652,050.00.

ICICI Bank Price Performance

NYSE:IBN opened at $27.59 on Monday. ICICI Bank Limited has a one year low of $25.08 and a one year high of $34.56. The company has a market cap of $98.79 billion, a P/E ratio of 17.46, a P/E/G ratio of 1.40 and a beta of 0.47. The firm’s fifty day moving average price is $28.02 and its two-hundred day moving average price is $29.69. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 1.02.

Hedge Funds Weigh In On ICICI Bank

Institutional investors and hedge funds have recently modified their holdings of the business. Larson Financial Group LLC grew its stake in shares of ICICI Bank by 855.2% in the fourth quarter. Larson Financial Group LLC now owns 831 shares of the bank’s stock valued at $25,000 after acquiring an additional 744 shares in the last quarter. Advisory Services Network LLC acquired a new position in shares of ICICI Bank in the third quarter valued at about $25,000. Transamerica Financial Advisors LLC grew its stake in shares of ICICI Bank by 487.9% in the fourth quarter. Transamerica Financial Advisors LLC now owns 1,311 shares of the bank’s stock valued at $39,000 after acquiring an additional 1,088 shares in the last quarter. Atlas Capital Advisors Inc. acquired a new position in shares of ICICI Bank in the fourth quarter valued at about $39,000. Finally, Cornerstone Planning Group LLC grew its stake in shares of ICICI Bank by 97.6% in the third quarter. Cornerstone Planning Group LLC now owns 1,332 shares of the bank’s stock valued at $41,000 after acquiring an additional 658 shares in the last quarter. 18.18% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on IBN shares. Weiss Ratings downgraded shares of ICICI Bank from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, February 18th. Zacks Research downgraded shares of ICICI Bank from a “hold” rating to a “strong sell” rating in a report on Wednesday, April 15th. Finally, Wall Street Zen upgraded shares of ICICI Bank from a “strong sell” rating to a “sell” rating in a report on Saturday. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Reduce”.

ICICI Bank Company Profile

ICICI Bank Limited is an Indian multinational banking and financial services company that provides a broad range of products and services to retail, corporate and institutional customers. The bank traces its origins to the Industrial Credit and Investment Corporation of India, founded in 1955, and was converted into a commercial bank during the 1990s as part of its evolution into a full-service financial institution. It is one of India’s largest private-sector banks and is listed in the United States as an American depositary receipt under the ticker IBN.

The bank’s core activities include retail banking (deposit accounts, consumer loans, mortgages, credit cards and payments), corporate and commercial banking (working capital, term lending, trade finance and cash management), and treasury operations.