ICICI Bank (NYSE:IBN) Director Sells $652,050.00 in Stock

ICICI Bank Limited (NYSE:IBN) Director Rakesh Jha sold 45,000 shares of ICICI Bank stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $14.49, for a total transaction of $652,050.00. Following the sale, the director owned 95,750 shares in the company, valued at approximately $1,387,417.50. The trade was a 31.97% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Tuesday, April 21st, Rakesh Jha sold 90,000 shares of ICICI Bank stock. The shares were sold at an average price of $14.94, for a total transaction of $1,344,600.00.

ICICI Bank Trading Down 0.0%

ICICI Bank stock opened at $27.59 on Monday. The stock has a market cap of $98.79 billion, a P/E ratio of 17.46, a PEG ratio of 1.40 and a beta of 0.47. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.04 and a quick ratio of 1.02. ICICI Bank Limited has a 1 year low of $25.08 and a 1 year high of $34.56. The firm’s 50 day moving average price is $28.02 and its 200-day moving average price is $29.69.

Wall Street Analyst Weigh In

IBN has been the topic of several research reports. Zacks Research cut shares of ICICI Bank from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 15th. Weiss Ratings cut shares of ICICI Bank from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, February 18th. Finally, Wall Street Zen upgraded shares of ICICI Bank from a “strong sell” rating to a “sell” rating in a research report on Saturday. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, ICICI Bank has an average rating of “Reduce”.

Institutional Investors Weigh In On ICICI Bank

Several large investors have recently bought and sold shares of IBN. Larson Financial Group LLC increased its position in ICICI Bank by 855.2% in the fourth quarter. Larson Financial Group LLC now owns 831 shares of the bank’s stock worth $25,000 after purchasing an additional 744 shares during the last quarter. Advisory Services Network LLC bought a new stake in ICICI Bank in the third quarter worth $25,000. Transamerica Financial Advisors LLC boosted its stake in ICICI Bank by 487.9% during the fourth quarter. Transamerica Financial Advisors LLC now owns 1,311 shares of the bank’s stock worth $39,000 after buying an additional 1,088 shares during the period. Atlas Capital Advisors Inc. purchased a new position in ICICI Bank during the fourth quarter worth $39,000. Finally, Cornerstone Planning Group LLC boosted its stake in ICICI Bank by 97.6% during the third quarter. Cornerstone Planning Group LLC now owns 1,332 shares of the bank’s stock worth $41,000 after buying an additional 658 shares during the period. Institutional investors own 18.18% of the company’s stock.

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.