Erste Group Bank Reduces Earnings Estimates for ICICI Bank

ICICI Bank Limited (NYSE:IBN) – Investment analysts at Erste Group Bank dropped their FY2027 EPS estimates for ICICI Bank in a research note issued to investors on Wednesday, July 15th. Erste Group Bank analyst S. Lingnau now expects that the bank will post earnings of $1.64 per share for the year, down from their previous estimate of $1.67. The consensus estimate for ICICI Bank’s current full-year earnings is $1.64 per share. Erste Group Bank also issued estimates for ICICI Bank’s FY2028 earnings at $1.89 EPS.

Several other research firms have also recently commented on IBN. Weiss Ratings cut shares of ICICI Bank from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, May 8th. Wall Street Zen upgraded shares of ICICI Bank from a “strong sell” rating to a “sell” rating in a research note on Saturday, April 25th. Finally, Zacks Research raised ICICI Bank from a “strong sell” rating to a “hold” rating in a report on Monday, July 6th. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of “Hold”.

ICICI Bank Stock Up 0.1%

IBN stock opened at $29.79 on Monday. The stock has a market cap of $106.83 billion, a PE ratio of 18.85, a price-to-earnings-growth ratio of 1.64 and a beta of 0.43. The firm’s 50-day simple moving average is $27.53 and its 200 day simple moving average is $28.34. ICICI Bank has a fifty-two week low of $25.08 and a fifty-two week high of $34.56. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 0.58.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of IBN. Bank Pictet & Cie Europe AG grew its holdings in shares of ICICI Bank by 17.3% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 47,297 shares of the bank’s stock worth $1,409,000 after acquiring an additional 6,968 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of ICICI Bank by 5.7% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 469,477 shares of the bank’s stock valued at $14,080,000 after purchasing an additional 25,379 shares during the last quarter. TrueMark Investments LLC purchased a new stake in shares of ICICI Bank during the fourth quarter valued at $887,000. Klein Pavlis & Peasley Financial Inc. lifted its holdings in shares of ICICI Bank by 13.4% during the fourth quarter. Klein Pavlis & Peasley Financial Inc. now owns 123,827 shares of the bank’s stock valued at $3,690,000 after purchasing an additional 14,586 shares during the last quarter. Finally, Mayflower Financial Advisors LLC boosted its position in shares of ICICI Bank by 19.5% in the 4th quarter. Mayflower Financial Advisors LLC now owns 8,799 shares of the bank’s stock valued at $262,000 after purchasing an additional 1,436 shares during the period. 18.18% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at ICICI Bank

In other news, Director Rakesh Jha sold 90,000 shares of ICICI Bank stock in a transaction on 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 directly owned 140,750 shares in the company, valued at approximately $2,102,805. This trade represents a 39.00% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Sandeep Bakhshi sold 24,999 shares of the business’s stock in a transaction on Tuesday, April 21st. The stock was sold at an average price of $14.95, for a total value of $373,735.05. Following the completion of the sale, the chief executive officer directly owned 1,071,301 shares in the company, valued at $16,015,949.95. This represents a 2.28% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 159,999 shares of company stock worth $2,370,385.

About ICICI Bank

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.