Erste Group Bank Lifts Earnings Estimates for ICICI Bank

Key Points

• Erste Group Bank raised ICICI Bank’s FY2027 earnings estimate to $1.70 per share from $1.68, above the $1.65 consensus, and forecast FY2028 EPS of $1.96.
• ICICI Bank’s shares opened at $30.07 and were down 0.5%, while the stock carried a MarketBeat consensus rating of “Moderate Buy.”
• The bank recently reported quarterly EPS of $0.43, beating analyst expectations of $0.40. Institutional investors own 18.18% of the company, with several funds increasing or initiating positions.

ICICI Bank Limited (NYSE:IBN - Free Report) - Equities research analysts at Erste Group Bank raised their FY2027 earnings estimates for shares of ICICI Bank in a research report issued on Wednesday, August 5th. Erste Group Bank analyst S. Lingnau now forecasts that the bank will earn $1.70 per share for the year, up from their prior forecast of $1.68. The consensus estimate for ICICI Bank's current full-year earnings is $1.65 per share. Erste Group Bank also issued estimates for ICICI Bank's FY2028 earnings at $1.96 EPS.

IBN has been the topic of a number of other reports. Sanford C. Bernstein raised shares of ICICI Bank from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, July 21st. Wall Street Zen upgraded ICICI Bank from a "strong sell" rating to a "sell" rating in a research report on Saturday, April 25th. Weiss Ratings lowered shares of ICICI Bank from a "hold (c+)" rating to a "hold (c)" rating in a report on Friday, May 8th. Finally, Zacks Research upgraded shares of ICICI Bank from a "strong sell" rating to a "hold" rating in a research report on Monday, July 6th. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy".

ICICI Bank Stock Down 0.5%

IBN stock opened at $30.07 on Tuesday. ICICI Bank has a 52 week low of $25.08 and a 52 week high of $33.38. The business has a 50-day simple moving average of $28.82 and a 200 day simple moving average of $28.28. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.57. The company has a market cap of $107.88 billion, a PE ratio of 19.03, a price-to-earnings-growth ratio of 1.65 and a beta of 0.42.

ICICI Bank (NYSE:IBN - Get Free Report) last issued its quarterly earnings results on Sunday, July 19th. The bank reported $0.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.40 by $0.03. The business had revenue of ($2,429.85) million for the quarter, compared to the consensus estimate of $3.32 billion. ICICI Bank had a return on equity of 13.81% and a net margin of 25.60%.

Institutional Trading of ICICI Bank

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Flossbach Von Storch SE acquired a new position in shares of ICICI Bank in the second quarter valued at approximately $3,338,000. E. Ohman J or Asset Management AB boosted its position in ICICI Bank by 7.0% during the 2nd quarter. E. Ohman J or Asset Management AB now owns 1,343,744 shares of the bank's stock worth $39,009,000 after buying an additional 87,595 shares during the period. Dynamic Advisor Solutions LLC bought a new stake in ICICI Bank during the 2nd quarter worth approximately $283,000. Confluence Investment Management LLC grew its holdings in ICICI Bank by 11.2% during the 2nd quarter. Confluence Investment Management LLC now owns 12,186 shares of the bank's stock worth $354,000 after acquiring an additional 1,229 shares during the last quarter. Finally, NewEdge Advisors LLC increased its position in ICICI Bank by 6.5% in the 1st quarter. NewEdge Advisors LLC now owns 22,711 shares of the bank's stock valued at $588,000 after acquiring an additional 1,393 shares during the period. 18.18% of the stock is currently owned by institutional investors.

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.

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