ICICI Bank (NYSE:IBN) Hits New 52-Week High - Here's What Happened

ICICI Bank Limited (NYSE:IBN - Get Free Report)'s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $34.52 and last traded at $34.46, with a volume of 2136709 shares trading hands. The stock had previously closed at $33.21.

ICICI Bank Trading Up 2.9%

The business has a 50 day moving average of $33.56 and a 200-day moving average of $31.33. The company has a current ratio of 1.00, a quick ratio of 1.01 and a debt-to-equity ratio of 0.67. The firm has a market capitalization of $121.97 billion, a P/E ratio of 21.91, a PEG ratio of 2.16 and a beta of 0.60.

ICICI Bank (NYSE:IBN - Get Free Report) last issued its quarterly earnings results on Saturday, April 19th. The bank reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.04. The company had revenue of $3.33 billion during the quarter, compared to analysts' expectations of $280.01 billion. ICICI Bank had a net margin of 24.62% and a return on equity of 15.42%. Analysts anticipate that ICICI Bank Limited will post 1.53 EPS for the current fiscal year.

Institutional Investors Weigh In On ICICI Bank

Several hedge funds have recently added to or reduced their stakes in the business. Hardman Johnston Global Advisors LLC increased its position in shares of ICICI Bank by 9.0% in the second quarter. Hardman Johnston Global Advisors LLC now owns 5,205,976 shares of the bank's stock worth $175,129,000 after purchasing an additional 428,650 shares during the period. Robeco Institutional Asset Management B.V. grew its position in ICICI Bank by 11.4% in the second quarter. Robeco Institutional Asset Management B.V. now owns 17,370,769 shares of the bank's stock valued at $584,353,000 after acquiring an additional 1,781,907 shares during the last quarter. BSW Wealth Partners grew its position in ICICI Bank by 4.5% in the second quarter. BSW Wealth Partners now owns 27,041 shares of the bank's stock valued at $910,000 after acquiring an additional 1,155 shares during the last quarter. Ninety One UK Ltd grew its position in ICICI Bank by 17.6% in the second quarter. Ninety One UK Ltd now owns 7,828,003 shares of the bank's stock valued at $263,334,000 after acquiring an additional 1,169,248 shares during the last quarter. Finally, Generali Investments CEE investicni spolecnost a.s. grew its position in ICICI Bank by 5.1% in the second quarter. Generali Investments CEE investicni spolecnost a.s. now owns 117,309 shares of the bank's stock valued at $3,946,000 after acquiring an additional 5,700 shares during the last quarter. Institutional investors and hedge funds own 18.18% of the company's stock.

ICICI Bank Company Profile

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.