ICICI Bank (NYSE:IBN) Share Price Crosses Above Two Hundred Day Moving Average - Should You Sell?

ICICI Bank Limited (NYSE:IBN - Get Free Report)'s share price crossed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $31.67 and traded as high as $33.54. ICICI Bank shares last traded at $33.20, with a volume of 5,375,240 shares.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut shares of ICICI Bank from a "hold" rating to a "sell" rating in a report on Saturday, July 26th.

ICICI Bank Trading Down 1.3%

The company has a debt-to-equity ratio of 0.62, a current ratio of 1.00 and a quick ratio of 1.00. The business has a 50-day simple moving average of $33.56 and a two-hundred day simple moving average of $31.71. The stock has a market cap of $118.47 billion, a price-to-earnings ratio of 20.50, a P/E/G ratio of 2.20 and a beta of 0.61.

ICICI Bank (NYSE:IBN - Get Free Report) last posted its earnings results on Saturday, July 19th. The bank reported $0.43 earnings per share for the quarter, topping analysts' consensus estimates of $0.40 by $0.03. ICICI Bank had a return on equity of 15.40% and a net margin of 24.81%. The business had revenue of $3.65 billion for the quarter, compared to analyst estimates of $3.29 billion. Equities analysts forecast that ICICI Bank Limited will post 1.53 EPS for the current fiscal year.

Hedge Funds Weigh In On ICICI Bank

Several institutional investors and hedge funds have recently modified their holdings of the stock. GQG Partners LLC boosted its holdings in shares of ICICI Bank by 20.6% during the 1st quarter. GQG Partners LLC now owns 77,407,725 shares of the bank's stock worth $2,439,891,000 after buying an additional 13,222,098 shares during the period. WCM Investment Management LLC lifted its position in ICICI Bank by 1.6% during the second quarter. WCM Investment Management LLC now owns 54,453,980 shares of the bank's stock worth $1,844,356,000 after acquiring an additional 840,619 shares during the last quarter. New Vernon Capital Holdings II LLC boosted its holdings in shares of ICICI Bank by 3,336.5% during the first quarter. New Vernon Capital Holdings II LLC now owns 26,159,740 shares of the bank's stock worth $829,941,000 after acquiring an additional 25,398,509 shares during the period. Invesco Ltd. grew its position in shares of ICICI Bank by 2.9% in the first quarter. Invesco Ltd. now owns 20,804,970 shares of the bank's stock valued at $655,773,000 after purchasing an additional 588,023 shares during the last quarter. Finally, FIL Ltd lifted its holdings in ICICI Bank by 18.8% during the 4th quarter. FIL Ltd now owns 19,442,017 shares of the bank's stock worth $580,539,000 after purchasing an additional 3,071,174 shares during the last quarter. 18.18% of the stock is currently owned by institutional investors and hedge funds.

About ICICI Bank

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.

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