ICICI Bank (NYSE:IBN) Share Price Passes Above 200 Day Moving Average - Time to Sell?

ICICI Bank Limited (NYSE:IBN - Get Free Report) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $31.16 and traded as high as $33.75. ICICI Bank shares last traded at $33.71, with a volume of 5,031,295 shares.

Analysts Set New Price Targets

Separately, Wall Street Zen upgraded shares of ICICI Bank from a "sell" rating to a "hold" rating in a research report on Wednesday, March 19th.

ICICI Bank Stock Performance

The company has a market cap of $119.17 billion, a PE ratio of 21.41, a PEG ratio of 2.18 and a beta of 0.60. 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 business's 50 day moving average is $33.59 and its two-hundred day moving average is $31.16.

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

Institutional Trading of ICICI Bank

A number of institutional investors and hedge funds have recently bought and sold shares of IBN. Proficio Capital Partners LLC purchased a new stake in shares of ICICI Bank during the 4th quarter worth approximately $1,722,000. First National Bank of Hutchinson bought a new stake in ICICI Bank in the fourth quarter worth $316,000. William Blair Investment Management LLC raised its stake in ICICI Bank by 2.4% during the fourth quarter. William Blair Investment Management LLC now owns 3,589,675 shares of the bank's stock valued at $107,178,000 after purchasing an additional 84,344 shares in the last quarter. PDS Planning Inc lifted its position in ICICI Bank by 2.6% during the fourth quarter. PDS Planning Inc now owns 24,269 shares of the bank's stock valued at $725,000 after purchasing an additional 624 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new position in shares of ICICI Bank in the 4th quarter worth $19,755,000. 18.18% of the stock is currently owned by institutional investors.

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.