ICICI Bank (NYSE:IBN) Shares Pass Above 200 Day Moving Average - What's Next?

ICICI Bank Limited (NYSE:IBN - Get Free Report)'s share price passed 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 raised ICICI Bank from a "sell" rating to a "hold" rating in a research note on Wednesday, March 19th.

ICICI Bank Trading Down 0.4%

The stock has a market capitalization of $118.76 billion, a PE ratio of 21.34, a P/E/G ratio of 2.16 and a beta of 0.60. The firm has a 50 day moving average price of $33.57 and a 200 day moving average price of $31.21. The company has a quick ratio of 1.01, a current ratio of 1.00 and a debt-to-equity ratio of 0.67.

ICICI Bank (NYSE:IBN - Get Free Report) last released its earnings results on Saturday, April 19th. The bank reported $0.41 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.37 by $0.04. The company 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%. Equities analysts expect that ICICI Bank Limited will post 1.53 EPS for the current fiscal year.

Hedge Funds Weigh In On ICICI Bank

Several institutional investors have recently modified their holdings of the business. Wayfinding Financial LLC bought a new position in ICICI Bank during the first quarter valued at $26,000. Cornerstone Planning Group LLC boosted its holdings in shares of ICICI Bank by 1,253.4% in the first quarter. Cornerstone Planning Group LLC now owns 785 shares of the bank's stock worth $26,000 after acquiring an additional 727 shares during the period. Northwestern Mutual Wealth Management Co. boosted its holdings in shares of ICICI Bank by 53.2% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,521 shares of the bank's stock worth $48,000 after acquiring an additional 528 shares during the period. Penserra Capital Management LLC bought a new position in shares of ICICI Bank in the first quarter worth $53,000. Finally, Murphy & Mullick Capital Management Corp bought a new position in shares of ICICI Bank in the fourth quarter worth $76,000. 18.18% of the stock is owned by institutional investors.

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.