ICICI Bank (NYSE:IBN) Stock Passes Above 200 Day Moving Average - Here's Why

ICICI Bank Limited (NYSE:IBN - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $30.94 and traded as high as $32.74. ICICI Bank shares last traded at $32.73, with a volume of 4,003,388 shares changing hands.

Wall Street Analysts Forecast Growth

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

ICICI Bank Price Performance

The company has a quick ratio of 1.01, a current ratio of 1.00 and a debt-to-equity ratio of 0.67. The firm has a market cap of $116.72 billion, a P/E ratio of 20.98, a PEG ratio of 2.13 and a beta of 0.62. The business has a fifty day moving average of $33.52 and a 200 day moving average of $30.94.

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

Institutional Investors Weigh In On ICICI Bank

Several hedge funds have recently bought and sold shares of the stock. First National Bank of Hutchinson lifted its position in ICICI Bank by 3.0% during the first quarter. First National Bank of Hutchinson now owns 10,904 shares of the bank's stock worth $344,000 after acquiring an additional 319 shares during the last quarter. LGT Group Foundation lifted its position in ICICI Bank by 0.6% during the fourth quarter. LGT Group Foundation now owns 54,566 shares of the bank's stock worth $1,629,000 after acquiring an additional 344 shares during the last quarter. Wealthstream Advisors Inc. lifted its position in ICICI Bank by 3.5% during the first quarter. Wealthstream Advisors Inc. now owns 10,245 shares of the bank's stock worth $323,000 after acquiring an additional 344 shares during the last quarter. AIA Group Ltd lifted its position in ICICI Bank by 0.3% during the fourth quarter. AIA Group Ltd now owns 124,258 shares of the bank's stock worth $3,710,000 after acquiring an additional 362 shares during the last quarter. Finally, Golden State Equity Partners lifted its position in ICICI Bank by 5.2% during the first quarter. Golden State Equity Partners now owns 7,360 shares of the bank's stock worth $232,000 after acquiring an additional 367 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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