ICICI Bank (NYSE:IBN) Share Price Passes Above Two Hundred Day Moving Average - Here's Why

Shares of ICICI Bank Limited (NYSE:IBN - Get Free Report) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $31.04 and traded as high as $33.75. ICICI Bank shares last traded at $33.63, with a volume of 3,931,079 shares trading hands.

Wall Street Analyst Weigh In

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 Down 0.1%

The firm has a fifty day moving average price of $33.56 and a 200 day moving average price of $31.04. 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 company has a market cap of $119.79 billion, a P/E ratio of 21.53, a PEG ratio of 2.20 and a beta of 0.60.

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

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp raised its holdings in ICICI Bank by 0.4% during the 4th quarter. Bank of New York Mellon Corp now owns 800,084 shares of the bank's stock worth $23,890,000 after purchasing an additional 2,804 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of ICICI Bank during the 4th quarter worth approximately $1,722,000. SVB Wealth LLC bought a new stake in shares of ICICI Bank during the fourth quarter worth approximately $261,000. LGT Group Foundation lifted its holdings in ICICI Bank by 0.6% in the fourth quarter. LGT Group Foundation now owns 54,566 shares of the bank's stock valued at $1,629,000 after buying an additional 344 shares during the period. Finally, Steward Partners Investment Advisory LLC boosted its stake in ICICI Bank by 1.1% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 100,572 shares of the bank's stock valued at $3,003,000 after acquiring an additional 1,067 shares during the last quarter. Institutional investors 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.