Rakesh Jha Sells 45,000 Shares of ICICI Bank (NYSE:IBN) Stock

ICICI Bank Limited (NYSE:IBN) Director Rakesh Jha sold 45,000 shares of ICICI Bank stock in a transaction dated Thursday, April 23rd. The shares were sold at an average price of $14.49, for a total value of $652,050.00. Following the completion of the sale, the director owned 95,750 shares of the company’s stock, valued at $1,387,417.50. This trade represents a 31.97% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Rakesh Jha also recently made the following trade(s):

• On Tuesday, April 21st, Rakesh Jha sold 90,000 shares of ICICI Bank stock. The shares were sold at an average price of $14.94, for a total value of $1,344,600.00.

ICICI Bank Trading Down 1.3%

IBN traded down $0.36 during midday trading on Friday, hitting $27.70. The company’s stock had a trading volume of 3,804,991 shares, compared to its average volume of 6,760,740. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.58. The firm has a market cap of $99.16 billion, a P/E ratio of 17.53, a PEG ratio of 1.44 and a beta of 0.47. The firm has a 50-day moving average price of $28.09 and a two-hundred day moving average price of $29.72. ICICI Bank Limited has a 52-week low of $25.08 and a 52-week high of $34.56.

Hedge Funds Weigh In On ICICI Bank

Institutional investors and hedge funds have recently bought and sold shares of the stock. Larson Financial Group LLC boosted its holdings in ICICI Bank by 855.2% in the 4th quarter. Larson Financial Group LLC now owns 831 shares of the bank’s stock worth $25,000 after acquiring an additional 744 shares during the period. Advisory Services Network LLC purchased a new position in ICICI Bank in the 3rd quarter worth approximately $25,000. Transamerica Financial Advisors LLC boosted its holdings in ICICI Bank by 487.9% in the 4th quarter. Transamerica Financial Advisors LLC now owns 1,311 shares of the bank’s stock worth $39,000 after acquiring an additional 1,088 shares during the period. Atlas Capital Advisors Inc. purchased a new position in ICICI Bank in the 4th quarter worth approximately $39,000. Finally, Cornerstone Planning Group LLC raised its position in shares of ICICI Bank by 97.6% in the 3rd quarter. Cornerstone Planning Group LLC now owns 1,332 shares of the bank’s stock valued at $41,000 after purchasing an additional 658 shares in the last quarter. Hedge funds and other institutional investors own 18.18% of the company’s stock.

Analyst Ratings Changes

IBN has been the subject of a number of research reports. Zacks Research cut ICICI Bank from a “hold” rating to a “strong sell” rating in a report on Wednesday, April 15th. Wall Street Zen cut ICICI Bank from a “sell” rating to a “strong sell” rating in a report on Saturday, April 11th. Finally, Weiss Ratings cut ICICI Bank from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, February 18th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Reduce”.

ICICI Bank Company Profile

ICICI Bank Limited is an Indian multinational banking and financial services company that provides a broad range of products and services to retail, corporate and institutional customers. The bank traces its origins to the Industrial Credit and Investment Corporation of India, founded in 1955, and was converted into a commercial bank during the 1990s as part of its evolution into a full-service financial institution. It is one of India’s largest private-sector banks and is listed in the United States as an American depositary receipt under the ticker IBN.

The bank’s core activities include retail banking (deposit accounts, consumer loans, mortgages, credit cards and payments), corporate and commercial banking (working capital, term lending, trade finance and cash management), and treasury operations.