ICICI Bank (NYSE:IBN) Shares Pass Above Two Hundred Day Moving Average – Time to Sell?

ICICI Bank Limited (NYSE:IBN) crossed above its two hundred day moving average during trading on Wednesday . The stock has a two hundred day moving average of $30.57 and traded as high as $34.44. ICICI Bank shares last traded at $34.36, with a volume of 4,279,709 shares changing hands.

Wall Street Analyst Weigh In

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

ICICI Bank Stock Performance

The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.70. The firm has a market cap of $122.47 billion, a price-to-earnings ratio of 22.76, a price-to-earnings-growth ratio of 1.53 and a beta of 0.60. The stock has a fifty day moving average price of $32.67 and a 200 day moving average price of $30.57.

ICICI Bank (NYSE:IBN) last released its earnings results on Saturday, April 19th. The bank reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.37 by $0.04. The firm had revenue of $3.33 billion for the quarter, compared to analyst estimates of $280.01 billion. ICICI Bank had a return on equity of 15.61% and a net margin of 24.40%. As a group, analysts predict that ICICI Bank Limited will post 1.53 earnings per share for the current year.

Institutional Trading of ICICI Bank

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IBN. Ninety One UK Ltd bought a new stake in shares of ICICI Bank in the 4th quarter worth approximately $14,766,000. Calamos Advisors LLC bought a new stake in shares of ICICI Bank in the 4th quarter worth approximately $1,019,000. Lockheed Martin Investment Management Co. bought a new stake in shares of ICICI Bank in the 4th quarter worth approximately $806,000. Golden State Equity Partners lifted its position in shares of ICICI Bank by 9,350.0% during the 4th quarter. Golden State Equity Partners now owns 6,993 shares of the bank’s stock worth $209,000 after buying an additional 6,919 shares during the period. Finally, Ninety One North America Inc. lifted its position in shares of ICICI Bank by 177.3% during the 4th quarter. Ninety One North America Inc. now owns 257,219 shares of the bank’s stock worth $7,681,000 after buying an additional 164,470 shares during the period. Institutional investors and hedge funds own 18.18% of the company’s stock.

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.