ICICI Bank (NYSE:IBN) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of ICICI Bank (NYSE:IBN) from a sell rating to a hold rating in a report issued on Friday morning.

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of ICICI Bank in a report on Monday, November 24th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, ICICI Bank currently has an average rating of “Hold”.

ICICI Bank Stock Performance

IBN opened at $31.24 on Friday. The company’s 50 day moving average is $30.94 and its 200 day moving average is $32.37. The company has a current ratio of 1.01, a quick ratio of 1.00 and a debt-to-equity ratio of 0.61. The company has a market cap of $111.62 billion, a price-to-earnings ratio of 19.28, a PEG ratio of 1.53 and a beta of 0.55. ICICI Bank has a 12-month low of $27.42 and a 12-month high of $34.56.

ICICI Bank (NYSE:IBN) last released its quarterly earnings results on Saturday, October 18th. The bank reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.37 by $0.02. The business had revenue of $6.09 billion for the quarter, compared to the consensus estimate of $3.37 billion. ICICI Bank had a net margin of 24.91% and a return on equity of 14.91%. On average, equities research analysts predict that ICICI Bank will post 1.53 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Vestmark Advisory Solutions Inc. lifted its holdings in shares of ICICI Bank by 103.1% in the 1st quarter. Vestmark Advisory Solutions Inc. now owns 77,172 shares of the bank’s stock valued at $2,432,000 after acquiring an additional 39,175 shares during the last quarter. GQG Partners LLC raised its position in ICICI Bank by 20.6% during the first quarter. GQG Partners LLC now owns 77,407,725 shares of the bank’s stock valued at $2,439,891,000 after purchasing an additional 13,222,098 shares during the period. LGT Group Foundation lifted its stake in shares of ICICI Bank by 26.8% in the 1st quarter. LGT Group Foundation now owns 69,191 shares of the bank’s stock valued at $2,181,000 after purchasing an additional 14,625 shares during the last quarter. Triglav Skladi D.O.O. purchased a new position in shares of ICICI Bank in the 1st quarter worth approximately $1,997,000. Finally, Dalton Investments Inc. boosted its holdings in shares of ICICI Bank by 4.4% in the 1st quarter. Dalton Investments Inc. now owns 1,176,842 shares of the bank’s stock worth $37,094,000 after purchasing an additional 50,100 shares during the period. 18.18% of the stock is currently owned by institutional investors.

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.