StockNews.com Upgrades ICICI Bank (NYSE:IBN) to Hold

ICICI Bank (NYSE:IBN) was upgraded by StockNews.com from a “sell” rating to a “hold” rating in a report issued on Wednesday.

ICICI Bank Stock Up 0.1 %

ICICI Bank stock traded up $0.04 during trading on Wednesday, reaching $30.61. The stock had a trading volume of 5,744,007 shares, compared to its average volume of 4,644,485. The stock has a market cap of $108.08 billion, a PE ratio of 20.27, a P/E/G ratio of 1.53 and a beta of 1.01. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.70. ICICI Bank has a 52-week low of $25.13 and a 52-week high of $32.14. The business has a 50 day moving average price of $28.59 and a 200 day moving average price of $29.59.

ICICI Bank (NYSE:IBN) last released its quarterly earnings results on Saturday, January 25th. The bank reported $0.39 EPS for the quarter, beating the consensus estimate of $0.36 by $0.03. ICICI Bank had a net margin of 24.40% and a return on equity of 15.61%. On average, analysts predict that ICICI Bank will post 1.53 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Kestra Investment Management LLC acquired a new stake in ICICI Bank during the 4th quarter worth approximately $29,000. BOCHK Asset Management Ltd acquired a new stake in shares of ICICI Bank during the fourth quarter worth approximately $42,000. Hobbs Group Advisors LLC bought a new position in ICICI Bank during the third quarter worth $54,000. Murphy & Mullick Capital Management Corp bought a new position in ICICI Bank during the fourth quarter worth $76,000. Finally, Ameliora Wealth Management Ltd. bought a new position in ICICI Bank during the fourth quarter worth $82,000. 18.18% of the stock is currently owned by hedge funds and other 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.