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

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

ICICI Bank Trading Up 0.1 %

ICICI Bank stock opened at $30.64 on Wednesday. The stock has a market cap of $108.21 billion, a PE ratio of 20.29, a P/E/G ratio of 1.53 and a beta of 1.01. The stock has a 50-day moving average price of $28.62 and a 200 day moving average price of $29.60. ICICI Bank has a 52 week low of $25.13 and a 52 week high of $32.14. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.70.

ICICI Bank (NYSE:IBN) last posted its quarterly earnings data on Saturday, January 25th. The bank reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.03. ICICI Bank had a return on equity of 15.61% and a net margin of 24.40%. Equities research analysts predict that ICICI Bank will post 1.53 earnings per share for the current fiscal year.

Institutional Trading of ICICI Bank

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. GQG Partners LLC boosted its stake in ICICI Bank by 7.7% in the 4th quarter. GQG Partners LLC now owns 64,185,627 shares of the bank’s stock worth $1,916,583,000 after buying an additional 4,573,778 shares during the last quarter. Invesco Ltd. boosted its stake in ICICI Bank by 5.7% in the 4th quarter. Invesco Ltd. now owns 20,216,947 shares of the bank’s stock worth $603,678,000 after buying an additional 1,087,816 shares during the last quarter. FIL Ltd boosted its stake in ICICI Bank by 18.8% in the 4th quarter. FIL Ltd now owns 19,442,017 shares of the bank’s stock worth $580,539,000 after buying an additional 3,071,174 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in ICICI Bank by 19.2% in the 3rd quarter. JPMorgan Chase & Co. now owns 18,269,477 shares of the bank’s stock worth $545,344,000 after buying an additional 2,947,508 shares during the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in ICICI Bank by 2.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 12,180,081 shares of the bank’s stock worth $363,747,000 after buying an additional 304,866 shares during the last quarter. Hedge funds and other institutional investors 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.