ICICI Bank (NYSE:IBN) Upgraded by StockNews.com to Hold Rating

StockNews.com upgraded shares of ICICI Bank (NYSE:IBN) from a sell rating to a hold rating in a report published on Wednesday morning.

ICICI Bank Trading Up 0.1 %

Shares of IBN stock opened at $30.61 on Wednesday. The company has a market capitalization of $108.08 billion, a PE ratio of 20.27, a price-to-earnings-growth ratio of 1.53 and a beta of 1.01. ICICI Bank has a 52-week low of $25.13 and a 52-week high of $32.14. The business’s fifty day moving average is $28.59 and its 200 day moving average is $29.59. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.01 and a current ratio of 1.01.

ICICI Bank (NYSE:IBN) last announced its earnings results on Saturday, January 25th. The bank reported $0.39 earnings per share 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%. On average, equities research analysts anticipate that ICICI Bank will post 1.53 EPS for the current fiscal year.

Hedge Funds Weigh In On ICICI Bank

A number of hedge funds and other institutional investors have recently bought and sold shares of IBN. White Oak Capital Partners Pte. Ltd. bought a new stake in shares of ICICI Bank during the 4th quarter worth $155,148,000. GQG Partners LLC lifted its stake in ICICI Bank by 7.7% during the fourth quarter. GQG Partners LLC now owns 64,185,627 shares of the bank’s stock worth $1,916,583,000 after purchasing an additional 4,573,778 shares during the last quarter. Vontobel Holding Ltd. boosted its holdings in shares of ICICI Bank by 7,250.2% in the 4th quarter. Vontobel Holding Ltd. now owns 3,687,868 shares of the bank’s stock worth $110,120,000 after purchasing an additional 3,637,694 shares in the last quarter. FIL Ltd increased its position in shares of ICICI Bank by 18.8% during the 4th quarter. FIL Ltd now owns 19,442,017 shares of the bank’s stock valued at $580,539,000 after purchasing an additional 3,071,174 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of ICICI Bank by 19.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 18,269,477 shares of the bank’s stock valued at $545,344,000 after buying an additional 2,947,508 shares in 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.