ICICI Bank Sees Unusually High Options Volume (NYSE:IBN)

ICICI Bank Limited (NYSE:IBN) was the target of unusually large options trading activity on Monday. Stock traders bought 2,619 call options on the company. This is an increase of approximately 108% compared to the typical volume of 1,259 call options.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of ICICI Bank from a “sell” rating to a “hold” rating in a report on Thursday, September 5th.

Hedge Funds Weigh In On ICICI Bank

Institutional investors have recently made changes to their positions in the business. Capital Wealth Planning LLC lifted its stake in shares of ICICI Bank by 62.7% in the 1st quarter. Capital Wealth Planning LLC now owns 154,338 shares of the bank’s stock worth $4,076,000 after purchasing an additional 59,468 shares during the period. Norden Group LLC bought a new position in shares of ICICI Bank in the 1st quarter worth approximately $245,000. ORG Partners LLC bought a new position in shares of ICICI Bank in the 1st quarter worth approximately $54,000. Daiwa Securities Group Inc. raised its stake in ICICI Bank by 26.3% during the 1st quarter. Daiwa Securities Group Inc. now owns 5,102,286 shares of the bank’s stock worth $134,751,000 after acquiring an additional 1,061,167 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its stake in ICICI Bank by 1.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,138,932 shares of the bank’s stock worth $30,079,000 after acquiring an additional 19,350 shares during the period. Institutional investors own 18.18% of the company’s stock.

ICICI Bank Stock Up 0.1 %

Shares of ICICI Bank stock traded up $0.04 during trading on Wednesday, hitting $31.29. The company’s stock had a trading volume of 8,000,075 shares, compared to its average volume of 5,584,332. ICICI Bank has a 52 week low of $22.02 and a 52 week high of $31.60. The company has a fifty day simple moving average of $29.62 and a two-hundred day simple moving average of $28.33. The company has a market capitalization of $110.25 billion, a PE ratio of 21.29, a P/E/G ratio of 2.17 and a beta of 1.02. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.99 and a current ratio of 0.99.

ICICI Bank (NYSE:IBN) last announced its quarterly earnings data on Saturday, July 27th. The bank reported $0.37 EPS for the quarter, beating the consensus estimate of $0.34 by $0.03. ICICI Bank had a net margin of 24.44% and a return on equity of 16.17%. The company had revenue of $3.18 billion for the quarter, compared to the consensus estimate of $3.05 billion. Equities research analysts predict that ICICI Bank will post 1.51 earnings per share for the current year.

ICICI Bank Increases Dividend

The business also recently declared an annual dividend, which was paid on Monday, August 12th. Stockholders of record on Friday, January 1st were issued a dividend of $0.2028 per share. This represents a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, August 12th. This is an increase from ICICI Bank’s previous annual dividend of $0.11. ICICI Bank’s dividend payout ratio (DPR) is presently 13.61%.

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.