ICICI Bank (NYSE:IBN) Stock Crosses Above 200-Day Moving Average – Here’s Why

ICICI Bank Limited (NYSE:IBN)’s stock price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $29.63 and traded as high as $29.90. ICICI Bank shares last traded at $29.68, with a volume of 2,037,285 shares changing hands.

ICICI Bank Trading Down 1.3 %

The company has a 50-day moving average price of $30.40 and a 200 day moving average price of $29.62. The stock has a market capitalization of $103.29 billion, a P/E ratio of 19.91, a price-to-earnings-growth ratio of 2.09 and a beta of 0.99. The company has a current ratio of 1.00, a quick ratio of 1.00 and a debt-to-equity ratio of 0.74.

Institutional Investors Weigh In On ICICI Bank

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Asset Dedication LLC increased its position in shares of ICICI Bank by 620.0% during the third quarter. Asset Dedication LLC now owns 1,008 shares of the bank’s stock worth $30,000 after purchasing an additional 868 shares in the last quarter. ORG Wealth Partners LLC purchased a new position in ICICI Bank during the 3rd quarter worth $50,000. Tsfg LLC acquired a new position in ICICI Bank during the 3rd quarter valued at about $53,000. Hobbs Group Advisors LLC acquired a new stake in ICICI Bank in the third quarter worth about $54,000. Finally, JFS Wealth Advisors LLC boosted its holdings in ICICI Bank by 22.4% in the third quarter. JFS Wealth Advisors LLC now owns 2,875 shares of the bank’s stock worth $86,000 after acquiring an additional 526 shares in the last quarter. Hedge funds and other institutional investors own 18.18% of the company’s stock.

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.