ICICI Bank (NYSE:IBN) Rating Lowered to Sell at StockNews.com

StockNews.com downgraded shares of ICICI Bank (NYSE:IBN) from a hold rating to a sell rating in a research report released on Monday morning.

ICICI Bank Price Performance

Shares of NYSE IBN opened at $29.18 on Monday. The business’s 50 day moving average is $29.74 and its 200-day moving average is $29.54. The firm has a market cap of $102.99 billion, a P/E ratio of 19.32, a price-to-earnings-growth ratio of 1.53 and a beta of 0.98. ICICI Bank has a 1-year low of $23.54 and a 1-year 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 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%. Equities research analysts predict that ICICI Bank will post 1.54 earnings per share for the current year.

Institutional Investors Weigh In On ICICI Bank

A number of large investors have recently added to or reduced their stakes in IBN. Kestra Investment Management LLC bought a new stake in shares of ICICI Bank during the 4th quarter valued at $29,000. Asset Dedication LLC lifted its position in 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 during the period. BOCHK Asset Management Ltd acquired a new stake in ICICI Bank during the fourth quarter worth about $42,000. ORG Wealth Partners LLC bought a new position in ICICI Bank in the 3rd quarter valued at about $50,000. Finally, Tsfg LLC acquired a new position in shares of ICICI Bank in the 3rd quarter valued at approximately $53,000. Institutional investors and hedge funds 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.