ICICI Bank (NYSE:IBN) Upgraded by Wall Street Zen to “Hold” Rating

Wall Street Zen upgraded shares of ICICI Bank (NYSE:IBN) from a sell rating to a hold rating in a report issued on Friday morning.

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of ICICI Bank in a report on Monday. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, ICICI Bank currently has a consensus rating of “Hold”.

ICICI Bank Stock Up 0.7%

ICICI Bank stock opened at $31.24 on Friday. The company has a debt-to-equity ratio of 0.61, a current ratio of 1.01 and a quick ratio of 1.00. The company’s 50-day moving average is $30.94 and its 200-day moving average is $32.38. The firm has a market capitalization of $111.62 billion, a PE ratio of 19.28, a P/E/G ratio of 1.53 and a beta of 0.55. ICICI Bank has a fifty-two week low of $27.42 and a fifty-two week high of $34.56.

ICICI Bank (NYSE:IBN) last posted its quarterly earnings results on Saturday, October 18th. The bank reported $0.39 EPS for the quarter, topping analysts’ consensus estimates of $0.37 by $0.02. The business had revenue of $6.09 billion during the quarter, compared to analysts’ expectations of $3.37 billion. ICICI Bank had a return on equity of 14.91% and a net margin of 24.91%. Sell-side analysts anticipate that ICICI Bank will post 1.53 earnings per share for the current year.

Hedge Funds Weigh In On ICICI Bank

Hedge funds have recently bought and sold shares of the business. New Vernon Capital Holdings II LLC boosted its holdings in ICICI Bank by 3,336.5% in the 1st quarter. New Vernon Capital Holdings II LLC now owns 26,159,740 shares of the bank’s stock valued at $829,941,000 after purchasing an additional 25,398,509 shares during the period. GQG Partners LLC boosted its stake in shares of ICICI Bank by 20.6% in the first quarter. GQG Partners LLC now owns 77,407,725 shares of the bank’s stock valued at $2,439,891,000 after buying an additional 13,222,098 shares during the period. National Bank of Canada FI grew its position in ICICI Bank by 18,147.4% during the third quarter. National Bank of Canada FI now owns 4,356,752 shares of the bank’s stock worth $131,705,000 after buying an additional 4,332,876 shares in the last quarter. Carrhae Capital LLP bought a new position in ICICI Bank during the 3rd quarter worth $120,997,000. Finally, Man Group plc raised its holdings in ICICI Bank by 244.1% in the 2nd quarter. Man Group plc now owns 5,555,858 shares of the bank’s stock valued at $186,899,000 after acquiring an additional 3,941,439 shares in the last quarter. 18.18% of the stock is owned by institutional investors.

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.