Erste Group Bank Forecasts Reduced Earnings for ICICI Bank

ICICI Bank Limited (NYSE:IBN) – Equities research analysts at Erste Group Bank decreased their FY2027 earnings estimates for ICICI Bank in a research report issued on Wednesday, July 15th. Erste Group Bank analyst S. Lingnau now anticipates that the bank will post earnings of $1.64 per share for the year, down from their prior forecast of $1.67. The consensus estimate for ICICI Bank’s current full-year earnings is $1.64 per share. Erste Group Bank also issued estimates for ICICI Bank’s FY2028 earnings at $1.89 EPS.

IBN has been the topic of several other reports. Wall Street Zen raised shares of ICICI Bank from a “strong sell” rating to a “sell” rating in a research note on Saturday, April 25th. Zacks Research raised ICICI Bank from a “strong sell” rating to a “hold” rating in a research report on Monday, July 6th. Finally, Weiss Ratings downgraded ICICI Bank from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 8th. Two equities research analysts have rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has an average rating of “Hold”.

ICICI Bank Stock Up 0.1%

Shares of NYSE:IBN opened at $29.79 on Monday. The firm has a 50 day simple moving average of $27.53 and a 200 day simple moving average of $28.34. ICICI Bank has a 52 week low of $25.08 and a 52 week high of $34.56. The company has a debt-to-equity ratio of 0.58, a quick ratio of 1.02 and a current ratio of 1.04. The company has a market cap of $106.83 billion, a PE ratio of 18.85, a price-to-earnings-growth ratio of 1.64 and a beta of 0.43.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Bank Pictet & Cie Europe AG increased its position in ICICI Bank by 17.3% in the 4th quarter. Bank Pictet & Cie Europe AG now owns 47,297 shares of the bank’s stock worth $1,409,000 after purchasing an additional 6,968 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of ICICI Bank by 5.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 469,477 shares of the bank’s stock valued at $14,080,000 after buying an additional 25,379 shares during the last quarter. TrueMark Investments LLC acquired a new stake in shares of ICICI Bank during the 4th quarter valued at about $887,000. Klein Pavlis & Peasley Financial Inc. grew its stake in shares of ICICI Bank by 13.4% in the 4th quarter. Klein Pavlis & Peasley Financial Inc. now owns 123,827 shares of the bank’s stock valued at $3,690,000 after buying an additional 14,586 shares in the last quarter. Finally, Mayflower Financial Advisors LLC grew its stake in shares of ICICI Bank by 19.5% in the 4th quarter. Mayflower Financial Advisors LLC now owns 8,799 shares of the bank’s stock valued at $262,000 after buying an additional 1,436 shares in the last quarter. Hedge funds and other institutional investors own 18.18% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Sandeep Bakhshi sold 24,999 shares of the company’s stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $14.95, for a total value of $373,735.05. Following the transaction, the chief executive officer directly owned 1,071,301 shares of the company’s stock, valued at approximately $16,015,949.95. This represents a 2.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Rakesh Jha sold 45,000 shares of the stock in a transaction on Thursday, April 23rd. The stock was sold at an average price of $14.49, for a total value of $652,050.00. Following the sale, the director owned 120,875 shares of the company’s stock, valued at approximately $1,751,478.75. This represents a 27.13% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 159,999 shares of company stock valued at $2,370,385 in the last three months.

About ICICI Bank

ICICI Bank Limited is an Indian multinational banking and financial services company that provides a broad range of products and services to retail, corporate and institutional customers. The bank traces its origins to the Industrial Credit and Investment Corporation of India, founded in 1955, and was converted into a commercial bank during the 1990s as part of its evolution into a full-service financial institution. It is one of India’s largest private-sector banks and is listed in the United States as an American depositary receipt under the ticker IBN.

The bank’s core activities include retail banking (deposit accounts, consumer loans, mortgages, credit cards and payments), corporate and commercial banking (working capital, term lending, trade finance and cash management), and treasury operations.