ICICI Bank (NYSE:IBN) Upgraded at StockNews.com

StockNews.com upgraded shares of ICICI Bank (NYSE:IBN) from a sell rating to a hold rating in a report released on Wednesday.

ICICI Bank Stock Up 2.1 %

ICICI Bank stock opened at $31.28 on Wednesday. ICICI Bank has a 1-year low of $25.13 and a 1-year high of $32.14. The firm has a market capitalization of $110.46 billion, a price-to-earnings ratio of 20.71, a P/E/G ratio of 1.53 and a beta of 1.01. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.70. The firm has a 50 day simple moving average of $28.67 and a 200 day simple moving average of $29.61.

ICICI Bank (NYSE:IBN) last released its quarterly earnings data on Saturday, January 25th. The bank reported $0.39 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.03. ICICI Bank had a net margin of 24.40% and a return on equity of 15.61%. On average, analysts predict that ICICI Bank will post 1.53 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Kestra Investment Management LLC purchased a new position in shares of ICICI Bank during the 4th quarter valued at $29,000. BOCHK Asset Management Ltd purchased a new position in shares of ICICI Bank during the 4th quarter valued at $42,000. Hobbs Group Advisors LLC purchased a new position in shares of ICICI Bank during the 3rd quarter valued at $54,000. Murphy & Mullick Capital Management Corp purchased a new position in shares of ICICI Bank during the 4th quarter valued at $76,000. Finally, Ameliora Wealth Management Ltd. purchased a new position in shares of ICICI Bank during the 4th quarter valued at $82,000. 18.18% of the stock is currently owned by hedge funds and other institutional investors.

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.