ICICI Bank (NYSE:IBN) Shares Pass Above Two Hundred Day Moving Average – Time to Sell?

Shares of ICICI Bank Limited (NYSE:IBN) passed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $29.30 and traded as high as $30.34. ICICI Bank shares last traded at $30.30, with a volume of 3,197,641 shares trading hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of ICICI Bank from a “sell” rating to a “hold” rating in a report on Thursday, September 5th.

ICICI Bank Stock Performance

The company has a market cap of $106.91 billion, a PE ratio of 20.61, a PEG ratio of 2.08 and a beta of 1.00. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.00 and a current ratio of 1.00. The firm’s 50 day moving average is $30.36 and its 200-day moving average is $29.30.

Institutional Trading of ICICI Bank

Several large investors have recently added to or reduced their stakes in IBN. Continuum Advisory LLC increased its position in ICICI Bank by 0.6% during the third quarter. Continuum Advisory LLC now owns 71,856 shares of the bank’s stock worth $2,129,000 after purchasing an additional 404 shares during the last quarter. CWM LLC grew its stake in shares of ICICI Bank by 4.7% in the 3rd quarter. CWM LLC now owns 9,371 shares of the bank’s stock valued at $280,000 after buying an additional 420 shares during the period. JFS Wealth Advisors LLC increased its holdings in shares of ICICI Bank by 22.4% during the 3rd quarter. JFS Wealth Advisors LLC now owns 2,875 shares of the bank’s stock worth $86,000 after buying an additional 526 shares during the last quarter. Americana Partners LLC raised its position in shares of ICICI Bank by 5.3% during the 3rd quarter. Americana Partners LLC now owns 11,546 shares of the bank’s stock valued at $345,000 after buying an additional 584 shares during the period. Finally, Asset Dedication LLC increased its stake 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 acquiring an additional 868 shares during the last quarter. 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.