ICICI Bank (NYSE:IBN) Stock Rating Lowered by StockNews.com

ICICI Bank (NYSE:IBN) was downgraded by StockNews.com from a “hold” rating to a “sell” rating in a research note issued to investors on Monday.

ICICI Bank Stock Up 1.3 %

IBN opened at $29.20 on Monday. ICICI Bank has a fifty-two week low of $23.54 and a fifty-two week high of $32.14. The firm has a market capitalization of $103.06 billion, a P/E ratio of 19.33, a PEG ratio of 1.53 and a beta of 0.98. The company’s 50-day moving average is $29.77 and its 200 day moving average is $29.55. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.01 and a quick ratio of 1.01.

ICICI Bank (NYSE:IBN) last posted its quarterly earnings data 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%. Research analysts expect that ICICI Bank will post 1.54 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Cetera Investment Advisers grew its position in ICICI Bank by 2.0% during the second quarter. Cetera Investment Advisers now owns 77,015 shares of the bank’s stock valued at $2,219,000 after buying an additional 1,519 shares during the period. Sanctuary Advisors LLC purchased a new position in ICICI Bank in the second quarter valued at about $1,534,000. GAMMA Investing LLC grew its position in shares of ICICI Bank by 17.8% during the 3rd quarter. GAMMA Investing LLC now owns 6,915 shares of the bank’s stock valued at $206,000 after acquiring an additional 1,046 shares during the period. Diversified Trust Co purchased a new stake in shares of ICICI Bank during the 3rd quarter worth approximately $582,000. Finally, Atomi Financial Group Inc. raised its holdings in shares of ICICI Bank by 22.3% in the 3rd quarter. Atomi Financial Group Inc. now owns 33,537 shares of the bank’s stock worth $1,001,000 after purchasing an additional 6,119 shares during the period. Institutional investors own 18.18% of the company’s stock.

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.