ICICI Bank (NYSE:IBN) Raised to “Hold” at StockNews.com

ICICI Bank (NYSE:IBN) was upgraded by equities researchers at StockNews.com from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Wednesday.

ICICI Bank Price Performance

ICICI Bank stock opened at $30.64 on Wednesday. ICICI Bank has a one year low of $25.13 and a one year high of $32.14. The company has a debt-to-equity ratio of 0.70, a quick ratio of 1.01 and a current ratio of 1.01. The business has a fifty day moving average of $28.62 and a two-hundred day moving average of $29.60. The company has a market cap of $108.21 billion, a P/E ratio of 20.29, a price-to-earnings-growth ratio of 1.53 and a beta of 1.01.

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

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC increased its position in shares of ICICI Bank by 14.1% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 43,628 shares of the bank’s stock valued at $1,303,000 after buying an additional 5,405 shares in the last quarter. Lansforsakringar Fondforvaltning AB publ purchased a new position in shares of ICICI Bank in the fourth quarter valued at $23,917,000. Employees Retirement System of Texas increased its position in shares of ICICI Bank by 18.1% in the fourth quarter. Employees Retirement System of Texas now owns 326,901 shares of the bank’s stock valued at $9,761,000 after buying an additional 50,012 shares in the last quarter. Public Employees Retirement System of Ohio increased its position in shares of ICICI Bank by 14.7% in the fourth quarter. Public Employees Retirement System of Ohio now owns 430,835 shares of the bank’s stock valued at $12,865,000 after buying an additional 55,236 shares in the last quarter. Finally, BIP Alliance LLC purchased a new position in shares of ICICI Bank in the fourth quarter valued at $282,000. Hedge funds and other institutional investors own 18.18% of the company’s stock.

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.