ICICI Bank (NYSE:IBN) Lifted to Hold at StockNews.com

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

ICICI Bank Trading Down 1.9 %

Shares of IBN stock opened at $28.56 on Thursday. ICICI Bank has a 52-week low of $21.89 and a 52-week high of $29.72. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.99 and a current ratio of 0.99. The company has a 50-day simple moving average of $28.73 and a two-hundred day simple moving average of $27.32. The company has a market capitalization of $100.47 billion, a price-to-earnings ratio of 20.55, a PEG ratio of 2.36 and a beta of 1.03.

ICICI Bank (NYSE:IBN) last released its earnings results on Saturday, July 27th. The bank reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.03. ICICI Bank had a net margin of 24.44% and a return on equity of 16.17%. The firm had revenue of $3.18 billion during the quarter, compared to the consensus estimate of $3.05 billion. Research analysts anticipate that ICICI Bank will post 1.51 EPS for the current fiscal year.

ICICI Bank Increases Dividend

The business also recently announced an annual dividend, which was paid on Monday, August 12th. Stockholders of record on Friday, January 1st were given a dividend of $0.2028 per share. This is an increase from ICICI Bank’s previous annual dividend of $0.11. This represents a dividend yield of 0.4%. The ex-dividend date was Monday, August 12th. ICICI Bank’s dividend payout ratio is currently 14.39%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Advisors Asset Management Inc. bought a new position in shares of ICICI Bank during the 1st quarter valued at approximately $46,000. ORG Partners LLC bought a new position in shares of ICICI Bank during the 1st quarter valued at approximately $54,000. E Fund Management Hong Kong Co. Ltd. bought a new position in shares of ICICI Bank during the 1st quarter valued at approximately $58,000. Benjamin F. Edwards & Company Inc. purchased a new stake in shares of ICICI Bank during the 4th quarter valued at approximately $74,000. Finally, Whittier Trust Co. of Nevada Inc. purchased a new stake in shares of ICICI Bank during the 2nd quarter valued at approximately $102,000. 18.18% of the stock is owned by 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.