ICICI Bank FY2027 EPS Forecast Raised by Erste Group Bank

ICICI Bank Limited (NYSE:IBN) – Research analysts at Erste Group Bank lifted their FY2027 EPS estimates for ICICI Bank in a research note issued on Monday, July 27th. Erste Group Bank analyst S. Lingnau now anticipates that the bank will post earnings of $1.68 per share for the year, up from their previous forecast of $1.64. The consensus estimate for ICICI Bank’s current full-year earnings is $1.64 per share. Erste Group Bank also issued estimates for ICICI Bank’s FY2028 earnings at $1.94 EPS.

ICICI Bank (NYSE:IBN) last released its earnings results on Sunday, July 19th. The bank reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.03. The firm had revenue of ($2,429.85) million during the quarter, compared to analysts’ expectations of $3.32 billion. ICICI Bank had a return on equity of 13.81% and a net margin of 25.60%.

A number of other research analysts have also recently commented on the stock. Zacks Research raised shares of ICICI Bank from a “strong sell” rating to a “hold” rating in a report on Monday, July 6th. Weiss Ratings downgraded shares of ICICI Bank from a “hold (c+)” rating to a “hold (c)” rating in a research note on Friday, May 8th. Sanford C. Bernstein raised shares of ICICI Bank from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 21st. Finally, Wall Street Zen upgraded shares of ICICI Bank from a “strong sell” rating to a “sell” rating in a report on Saturday, April 25th. One analyst has rated the stock with a Strong Buy rating and two have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy”.

ICICI Bank Trading Up 1.5%

Shares of IBN opened at $30.21 on Friday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.03 and a current ratio of 1.03. ICICI Bank has a 52-week low of $25.08 and a 52-week high of $33.79. The firm has a market cap of $108.37 billion, a price-to-earnings ratio of 19.12, a PEG ratio of 1.64 and a beta of 0.43. The business’s fifty day moving average is $28.24 and its 200-day moving average is $28.30.

Institutional Investors Weigh In On ICICI Bank

Several hedge funds have recently added to or reduced their stakes in the business. North of South Capital LLP grew its holdings in ICICI Bank by 128.2% during the 4th quarter. North of South Capital LLP now owns 7,388,440 shares of the bank’s stock worth $220,176,000 after acquiring an additional 4,150,207 shares during the last quarter. Morgan Stanley raised its stake in shares of ICICI Bank by 8.0% during the fourth quarter. Morgan Stanley now owns 53,772,858 shares of the bank’s stock valued at $1,602,431,000 after acquiring an additional 3,974,437 shares during the last quarter. Man Group plc raised its stake in shares of ICICI Bank by 244.1% during the second quarter. Man Group plc now owns 5,555,858 shares of the bank’s stock valued at $186,899,000 after acquiring an additional 3,941,439 shares during the last quarter. Bank of America Corp DE lifted its holdings in shares of ICICI Bank by 43.0% during the first quarter. Bank of America Corp DE now owns 12,932,141 shares of the bank’s stock worth $334,942,000 after purchasing an additional 3,889,449 shares during the period. Finally, Deutsche Bank AG lifted its holdings in shares of ICICI Bank by 106.0% during the fourth quarter. Deutsche Bank AG now owns 5,917,302 shares of the bank’s stock worth $176,336,000 after purchasing an additional 3,044,569 shares during the period. 18.18% of the stock is currently owned by institutional investors and hedge funds.

About ICICI Bank

ICICI Bank Limited is an Indian multinational banking and financial services company that provides a broad range of products and services to retail, corporate and institutional customers. The bank traces its origins to the Industrial Credit and Investment Corporation of India, founded in 1955, and was converted into a commercial bank during the 1990s as part of its evolution into a full-service financial institution. It is one of India’s largest private-sector banks and is listed in the United States as an American depositary receipt under the ticker IBN.

The bank’s core activities include retail banking (deposit accounts, consumer loans, mortgages, credit cards and payments), corporate and commercial banking (working capital, term lending, trade finance and cash management), and treasury operations.