ICICI Bank (NYSE:IBN) Director Rakesh Jha Sells 45,000 Shares

ICICI Bank Limited (NYSE:IBN) Director Rakesh Jha sold 45,000 shares of the company’s stock in a transaction that occurred on Thursday, April 23rd. The shares were sold at an average price of $14.49, for a total value of $652,050.00. Following the completion of the transaction, the director directly owned 95,750 shares in the company, valued at approximately $1,387,417.50. The trade was a 31.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link.

Rakesh Jha also recently made the following trade(s):

• On Tuesday, April 21st, Rakesh Jha sold 90,000 shares of ICICI Bank stock. The shares were sold at an average price of $14.94, for a total value of $1,344,600.00.

ICICI Bank Stock Down 1.3%

Shares of IBN traded down $0.36 during trading on Friday, reaching $27.70. The company’s stock had a trading volume of 3,804,991 shares, compared to its average volume of 6,760,740. The company has a fifty day moving average of $28.09 and a two-hundred day moving average of $29.72. ICICI Bank Limited has a twelve month low of $25.08 and a twelve month high of $34.56. The company has a market cap of $99.16 billion, a price-to-earnings ratio of 17.53, a P/E/G ratio of 1.44 and a beta of 0.47. The company has a quick ratio of 1.02, a current ratio of 1.04 and a debt-to-equity ratio of 0.58.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in IBN. Larson Financial Group LLC grew its stake in ICICI Bank by 855.2% during the 4th quarter. Larson Financial Group LLC now owns 831 shares of the bank’s stock worth $25,000 after buying an additional 744 shares during the last quarter. Advisory Services Network LLC bought a new position in ICICI Bank during the 3rd quarter worth $25,000. Transamerica Financial Advisors LLC grew its stake in ICICI Bank by 487.9% during the 4th quarter. Transamerica Financial Advisors LLC now owns 1,311 shares of the bank’s stock worth $39,000 after buying an additional 1,088 shares during the last quarter. Atlas Capital Advisors Inc. bought a new position in ICICI Bank during the 4th quarter worth $39,000. Finally, Cornerstone Planning Group LLC grew its stake in shares of ICICI Bank by 97.6% in the third quarter. Cornerstone Planning Group LLC now owns 1,332 shares of the bank’s stock worth $41,000 after purchasing an additional 658 shares in the last quarter. 18.18% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. Weiss Ratings lowered ICICI Bank from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, February 18th. Wall Street Zen lowered ICICI Bank from a “sell” rating to a “strong sell” rating in a research report on Saturday, April 11th. Finally, Zacks Research lowered ICICI Bank from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 15th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, ICICI Bank currently has a consensus rating of “Reduce”.

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.