ICICI Bank (NYSE:IBN) Shares Pass Above Two Hundred Day Moving Average of $27.40

Shares of ICICI Bank Limited (NYSE:IBN) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $27.40 and traded as high as $29.65. ICICI Bank shares last traded at $29.62, with a volume of 3,268,045 shares.

Analyst Ratings Changes

Separately, StockNews.com upgraded ICICI Bank from a “sell” rating to a “hold” rating in a report on Thursday, September 5th.

ICICI Bank Price Performance

The firm has a 50-day simple moving average of $28.77 and a 200 day simple moving average of $27.43. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.99 and a quick ratio of 0.99. The company has a market capitalization of $104.20 billion, a PE ratio of 21.31, a price-to-earnings-growth ratio of 2.35 and a beta of 1.03.

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

ICICI Bank Increases Dividend

The firm also recently disclosed 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. The ex-dividend date was Monday, August 12th. This is an increase from ICICI Bank’s previous annual dividend of $0.11. This represents a dividend yield of 0.4%. ICICI Bank’s payout ratio is currently 14.39%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Advisors Asset Management Inc. purchased a new position in shares of ICICI Bank during the 1st quarter valued at $46,000. ORG Partners LLC bought a new stake in ICICI Bank in the first quarter worth $54,000. E Fund Management Hong Kong Co. Ltd. boosted its holdings in ICICI Bank by 59.7% in the second quarter. E Fund Management Hong Kong Co. Ltd. now owns 3,532 shares of the bank’s stock worth $102,000 after purchasing an additional 1,321 shares in the last quarter. Whittier Trust Co. of Nevada Inc. bought a new stake in ICICI Bank in the second quarter worth $102,000. Finally, GAMMA Investing LLC boosted its holdings in ICICI Bank by 26.6% in the first quarter. GAMMA Investing LLC now owns 3,894 shares of the bank’s stock worth $103,000 after purchasing an additional 819 shares in the last quarter. 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.