ICICI Bank (NYSE:IBN) Shares Cross Above 200-Day Moving Average – Should You Sell?

ICICI Bank Limited (NYSE:IBN) shares crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $29.30 and traded as high as $30.34. ICICI Bank shares last traded at $30.30, with a volume of 3,197,641 shares traded.

Wall Street Analyst Weigh In

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

ICICI Bank Price Performance

The company has a market cap of $106.91 billion, a price-to-earnings ratio of 20.61, a price-to-earnings-growth ratio of 2.08 and a beta of 1.00. The stock has a 50 day simple moving average of $30.36 and a two-hundred day simple moving average of $29.33. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.00 and a quick ratio of 1.00.

Hedge Funds Weigh In On ICICI Bank

Institutional investors have recently bought and sold shares of the company. Asset Dedication LLC grew its holdings in shares of ICICI Bank by 620.0% during the 3rd quarter. Asset Dedication LLC now owns 1,008 shares of the bank’s stock worth $30,000 after purchasing an additional 868 shares during the period. ORG Wealth Partners LLC purchased a new position in ICICI Bank during the third quarter worth about $50,000. Tsfg LLC acquired a new stake in shares of ICICI Bank during the third quarter valued at about $53,000. Hobbs Group Advisors LLC purchased a new stake in shares of ICICI Bank in the 3rd quarter valued at approximately $54,000. Finally, JFS Wealth Advisors LLC lifted its holdings in shares of ICICI Bank by 22.4% in the 3rd quarter. JFS Wealth Advisors LLC now owns 2,875 shares of the bank’s stock worth $86,000 after acquiring an additional 526 shares during the last quarter. 18.18% of the stock is owned by hedge funds and other 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.