ICICI Bank (NYSE:IBN) Downgraded to “Sell” Rating by StockNews.com

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

ICICI Bank Stock Performance

ICICI Bank stock opened at $28.84 on Monday. The company has a debt-to-equity ratio of 0.70, a current ratio of 1.01 and a quick ratio of 1.01. The company has a fifty day moving average price of $29.82 and a two-hundred day moving average price of $29.55. The company has a market cap of $101.80 billion, a PE ratio of 19.10, a P/E/G ratio of 1.53 and a beta of 0.99. ICICI Bank has a 12 month low of $23.54 and a 12 month high of $32.14.

ICICI Bank (NYSE:IBN) last posted its quarterly earnings data on Saturday, January 25th. The bank reported $0.39 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.03. ICICI Bank had a net margin of 24.40% and a return on equity of 15.61%. Research analysts expect that ICICI Bank will post 1.54 earnings per share for the current year.

Institutional Trading of ICICI Bank

Hedge funds and other institutional investors have recently modified their holdings of the company. JPMorgan Chase & Co. lifted its position in shares of ICICI Bank by 19.2% during the 3rd quarter. JPMorgan Chase & Co. now owns 18,269,477 shares of the bank’s stock worth $545,344,000 after purchasing an additional 2,947,508 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in shares of ICICI Bank by 0.5% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 15,259,276 shares of the bank’s stock worth $455,489,000 after purchasing an additional 81,104 shares during the last quarter. State Street Corp boosted its position in ICICI Bank by 1.8% in the third quarter. State Street Corp now owns 7,779,260 shares of the bank’s stock valued at $232,211,000 after buying an additional 134,697 shares in the last quarter. Daiwa Securities Group Inc. raised its stake in shares of ICICI Bank by 10.3% in the third quarter. Daiwa Securities Group Inc. now owns 6,807,165 shares of the bank’s stock valued at $203,193,000 after acquiring an additional 637,226 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in ICICI Bank by 2.9% in the 4th quarter. Principal Financial Group Inc. now owns 6,692,874 shares of the bank’s stock valued at $199,849,000 after purchasing an additional 188,908 shares during the last quarter. 18.18% of the stock is currently owned by hedge funds and other institutional investors.

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.