ICICI Bank (NYSE:IBN) Reaches New 12-Month Low – Time to Sell?

Shares of ICICI Bank Limited (NYSE:IBN) hit a new 52-week low on Monday . The stock traded as low as $24.99 and last traded at $25.2050, with a volume of 27336 shares. The stock had previously closed at $25.30.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on IBN. Wall Street Zen cut shares of ICICI Bank from a “hold” rating to a “sell” rating in a report on Saturday, December 27th. Weiss Ratings lowered shares of ICICI Bank from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, February 18th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, ICICI Bank presently has a consensus rating of “Hold”.

ICICI Bank Stock Up 2.8%

The firm has a market capitalization of $92.73 billion, a P/E ratio of 16.40, a P/E/G ratio of 1.22 and a beta of 0.38. The company has a fifty day simple moving average of $29.01 and a 200 day simple moving average of $30.15. The company has a quick ratio of 1.02, a current ratio of 1.02 and a debt-to-equity ratio of 0.59.

ICICI Bank (NYSE:IBN) last posted its quarterly earnings results on Thursday, January 22nd. The bank reported $0.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.38 by ($0.03). The company had revenue of $8.53 billion during the quarter, compared to analysts’ expectations of $3.41 billion. ICICI Bank had a return on equity of 14.17% and a net margin of 24.57%. On average, equities analysts expect that ICICI Bank Limited will post 1.53 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Larson Financial Group LLC grew its holdings in shares of ICICI Bank by 855.2% during the fourth quarter. Larson Financial Group LLC now owns 831 shares of the bank’s stock valued at $25,000 after buying an additional 744 shares during the last quarter. Advisory Services Network LLC purchased a new position in ICICI Bank in the 3rd quarter worth approximately $25,000. Transamerica Financial Advisors LLC lifted its position in ICICI Bank by 487.9% in the 4th quarter. Transamerica Financial Advisors LLC now owns 1,311 shares of the bank’s stock valued at $39,000 after acquiring an additional 1,088 shares in the last quarter. Atlas Capital Advisors Inc. purchased a new stake in ICICI Bank during the 4th quarter valued at $39,000. Finally, Cornerstone Planning Group LLC boosted its stake in ICICI Bank by 97.6% during the 3rd quarter. Cornerstone Planning Group LLC now owns 1,332 shares of the bank’s stock valued at $41,000 after purchasing an additional 658 shares during the last quarter. Institutional investors own 18.18% of the company’s stock.

ICICI Bank Company Profile

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.