Erste Group Bank Forecasts Stronger Earnings for ICICI Bank

ICICI Bank Limited (NYSE:IBN) – Investment analysts at Erste Group Bank lifted their FY2027 earnings per share estimates for shares of ICICI Bank in a research report issued on Wednesday, October 21st. Erste Group Bank analyst S. Lingnau now expects that the bank will earn $1.76 per share for the year, up from their previous estimate of $1.67. The consensus estimate for ICICI Bank’s current full-year earnings is $1.72 per share. Erste Group Bank also issued estimates for ICICI Bank’s FY2028 earnings at $2.07 EPS.

IBN has been the topic of several other research reports. Wall Street Zen raised shares of ICICI Bank from a “sell” rating to a “hold” rating in a research report on Saturday, August 29th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of ICICI Bank in a research note on Monday, October 19th. Zacks Research upgraded shares of ICICI Bank from a “strong sell” rating to a “hold” rating in a report on Monday, July 6th. The Goldman Sachs Group assumed coverage on shares of ICICI Bank in a report on Friday, August 21st. They set a “buy” rating on the stock. Finally, Sanford C. Bernstein raised shares of ICICI Bank from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 21st. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy”.

ICICI Bank Stock Down 1.1%

NYSE IBN opened at $28.95 on Wednesday. The stock has a 50-day moving average of $28.94 and a two-hundred day moving average of $28.59. ICICI Bank has a 1-year low of $25.08 and a 1-year high of $31.77.

Institutional Investors Weigh In On ICICI Bank

A number of large investors have recently bought and sold shares of the stock. Angeles Wealth Management LLC increased its position in ICICI Bank by 10.3% during the third quarter. Angeles Wealth Management LLC now owns 8,165 shares of the bank’s stock worth $225,000 after buying an additional 762 shares in the last quarter. Park Avenue Securities LLC lifted its holdings in ICICI Bank by 6.3% in the 3rd quarter. Park Avenue Securities LLC now owns 50,729 shares of the bank’s stock valued at $1,398,000 after purchasing an additional 3,027 shares in the last quarter. Deltec Asset Management LLC lifted its holdings in ICICI Bank by 8.5% in the 3rd quarter. Deltec Asset Management LLC now owns 38,500 shares of the bank’s stock valued at $1,061,000 after purchasing an additional 3,000 shares in the last quarter. E. Ohman J or Asset Management AB lifted its holdings in ICICI Bank by 0.5% in the 3rd quarter. E. Ohman J or Asset Management AB now owns 1,349,925 shares of the bank’s stock valued at $37,190,000 after purchasing an additional 6,181 shares in the last quarter. Finally, Foster Victor Wealth Advisors LLC boosted its stake in shares of ICICI Bank by 8.0% during the 3rd quarter. Foster Victor Wealth Advisors LLC now owns 25,661 shares of the bank’s stock worth $756,000 after purchasing an additional 1,906 shares during the last quarter. Institutional investors and hedge funds own 18.18% of the company’s stock.

ICICI Bank Company Profile

ICICI Bank Limited is an India-based private-sector bank that provides banking and financial services to individuals, businesses, institutions and government entities. Its offerings include savings and current accounts, deposits, residential and commercial loans, personal loans, credit cards, payments, wealth management, insurance and investment products.

The bank serves retail customers through digital channels and a network of branches and ATMs, while its corporate and institutional businesses provide working-capital finance, term loans, trade finance, cash management, foreign-exchange services and other banking solutions.