ICICI Bank (NYSE:IBN) Shares Pass Above 200 Day Moving Average – What’s Next?

ICICI Bank Limited (NYSE:IBN)’s stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $29.14 and traded as high as $31.28. ICICI Bank shares last traded at $30.94, with a volume of 4,444,170 shares.

Analyst Ratings Changes

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

ICICI Bank Stock Up 0.9 %

The business’s 50 day moving average is $30.21 and its 200 day moving average is $29.18. The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.74. The company has a market cap of $110.10 billion, a P/E ratio of 21.23, a P/E/G ratio of 2.08 and a beta of 1.00.

Hedge Funds Weigh In On ICICI Bank

Several institutional investors and hedge funds have recently added to or reduced their stakes in IBN. Rosenberg Matthew Hamilton boosted its holdings in shares of ICICI Bank by 8.5% in the 2nd quarter. Rosenberg Matthew Hamilton now owns 11,854 shares of the bank’s stock valued at $342,000 after buying an additional 924 shares in the last quarter. Raymond James & Associates grew its holdings in ICICI Bank by 174.3% in the second quarter. Raymond James & Associates now owns 465,768 shares of the bank’s stock worth $13,419,000 after purchasing an additional 295,954 shares during the last quarter. Calamos Wealth Management LLC increased its position in shares of ICICI Bank by 9.5% during the second quarter. Calamos Wealth Management LLC now owns 28,460 shares of the bank’s stock worth $820,000 after purchasing an additional 2,478 shares in the last quarter. Overbrook Management Corp purchased a new stake in shares of ICICI Bank during the 2nd quarter valued at $6,294,000. Finally, Baillie Gifford & Co. boosted its position in shares of ICICI Bank by 4.1% in the 2nd quarter. Baillie Gifford & Co. now owns 6,193,699 shares of the bank’s stock worth $178,440,000 after purchasing an additional 243,645 shares in the last quarter. Hedge funds and other 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.