ICICI Bank (NYSE:IBN) Reaches New 52-Week High at $29.91

ICICI Bank Limited (NYSE:IBN) shares reached a new 52-week high during trading on Monday . The company traded as high as $29.91 and last traded at $29.91, with a volume of 3654 shares changing hands. The stock had previously closed at $29.62.

Wall Street Analysts Forecast Growth

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

ICICI Bank Stock Up 0.1 %

The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.99 and a current ratio of 0.99. The firm’s 50-day moving average price is $28.80 and its two-hundred day moving average price is $27.52. The firm has a market cap of $105.43 billion, a PE ratio of 21.56, a P/E/G ratio of 2.35 and a beta of 1.03.

ICICI Bank (NYSE:IBN) last announced its quarterly earnings results on Saturday, July 27th. The bank reported $0.37 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.03. ICICI Bank had a net margin of 24.44% and a return on equity of 16.17%. The firm had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.05 billion. As a group, equities research analysts expect that ICICI Bank Limited will post 1.51 EPS for the current fiscal year.

ICICI Bank Increases Dividend

The company also recently declared an annual dividend, which was paid on Monday, August 12th. Shareholders of record on Friday, January 1st were given a dividend of $0.2028 per share. This is a positive change from ICICI Bank’s previous annual dividend of $0.11. The ex-dividend date of this dividend was Monday, August 12th. This represents a yield of 0.4%. ICICI Bank’s payout ratio is 14.39%.

Institutional Investors Weigh In On ICICI Bank

Large investors have recently modified their holdings of the company. Fifth Third Bancorp raised its position in ICICI Bank by 0.6% in the 2nd quarter. Fifth Third Bancorp now owns 65,137 shares of the bank’s stock valued at $1,877,000 after purchasing an additional 361 shares during the last quarter. Continuum Advisory LLC boosted its stake in shares of ICICI Bank by 0.6% during the second quarter. Continuum Advisory LLC now owns 71,452 shares of the bank’s stock worth $2,059,000 after buying an additional 438 shares during the period. Clearbridge Investments LLC grew its holdings in shares of ICICI Bank by 1.8% during the fourth quarter. Clearbridge Investments LLC now owns 26,912 shares of the bank’s stock worth $642,000 after buying an additional 472 shares during the last quarter. RMR Wealth Builders raised its stake in ICICI Bank by 2.5% during the 2nd quarter. RMR Wealth Builders now owns 20,588 shares of the bank’s stock valued at $593,000 after acquiring an additional 500 shares during the last quarter. Finally, CWM LLC lifted its position in ICICI Bank by 6.2% during the 2nd quarter. CWM LLC now owns 8,951 shares of the bank’s stock worth $258,000 after acquiring an additional 525 shares during the period. 18.18% of the stock is owned by institutional investors and hedge funds.

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.