Investors Purchase Large Volume of Call Options on ICICI Bank (NYSE:IBN)

ICICI Bank Limited (NYSE:IBN) saw some unusual options trading on Monday. Investors purchased 2,619 call options on the company. This represents an increase of 108% compared to the average daily volume of 1,259 call options.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Allspring Global Investments Holdings LLC raised its holdings in shares of ICICI Bank by 1.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 1,138,932 shares of the bank’s stock worth $30,079,000 after acquiring an additional 19,350 shares in the last quarter. Naviter Wealth LLC grew its stake in shares of ICICI Bank by 15.2% in the 1st quarter. Naviter Wealth LLC now owns 52,914 shares of the bank’s stock worth $1,397,000 after buying an additional 6,962 shares in the last quarter. Sivia Capital Partners LLC increased its holdings in shares of ICICI Bank by 3.4% in the 1st quarter. Sivia Capital Partners LLC now owns 19,515 shares of the bank’s stock worth $515,000 after buying an additional 634 shares during the last quarter. Norden Group LLC purchased a new stake in shares of ICICI Bank during the 1st quarter valued at about $245,000. Finally, Legacy Wealth Asset Management LLC lifted its holdings in shares of ICICI Bank by 1.5% in the 1st quarter. Legacy Wealth Asset Management LLC now owns 77,224 shares of the bank’s stock valued at $2,039,000 after acquiring an additional 1,127 shares during the last quarter. Hedge funds and other institutional investors own 18.18% of the company’s stock.

Analyst Upgrades and Downgrades

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

ICICI Bank Price Performance

IBN stock traded up $0.10 during trading on Tuesday, reaching $31.25. The company’s stock had a trading volume of 3,150,777 shares, compared to its average volume of 5,547,447. The company’s fifty day moving average is $29.56 and its 200-day moving average is $28.30. ICICI Bank has a 1 year low of $22.02 and a 1 year high of $31.60. The company has a market capitalization of $110.10 billion, a P/E ratio of 21.84, a price-to-earnings-growth ratio of 2.17 and a beta of 1.02. The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.72.

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

ICICI Bank Increases Dividend

The business also recently declared an annual dividend, which was paid on Monday, August 12th. Shareholders of record on Friday, January 1st were paid a $0.2028 dividend. The ex-dividend date of this dividend was Monday, August 12th. This represents a yield of 0.4%. This is a boost from ICICI Bank’s previous annual dividend of $0.11. ICICI Bank’s payout ratio is presently 13.99%.

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.