ICICI Bank (NYSE:IBN) Hits New 12-Month High at $29.91

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

Analyst Ratings Changes

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

ICICI Bank Stock Up 1.0 %

The company has a quick ratio of 0.99, a current ratio of 0.99 and a debt-to-equity ratio of 0.72. The company has a market capitalization of $105.22 billion, a P/E ratio of 21.31, a price-to-earnings-growth ratio of 2.35 and a beta of 1.03. The company has a 50-day moving average of $28.77 and a two-hundred day moving average of $27.46.

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

ICICI Bank Increases Dividend

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

Hedge Funds Weigh In On ICICI Bank

A number of hedge funds have recently added to or reduced their stakes in the company. Sanctuary Advisors LLC bought a new position in shares of ICICI Bank during the second quarter valued at $1,534,000. Cetera Investment Advisers grew its stake in shares of ICICI Bank by 2.0% in the second quarter. Cetera Investment Advisers now owns 77,015 shares of the bank’s stock worth $2,219,000 after acquiring an additional 1,519 shares during the period. Driehaus Capital Management LLC raised its holdings in shares of ICICI Bank by 8.4% during the second quarter. Driehaus Capital Management LLC now owns 6,364,221 shares of the bank’s stock valued at $183,353,000 after purchasing an additional 490,892 shares during the last quarter. Susquehanna International Group Ltd. purchased a new stake in ICICI Bank in the second quarter worth approximately $720,000. Finally, The Manufacturers Life Insurance Company grew its position in ICICI Bank by 16.5% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 528,324 shares of the bank’s stock worth $15,221,000 after purchasing an additional 74,753 shares during the period. 18.18% of the stock is currently owned by hedge funds and other institutional investors.

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.