ICICI Bank Limited (NYSE:IBN) does about 8.17M shares in volume on a normal day but saw 6264599 shares change hands in Monday trading. The company now has a market cap of 75.07B USD. Its current market price is $21.77, marking an increase of 1.16% compared to the previous close of $21.52. The 52 week high reached by this stock is $23.75 whilst the lowest price level in 52 weeks is $16.36. The script in recent trading has seen the stock touch a high of $21.79 and a low of $21.45.
ICICI Bank Limited (IBN) has a 20-day trading average at $21.57 and the current price is -8.34% off the 52-week high compared with 33.07% distance from its 52-week low. The 50-day simple moving average of the closing price is $22.27 and its 200-day simple moving average is $20.78. If we look at the stock’s price movements over the week, volatility stands at 1.24%, which decreases to 1.21% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 50.53 to suggest the stock is neutral.
46 analysts observing the ICICI Bank Limited (IBN) stock have set the 12-month price targets for the company’s shares at between $24.28 and $30.96. The consensus objective for the share price is $28.43, suggesting that the stock has a potential upside of 23.43% over the period. The median price target is 19.52% away from the current levels at $27.05.
FactSet Research has provided data showing that 46 brokerages have issued ratings for the stock. 0 analysts have rated it as a sell, while 1 advise that it is a overweight. 44 analysts have rated it as a buy and 1 have advised that investors hold their positions. The consensus recommendation rating is Buy and Wall Street’s advice is for investors to Strong Buy the stock.
The current price level is 0.86%, -2.35%, and 4.80% away from its SMA20, SMA50, and SMA200 respectively, with the IBN price moving above the 50-day SMA on January 23. ICICI Bank Limited (IBN) stock is up 0.46% over the week and -1.89% over the past month. Its price is -0.55% year-to-date and 1.21% over the past year.
The stock last released its quarterly earnings report for quarter ended 3/30/2022, with the company’s earnings per share (EPS) of $0.29 above consensus estimates by $0.06. The company’s next earnings report is expected on 05/08/2023, with forecasts estimating quarterly EPS at $0.25 and $1.06 for whole year. IBN’s earnings per share are forecast to grow by 11.60% this year and 19.80% over next year.
Its 12-month price target is $27.12. To reach the target analysts have set, the stock logically needs to grow 23.43 percent from here. Of course, the average price target is just what the average analysts believe a stock will be worth in the next 52 weeks, and is only one metric. There are analysts with lower targets than the average, including one bearish Wall Street research firm advocating investors to wait for the price to pull back to $24.28, given the recent momentum. And then, on the bullish side of things, one analyst is expecting the stock to peak at $31.06.
Outstanding shares total 3.48B with insiders holding 0.18% of the shares and institutional holders owning 16.49% of the company’s common stock. The company has a return on investment of 11.50% and return on equity of 16.00%. The price to earnings ratio (P/E ratio) amounts to 21.14 while the forward price to earnings ratio is 17.01. The beta has a value of 1.00. Price to book ratio is 3.16 and price to sales ratio is 5.85.
According to a U.S. Securities and Exchange Commission filing, Goldman Sachs GQG Partners Intern has added its position in ICICI Bank Limited (IBN) to 22,397,391 shares, mirroring a recent increase by 3.97%. Goldman Sachs GQG Partners Intern added 0.86 million shares of ICICI Bank Limited common stock bringing its total worth to about $490.28 million at the end of recent close, SEC documents show. Goldman Sachs GQG Partners Intern isn’t the only investment manager who changed stakes and is followed by Morgan Stanley Invt Fds – Asia, which sold off -2.04 million shares to end up with 17,898,716 shares worth $391.8 million. Harding Loevner International Equ cut their holdings by -7.18% in the company over the course of the most recent quarter. It now holds a 0.46% position in ICICI Bank Limited thanks to 15.88 million shares amounting to $347.63 million.