ICICI Bank Limited (NYSE:IBN) shares traded -0.13% lower at $23.08 on Wall Street last session.
In accordance with the data, 43 analysts cover ICICI Bank Limited (NYSE:IBN). The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $30.92 and a low of $24.78, we find $27.59. Given the previous closing price of $23.11, this indicates a potential upside of 19.39 percent. IBN stock price is now 1.31% away from the 50-day moving average and 5.28% away from the 200-day moving average. The market capitalization of the company currently stands at $79.90B.
It has been rated a hold by 2 analysts and a buy by 40. Brokers who have rated the stock have averaged $27.48 as their price target over the next twelve months.
A total of 62.40% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in IBN stock. A new stake in ICICI Bank Limited shares was purchased by CHARLES-LIM CAPITAL LTD during the first quarter worth $71,548,000. WISHBONE MANAGEMENT, LP invested $63,470,000 in shares of IBN during the first quarter. In the first quarter, SAMLYN CAPITAL, LLC acquired a new stake in ICICI Bank Limited valued at approximately $45,433,000. ASPEX MANAGEMENT (HK) LTD acquired a new stake in IBN for approximately $45,045,000. PERPETUAL LTD purchased a new stake in IBN valued at around $40,719,000 in the second quarter. In total, there are 668 active investors with 17.50% ownership of the company’s stock.
ICICI Bank Limited (NYSE: IBN) opened at $23.05 on Friday. During the past 12 months, ICICI Bank Limited has had a low of $17.57 and a high of $23.75. The fifty day moving average price for IBN is $22.81 and a two-hundred day moving average price translates $21.92 for the stock.
The latest earnings results from ICICI Bank Limited (NYSE: IBN) was released for Mar, 2023. According to the Banks – Regional Company, earnings per share came in at $0.3, beating analysts’ expectations of $0.28 by 0.02. This compares to $0.24 EPS in the same period last year. The net profit margin was 24.50% and return on equity was 15.40% for IBN. The company reported revenue of $3.86 billion for the quarter, compared to $2.94 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 31.34 percent.
Investors who held shares on 08/10/2022 were paid a $0.126151 dividend. On an annualized basis, this represents a $0.13 dividend and a 0.55% percent yield. There was an ex-dividend date of 08/09/2022 for this dividend.
ICICI Bank Limited(IBN) 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, General Insurance, and Others segments. The company offers savings, salary, pension, current, and other accounts; and time, fixed, recurring, and security deposits. It also provides home, car, two-wheeler, personal, gold, and commercial business loans, as well as loans against securities and other loans; business loans, including working capital finance, term loans, collateral free loans, loans without financials, finance for importers and exporters, and overdraft facilities, as well as loans for new entities, card swipes, and schools and colleges; and credit, debit, prepaid, travel, and corporate cards. In addition, the company offers insurance products; pockets wallet; fixed income products; investment products, such as mutual funds, gold monetization schemes, initial public offerings, and other online investment services; and agri and rural business, farmer finance, tractor loans, and micro banking services, as well as other services to agri corporates. Further, it provides portfolio management, trade, foreign exchange, locker, private and NRI banking, and cash management services; family wealth and demat accounts; commercial and investment banking, capital market, custodial, project and technology finance, and institutional banking services, as well as Internet, mobile, and phone banking services. Additionally, the company offers securities investment, broking, trading, and underwriting services; and merchant banking, trusteeship, housing finance, pension fund management, asset management, investment advisory, points of presence, and private equity/venture capital fund management services. ICICI Bank Limited was founded in 1955 and is headquartered in Mumbai, India.
