Stocks of ICICI Bank Limited (NYSE:IBN) traded higher last session on Wall Street, down -1.18% to $23.35.
According to the data, ICICI Bank Limited (NYSE:IBN) has 42 analysts covering its stock. The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $32.99 and a low of $24.81, we find $28.84. Given the previous closing price of $23.63, this indicates a potential upside of 22.05 percent. IBN stock price is now -0.52% away from the 50-day moving average and 4.86% away from the 200-day moving average. The market capitalization of the company currently stands at $81.92B.
A total of 3 analysts have issued a hold rating and 38 have given it a buy rating. Brokers who have rated the stock have averaged $28.78 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 KEYSTONE INVESTORS PTE LTD during the first quarter worth $35,993,000. RHUMBLINE ADVISERS invested $17,243,000 in shares of IBN during the first quarter. In the first quarter, QUBE RESEARCH & TECHNOLOGIES LTD acquired a new stake in ICICI Bank Limited valued at approximately $17,142,000. SCHONFELD STRATEGIC ADVISORS LLC acquired a new stake in IBN for approximately $16,238,000. POINT72 HONG KONG LTD purchased a new stake in IBN valued at around $15,162,000 in the second quarter. In total, there are 670 active investors with 17.50% ownership of the company’s stock.
During the past 12 months, ICICI Bank Limited has had a low of $19.34 and a high of $24.80. The fifty day moving average price for IBN is $23.49 and a two-hundred day moving average price translates $22.27 for the stock.
The latest earnings results from ICICI Bank Limited (NYSE: IBN) was released for Jun, 2023. The net profit margin was 28.20% and return on equity was 17.80% for IBN. The company reported revenue of $4.53 billion for the quarter, compared to $3.4 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 33.12 percent.
Investors who held shares on 08/09/2023 were paid a $0.194934 dividend. On an annualized basis, this represents a $0.32 dividend and a 1.37% percent yield. There was an ex-dividend date of 08/08/2023 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, and Others segments. The company offers savings, salary, pension, current, and other accounts; and time, fixed, recurring, and security deposits services. 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 and card swipes; and credit, debit, prepaid, travel, forex, and corporate cards. In addition, the company offers 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, and institutional banking services; health, personal accident, fire, and motor insurance, as well as distributes general and life insurance products; and 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.
