A secret that hides ICICI Bank Ltd. ADR’s strength (NYSE:IBN)

In yesterday’s Wall Street session, ICICI Bank Ltd. ADR (NYSE:IBN) shares traded at $22.51, down -0.09% from the previous session.

As of this writing, 41 analysts cover ICICI Bank Ltd. ADR (NYSE:IBN). The consensus rating among analysts is ‘Buy’. As we calculate the median target price by taking the range between a high of $33.06 and a low of $25.12, we find $28.61. Given the previous closing price of $22.53, this indicates a potential upside of 26.99 percent. IBN stock price is now -1.84% away from the 50-day moving average and 0.32% away from the 200-day moving average. The market capitalization of the company currently stands at $78.86B.

There are 2 analysts who have given it a hold rating, whereas 38 have given it a buy rating. Brokers who have rated the stock have averaged $28.67 as their price target over the next twelve months.

A total of 0.21% of the company’s stock is owned by insiders.

Thursday morning saw ICICI Bank Ltd. ADR (NYSE: IBN) opened at $22.61. During the past 12 months, ICICI Bank Ltd. ADR has had a low of $19.34 and a high of $24.80. The fifty day moving average price for IBN is $22.93 and a two-hundred day moving average price translates $22.44 for the stock.

The latest earnings results from ICICI Bank Ltd. ADR (NYSE: IBN) was released for Sep, 2023. According to the Banks – Regional Company, earnings per share came in at $0.18, missing analysts’ expectations of $0.31 by -0.13. This compares to $0.28 EPS in the same period last year. The net profit margin was 19.03% and return on equity was 18.80% for IBN. The company reported revenue of $4.71 billion for the quarter, compared to $3.61 billion a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 30.65 percent.

ICICI Bank Ltd. ADR(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.

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