ICICI Bank (NYSE:IBN) Sets New 1-Year High – Time to Buy?

ICICI Bank Limited (NYSE:IBN) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $32.14 and last traded at $32.03, with a volume of 982379 shares traded. The stock had previously closed at $31.86.

Analysts Set New Price Targets

Separately, StockNews.com raised ICICI Bank from a “sell” rating to a “hold” rating in a report on Wednesday, March 19th.

ICICI Bank Stock Up 0.6 %

The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.70. The firm has a fifty day simple moving average of $29.68 and a 200-day simple moving average of $29.75. The company has a market capitalization of $113.24 billion, a P/E ratio of 21.23, a P/E/G ratio of 1.53 and a beta of 0.65.

ICICI Bank (NYSE:IBN) last announced its quarterly earnings data on Saturday, January 25th. The bank reported $0.39 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.03. ICICI Bank had a return on equity of 15.61% and a net margin of 24.40%. On average, equities research analysts expect that ICICI Bank Limited will post 1.53 EPS for the current fiscal year.

Institutional Investors Weigh In On ICICI Bank

Several large investors have recently modified their holdings of the company. Aaron Wealth Advisors LLC lifted its holdings in shares of ICICI Bank by 9.5% in the fourth quarter. Aaron Wealth Advisors LLC now owns 21,207 shares of the bank’s stock valued at $633,000 after purchasing an additional 1,834 shares in the last quarter. HB Wealth Management LLC lifted its stake in shares of ICICI Bank by 13.2% during the 4th quarter. HB Wealth Management LLC now owns 7,876 shares of the bank’s stock valued at $235,000 after buying an additional 917 shares in the last quarter. Brooklyn Investment Group lifted its holdings in ICICI Bank by 314.9% during the 4th quarter. Brooklyn Investment Group now owns 3,332 shares of the bank’s stock worth $99,000 after purchasing an additional 2,529 shares in the last quarter. Merit Financial Group LLC bought a new position in ICICI Bank in the 4th quarter valued at $207,000. Finally, Empirical Asset Management LLC bought a new position in shares of ICICI Bank in the fourth quarter worth approximately $356,000. 18.18% of the stock is currently owned by institutional investors and hedge funds.

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.