ICICI Bank Ltd (NYSE:IBN) – Research analysts at Jefferies Financial Group issued their Q2 2019 earnings estimates for ICICI Bank in a research report issued on Monday, October 15th. Jefferies Financial Group analyst N. Karfa forecasts that the bank will post earnings of $0.05 per share for the quarter. Jefferies Financial Group also issued estimates for ICICI Bank’s FY2019 earnings at $0.30 EPS and FY2020 earnings at $0.66 EPS.
Other equities research analysts have also recently issued research reports about the company. ValuEngine upgraded ICICI Bank from a “sell” rating to a “hold” rating in a research note on Thursday, June 21st. JPMorgan Chase & Co. upgraded ICICI Bank from a “neutral” rating to an “overweight” rating in a research note on Monday. Zacks Investment Research cut ICICI Bank from a “hold” rating to a “sell” rating in a research note on Monday, August 13th. Finally, Goldman Sachs Group cut ICICI Bank from a “conviction-buy” rating to a “buy” rating in a research note on Thursday, June 21st. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and an average price target of $11.00.
IBN opened at $8.34 on Wednesday. ICICI Bank has a 1-year low of $7.61 and a 1-year high of $11.26. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.97. The firm has a market capitalization of $27.20 billion, a P/E ratio of 26.06 and a beta of 1.91.
ICICI Bank (NYSE:IBN) last posted its quarterly earnings results on Friday, July 27th. The bank reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.07). ICICI Bank had a net margin of 6.04% and a return on equity of 3.93%. The business had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.37 billion.
Hedge funds and other institutional investors have recently modified their holdings of the business. Baltimore Capital Management Inc. acquired a new position in ICICI Bank in the 2nd quarter valued at $223,000. Nomura Holdings Inc. grew its holdings in ICICI Bank by 139.7% in the 2nd quarter. Nomura Holdings Inc. now owns 163,020 shares of the bank’s stock valued at $1,002,000 after buying an additional 574,075 shares in the last quarter. ANTIPODES PARTNERS Ltd acquired a new position in ICICI Bank in the 2nd quarter valued at $137,000. SP Asset Management acquired a new position in ICICI Bank in the 2nd quarter valued at $106,000. Finally, Morgan Stanley grew its holdings in ICICI Bank by 10.1% in the 2nd quarter. Morgan Stanley now owns 13,146,632 shares of the bank’s stock valued at $105,567,000 after buying an additional 1,202,555 shares in the last quarter. 22.75% of the stock is currently owned by hedge funds and other institutional investors.
ICICI Bank Company Profile
ICICI Bank Limited, together with its subsidiaries, provides banking and financial 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 fixed, recurring, and security deposits.
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