Erste Group Bank Forecasts Stronger Earnings for ICICI Bank

ICICI Bank Limited (NYSE:IBN) – Research analysts at Erste Group Bank boosted their FY2027 earnings per share (EPS) estimates for shares of ICICI Bank in a research report issued on Wednesday, October 21st. Erste Group Bank analyst S. Lingnau now forecasts that the bank will earn $1.76 per share for the year, up from their prior forecast of $1.67. The consensus estimate for ICICI Bank’s current full-year earnings is $1.72 per share. Erste Group Bank also issued estimates for ICICI Bank’s FY2028 earnings at $2.07 EPS.

Other equities analysts have also issued reports about the company. Zacks Research upgraded ICICI Bank from a “strong sell” rating to a “hold” rating in a research note on Monday, July 6th. The Goldman Sachs Group began coverage on shares of ICICI Bank in a report on Friday, August 21st. They set a “buy” rating on the stock. Weiss Ratings reissued a “hold (c)” rating on shares of ICICI Bank in a research report on Monday, October 19th. Sanford C. Bernstein upgraded shares of ICICI Bank from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 21st. Finally, Wall Street Zen upgraded shares of ICICI Bank from a “sell” rating to a “hold” rating in a report on Saturday, August 29th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy”.

ICICI Bank Stock Performance

IBN stock opened at $28.95 on Wednesday. ICICI Bank has a 52-week low of $25.08 and a 52-week high of $31.77. The stock’s fifty day simple moving average is $28.94 and its 200-day simple moving average is $28.59.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the business. Robeco Institutional Asset Management B.V. grew its stake in ICICI Bank by 19.8% during the third quarter. Robeco Institutional Asset Management B.V. now owns 25,330,924 shares of the bank’s stock worth $697,867,000 after buying an additional 4,181,828 shares during the period. Bank of America Corp DE raised its stake in shares of ICICI Bank by 43.0% in the 1st quarter. Bank of America Corp DE now owns 12,932,141 shares of the bank’s stock valued at $334,942,000 after acquiring an additional 3,889,449 shares during the period. Nykredit A S acquired a new position in shares of ICICI Bank during the 2nd quarter valued at $24,012,000. Ninety One North America Inc. lifted its holdings in shares of ICICI Bank by 87.4% during the 3rd quarter. Ninety One North America Inc. now owns 1,137,487 shares of the bank’s stock valued at $31,338,000 after acquiring an additional 530,612 shares in the last quarter. Finally, Pictet Asset Management Holding SA lifted its holdings in shares of ICICI Bank by 17.7% during the 1st quarter. Pictet Asset Management Holding SA now owns 3,294,052 shares of the bank’s stock valued at $85,316,000 after acquiring an additional 495,504 shares in the last quarter. 18.18% of the stock is owned by institutional investors and hedge funds.

ICICI Bank Company Profile

ICICI Bank Limited is an India-based private-sector bank that provides banking and financial services to individuals, businesses, institutions and government entities. Its offerings include savings and current accounts, deposits, residential and commercial loans, personal loans, credit cards, payments, wealth management, insurance and investment products.

The bank serves retail customers through digital channels and a network of branches and ATMs, while its corporate and institutional businesses provide working-capital finance, term loans, trade finance, cash management, foreign-exchange services and other banking solutions.