ICICI Bank (NYSE:IBN) Reaches New 1-Year Low – Should You Sell?

Shares of ICICI Bank Limited (NYSE:IBN) reached a new 52-week low on Monday . The stock traded as low as $27.32 and last traded at $27.39, with a volume of 1341626 shares traded. The stock had previously closed at $28.20.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Weiss Ratings lowered ICICI Bank from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, February 18th. Wall Street Zen cut ICICI Bank from a “hold” rating to a “sell” rating in a report on Saturday, December 27th. One analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has a consensus rating of “Hold”.

ICICI Bank Trading Up 0.1%

The business has a fifty day moving average of $30.27 and a 200-day moving average of $30.73. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.02 and a current ratio of 1.02. The company has a market capitalization of $100.40 billion, a P/E ratio of 17.76, a PEG ratio of 1.33 and a beta of 0.38.

ICICI Bank (NYSE:IBN) last announced its quarterly earnings results on Thursday, January 22nd. The bank reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.38 by ($0.03). The business had revenue of $8.53 billion for the quarter, compared to the consensus estimate of $3.41 billion. ICICI Bank had a net margin of 24.57% and a return on equity of 14.17%. Analysts anticipate that ICICI Bank Limited will post 1.53 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ICICI Bank

Several institutional investors have recently bought and sold shares of IBN. Larson Financial Group LLC lifted its holdings in ICICI Bank by 855.2% during the fourth quarter. Larson Financial Group LLC now owns 831 shares of the bank’s stock worth $25,000 after acquiring an additional 744 shares during the period. Advisory Services Network LLC bought a new position in ICICI Bank in the 3rd quarter valued at $25,000. Transamerica Financial Advisors LLC increased its position in shares of ICICI Bank by 487.9% during the 4th quarter. Transamerica Financial Advisors LLC now owns 1,311 shares of the bank’s stock valued at $39,000 after purchasing an additional 1,088 shares during the last quarter. Atlas Capital Advisors Inc. bought a new stake in shares of ICICI Bank during the 4th quarter worth $39,000. Finally, Cornerstone Planning Group LLC raised its stake in shares of ICICI Bank by 97.6% during the 3rd quarter. Cornerstone Planning Group LLC now owns 1,332 shares of the bank’s stock worth $41,000 after purchasing an additional 658 shares during the period. Institutional investors own 18.18% of the company’s stock.

About ICICI Bank

ICICI Bank Limited is an Indian multinational banking and financial services company that provides a broad range of products and services to retail, corporate and institutional customers. The bank traces its origins to the Industrial Credit and Investment Corporation of India, founded in 1955, and was converted into a commercial bank during the 1990s as part of its evolution into a full-service financial institution. It is one of India’s largest private-sector banks and is listed in the United States as an American depositary receipt under the ticker IBN.

The bank’s core activities include retail banking (deposit accounts, consumer loans, mortgages, credit cards and payments), corporate and commercial banking (working capital, term lending, trade finance and cash management), and treasury operations.