ICICI Bank (NYSE:IBN) Stock Price Passes Above 200-Day Moving Average of $27.05

ICICI Bank Limited (NYSE:IBN)’s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $27.05 and traded as high as $28.79. ICICI Bank shares last traded at $28.67, with a volume of 2,553,091 shares.

ICICI Bank Stock Performance

The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.72. The stock has a market capitalization of $100.86 billion, a PE ratio of 20.63, a price-to-earnings-growth ratio of 2.32 and a beta of 1.04. The firm’s fifty day moving average is $28.54 and its 200-day moving average is $27.05.

ICICI Bank (NYSE:IBN) last issued its quarterly earnings data on Saturday, July 27th. The bank reported $0.37 EPS for the quarter, topping the consensus estimate of $0.34 by $0.03. ICICI Bank had a net margin of 24.44% and a return on equity of 16.17%. The firm had revenue of $3.18 billion for the quarter, compared to analyst estimates of $3.05 billion. As a group, research analysts anticipate that ICICI Bank Limited will post 1.51 earnings per share for the current year.

ICICI Bank Increases Dividend

The business also recently disclosed an annual dividend, which was paid on Monday, August 12th. Stockholders of record on Friday, January 1st were issued a $0.2028 dividend. This is a positive change from ICICI Bank’s previous annual dividend of $0.11. This represents a dividend yield of 0.4%. The ex-dividend date of this dividend was Monday, August 12th. ICICI Bank’s dividend payout ratio is currently 14.39%.

Hedge Funds Weigh In On ICICI Bank

Large investors have recently made changes to their positions in the stock. Advisors Asset Management Inc. acquired a new position in shares of ICICI Bank in the 1st quarter worth approximately $46,000. ORG Partners LLC acquired a new stake in ICICI Bank during the 1st quarter worth approximately $54,000. E Fund Management Hong Kong Co. Ltd. acquired a new stake in ICICI Bank during the 1st quarter worth approximately $58,000. GAMMA Investing LLC acquired a new stake in ICICI Bank during the 4th quarter worth approximately $75,000. Finally, Benjamin F. Edwards & Company Inc. acquired a new stake in ICICI Bank during the 4th quarter worth approximately $74,000. 18.18% of the stock is currently owned by institutional investors and hedge funds.

About ICICI Bank

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.