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

ICICI Bank Limited (NYSE:IBN) shares 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 changing hands.

ICICI Bank Stock Up 0.2 %

The company has a market cap of $100.86 billion, a P/E ratio of 20.63, a P/E/G ratio of 2.32 and a beta of 1.04. The company has a 50-day simple moving average of $28.54 and a 200 day simple moving average of $27.05. The company has a current ratio of 0.99, a quick ratio of 0.99 and a debt-to-equity ratio of 0.72.

ICICI Bank (NYSE:IBN) last posted its quarterly earnings results on Saturday, July 27th. The bank reported $0.37 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $3.05 billion. On average, equities analysts anticipate that ICICI Bank Limited will post 1.51 EPS for the current year.

ICICI Bank Increases Dividend

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Capital International Investors lifted its holdings in shares of ICICI Bank by 11.5% in the 1st quarter. Capital International Investors now owns 20,827,332 shares of the bank’s stock worth $550,050,000 after buying an additional 2,155,477 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of ICICI Bank by 3.7% in the second quarter. Dimensional Fund Advisors LP now owns 12,253,715 shares of the bank’s stock valued at $353,065,000 after acquiring an additional 441,155 shares in the last quarter. Hsbc Holdings PLC lifted its stake in ICICI Bank by 16.8% in the second quarter. Hsbc Holdings PLC now owns 8,191,311 shares of the bank’s stock worth $236,082,000 after acquiring an additional 1,180,981 shares during the period. Driehaus Capital Management LLC grew its holdings in ICICI Bank by 8.4% during the 2nd quarter. Driehaus Capital Management LLC now owns 6,364,221 shares of the bank’s stock worth $183,353,000 after acquiring an additional 490,892 shares in the last quarter. Finally, Baillie Gifford & Co. increased its position in ICICI Bank by 4.1% during the 2nd quarter. Baillie Gifford & Co. now owns 6,193,699 shares of the bank’s stock valued at $178,440,000 after purchasing an additional 243,645 shares during the period. Institutional investors own 18.18% of the company’s stock.

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.