ICICI Bank (NYSE:IBN) Share Price Passes Above 200 Day Moving Average – Here’s What Happened

ICICI Bank Limited (NYSE:IBN)’s share price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $29.14 and traded as high as $31.28. ICICI Bank shares last traded at $30.94, with a volume of 4,444,170 shares changing hands.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of ICICI Bank from a “sell” rating to a “hold” rating in a research note on Thursday, September 5th.

ICICI Bank Stock Up 0.9 %

The company has a debt-to-equity ratio of 0.74, a current ratio of 1.00 and a quick ratio of 1.00. The business’s fifty day moving average price is $30.21 and its two-hundred day moving average price is $29.18. The stock has a market capitalization of $110.10 billion, a PE ratio of 21.23, a price-to-earnings-growth ratio of 2.08 and a beta of 1.00.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Asset Dedication LLC lifted its stake in ICICI Bank by 620.0% during the 3rd quarter. Asset Dedication LLC now owns 1,008 shares of the bank’s stock valued at $30,000 after acquiring an additional 868 shares during the period. ORG Wealth Partners LLC acquired a new position in ICICI Bank during the third quarter valued at $50,000. Tsfg LLC purchased a new stake in ICICI Bank in the third quarter valued at $53,000. Hobbs Group Advisors LLC acquired a new stake in ICICI Bank during the 3rd quarter worth about $54,000. Finally, JFS Wealth Advisors LLC raised its stake in shares of ICICI Bank by 22.4% during the 3rd quarter. JFS Wealth Advisors LLC now owns 2,875 shares of the bank’s stock valued at $86,000 after buying an additional 526 shares during the last quarter. 18.18% of the stock is 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.