ICICI Bank (NYSE:IBN) Shares Cross Above Two Hundred Day Moving Average – Here’s What Happened

ICICI Bank Limited (NYSE:IBN) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $29.30 and traded as high as $30.34. ICICI Bank shares last traded at $30.30, with a volume of 3,197,641 shares trading hands.

Analyst Upgrades and Downgrades

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

ICICI Bank Trading Up 0.8 %

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 firm has a market cap of $106.91 billion, a PE ratio of 20.61, a price-to-earnings-growth ratio of 2.08 and a beta of 1.00. The company’s 50 day moving average price is $30.36 and its 200 day moving average price is $29.33.

Hedge Funds Weigh In On ICICI Bank

Several hedge funds and other institutional investors have recently added to or reduced their stakes in IBN. Asset Dedication LLC raised its stake in shares of ICICI Bank by 620.0% in the third quarter. Asset Dedication LLC now owns 1,008 shares of the bank’s stock valued at $30,000 after acquiring an additional 868 shares in the last quarter. ORG Wealth Partners LLC purchased a new stake in ICICI Bank during the 3rd quarter worth about $50,000. Tsfg LLC purchased a new stake in ICICI Bank during the 3rd quarter worth about $53,000. Hobbs Group Advisors LLC acquired a new stake in ICICI Bank in the 3rd quarter valued at about $54,000. Finally, JFS Wealth Advisors LLC grew its position in shares of ICICI Bank by 22.4% during the third quarter. JFS Wealth Advisors LLC now owns 2,875 shares of the bank’s stock worth $86,000 after buying an additional 526 shares in the last quarter. Hedge funds and other institutional investors own 18.18% of the company’s stock.

ICICI Bank Company Profile

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.