Equities research analysts forecast that ICICI Bank (NYSE:IBN) will post $0.12 earnings per share (EPS) for the current fiscal quarter, according to Zacks. Zero analysts have provided estimates for ICICI Bank’s earnings. ICICI Bank posted earnings per share of $0.09 in the same quarter last year, which suggests a positive year over year growth rate of 33.3%. The company is expected to issue its next earnings results on Wednesday, May 2nd.
According to Zacks, analysts expect that ICICI Bank will report full-year earnings of $0.34 per share for the current financial year, with EPS estimates ranging from $0.32 to $0.36. For the next year, analysts expect that the firm will report earnings of $0.55 per share, with EPS estimates ranging from $0.41 to $0.65. Zacks’ earnings per share averages are an average based on a survey of sell-side research firms that follow ICICI Bank.
IBN has been the subject of several recent research reports. Morgan Stanley initiated coverage on ICICI Bank in a research report on Tuesday, January 16th. They set an “overweight” rating for the company. Zacks Investment Research raised ICICI Bank from a “hold” rating to a “buy” rating and set a $11.00 price objective for the company in a research report on Monday, January 8th. Finally, ValuEngine lowered ICICI Bank from a “buy” rating to a “hold” rating in a research report on Wednesday, March 7th. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $11.00.
Shares of ICICI Bank stock opened at $8.85 on Tuesday. The firm has a market cap of $26,973.15, a price-to-earnings ratio of 19.67, a PEG ratio of 0.74 and a beta of 1.89. ICICI Bank has a 12 month low of $7.48 and a 12 month high of $11.26.
Several institutional investors and hedge funds have recently bought and sold shares of the company. Daiwa SB Investments Ltd. raised its position in shares of ICICI Bank by 52.7% in the 4th quarter. Daiwa SB Investments Ltd. now owns 23,180 shares of the bank’s stock worth $226,000 after purchasing an additional 8,000 shares during the last quarter. US Bancorp DE raised its position in shares of ICICI Bank by 1.7% in the 4th quarter. US Bancorp DE now owns 561,027 shares of the bank’s stock worth $5,458,000 after purchasing an additional 9,144 shares during the last quarter. Sumitomo Life Insurance Co. raised its position in shares of ICICI Bank by 10.7% in the 4th quarter. Sumitomo Life Insurance Co. now owns 97,390 shares of the bank’s stock worth $948,000 after purchasing an additional 9,400 shares during the last quarter. Suntrust Banks Inc. raised its position in shares of ICICI Bank by 45.8% in the 4th quarter. Suntrust Banks Inc. now owns 31,291 shares of the bank’s stock worth $304,000 after purchasing an additional 9,834 shares during the last quarter. Finally, Guggenheim Capital LLC raised its position in shares of ICICI Bank by 4.5% in the 4th quarter. Guggenheim Capital LLC now owns 251,961 shares of the bank’s stock worth $2,451,000 after purchasing an additional 10,863 shares during the last quarter. 21.81% of the stock is owned by hedge funds and other institutional investors.
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About ICICI Bank
ICICI Bank Limited, together with its subsidiaries, provides banking and financial services in India and internationally. It operates through Retail Banking, Wholesale Banking, Treasury, Other Banking, Life Insurance, General Insurance, and Others segments. The company offers savings, salary, pension, current, other accounts; and fixed, recurring, and security deposits.
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