ICICI Bank Limited [IBN] Stock trading around $17.24 per share: What’s Next?

ICICI Bank Limited [NYSE: IBN] loss -1.71% or -0.3 points to close at $17.24 with a heavy trading volume of 5035354 shares. The company report on December 21, 2020 that ICICI Bank Canada Visa* Debit Card launched.

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The card enables customers to shop online and at merchant outlets across the world on Visa network.

Allows quick contactless payments at PoS machines across the country.

It opened the trading session at $17.32, the shares rose to $17.36 and dropped to $17.16, the range by which the price of stock traded the whole day. The daily chart for IBN points out that the company has recorded 20.90% gains over the past six months. However, it is still -91.77% lower than its most recent low trading price.

If we look at the average trading volume of 6.22M shares, IBN reached to a volume of 5035354 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here is what top equities market gurus are saying about ICICI Bank Limited [IBN]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for IBN shares is $21.77 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on IBN stock is a recommendation set at 1.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Bernstein have made an estimate for ICICI Bank Limited shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on July 14, 2020. The new note on the price target was released on January 16, 2018, representing the official price target for ICICI Bank Limited stock.

The Average True Range (ATR) for ICICI Bank Limited is set at 0.26, with the Price to Sales ratio for IBN stock in the period of the last 12 months amounting to 4.86. The Price to Book ratio for the last quarter was 2.90, with the Price to Cash per share for the same quarter was set at 5.90.

Trading performance analysis for IBN stock

ICICI Bank Limited [IBN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 1.17. With this latest performance, IBN shares dropped by -4.28% in over the last four-week period, additionally plugging by 20.90% over the last 6 months – not to mention a rise of 89.04% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for IBN stock in for the last two-week period is set at 49.08, with the RSI for the last a single of trading hit 46.89, and the three-weeks RSI is set at 50.98 for ICICI Bank Limited [IBN]. The present Moving Average for the last 50 days of trading for this stock 16.96, while it was recorded at 17.28 for the last single week of trading, and 14.80 for the last 200 days.

ICICI Bank Limited [IBN]: A deeper dive into fundamental analysis

Operating Margin for any stock indicates how profitable investing would be, and ICICI Bank Limited [IBN] shares currently have an operating margin of +16.13. ICICI Bank Limited’s Net Margin is presently recorded at +11.40.

Return on Total Capital for IBN is now 5.56, given the latest momentum, and Return on Invested Capital for the company is 4.03. Return on Equity for this stock inclined to 13.11, with Return on Assets sitting at 1.24. When it comes to the capital structure of this company, ICICI Bank Limited [IBN] has a Total Debt to Total Equity ratio set at 91.31. Additionally, IBN Total Debt to Total Capital is recorded at 47.73, with Total Debt to Total Assets ending up at 9.14. Long-Term Debt to Equity for the company is recorded at 91.31, with the Long-Term Debt to Total Capital now at 47.73.

ICICI Bank Limited [IBN]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, ICICI Bank Limited posted 0.13/share EPS, while the average EPS was predicted by analysts to be reported at 0.06/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 116.70%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for IBN.

An analysis of insider ownership at ICICI Bank Limited [IBN]

There are presently around $12,017 million, or 20.90% of IBN stock, in the hands of institutional investors. The top three institutional holders of IBN stocks are: MORGAN STANLEY with ownership of 60,566,867, which is approximately 3.512% of the company’s market cap and around 62.40% of the total institutional ownership; LONE PINE CAPITAL LLC, holding 43,155,826 shares of the stock with an approximate value of $744.01 million in IBN stocks shares; and INVESCO LTD., currently with $653.96 million in IBN stock with ownership of nearly -5.462% of the company’s market capitalization.

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Positions in ICICI Bank Limited stocks held by institutional investors increased at the end of April and at the time of the April reporting period, where 207 institutional holders increased their position in ICICI Bank Limited [NYSE:IBN] by around 97,384,090 shares. Additionally, 155 investors decreased positions by around 61,899,455 shares, while 53 investors held positions by with 537,771,415 shares. The mentioned changes placed institutional holdings at 697,054,960 shares, according to the latest SEC report filing. IBN stock had 63 new institutional investments in for a total of 58,218,786 shares, while 39 institutional investors sold positions of 5,567,349 shares during the same period.

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