ICICI Bank Ltd. ADR [IBN] Stock trading around $24.22 per share: What’s Next?

ICICI Bank Ltd. ADR [NYSE: IBN] gained 0.37% or 0.09 points to close at $24.22 with a heavy trading volume of 10156939 shares. The company report on October 24, 2023 at 2:00 AM that ICICI Bank Canada launches ‘Money2India (Canada)’ mobile banking app.

The app enables instant money transfer from any bank in Canada to any bank in India.

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Customers of other banks can also transfer money to India using this app.

The daily chart for IBN points out that the company has recorded -0.70% loss over the past six months.

If we look at the average trading volume of 6.31M shares, IBN reached to a volume of 10156939 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 Ltd. ADR [IBN]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for IBN shares is $29.51 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 1.13. 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 Ltd. ADR shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on July 14, 2020.

The Average True Range (ATR) for ICICI Bank Ltd. ADR is set at 0.43, with the Price to Sales ratio for IBN stock in the period of the last 12 months amounting to 3.15. The Price to Book ratio for the last quarter was 2.90.

Trading performance analysis for IBN stock

ICICI Bank Ltd. ADR [IBN] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -1.02. With this latest performance, IBN shares gained by 0.83% in over the last four-week period, additionally sinking by -0.70% over the last 6 months – not to mention a rise of 16.11% 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 54.69, with the RSI for the last a single of trading hit 55.73, and the three-weeks RSI is set at 54.40 for ICICI Bank Ltd. ADR [IBN]. The present Moving Average for the last 50 days of trading for this stock 23.63, while it was recorded at 24.11 for the last single week of trading, and 23.19 for the last 200 days.

ICICI Bank Ltd. ADR [IBN]: A deeper dive into fundamental analysis

ICICI Bank Ltd. ADR’s liquidity data is similarly interesting compelling, with a Current Ratio set at 0.22.

ICICI Bank Ltd. ADR [IBN]: An earnings per share (EPS) analysis

With the latest financial reports released by the company, ICICI Bank Ltd. ADR posted 0.3/share EPS, while the average EPS was predicted by analysts to be reported at 0.28/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 7.10%. 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. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for ICICI Bank Ltd. ADR go to 21.30%.

An analysis of Institutional ownership at ICICI Bank Ltd. ADR [IBN]

The top three institutional holders of IBN stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in IBN stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in IBN stock with ownership which is approximately 5.8325%.