The Stock Of The Week: ICICI Bank Limited (IBN)

SNOW Stock
SNOW Stock

As of Wednesday close, ICICI Bank Limited’s (NYSE:IBN) stock was up $0.11, moving up 0.48 percent to $22.97. The average number of shares traded per day over the past five days has been 8,381,200 shares. 4 times new highs have been achieved over the past 5 days, with a $0.21 gain in that time frame. In the last twenty days, the average volume was 9,043,785, while in the previous 50 days, it was 8,504,542.

Since last month, IBN stock rose 0.79%. Shares of the company fell to $21.88 on 11/02/22, the lowest level in the past month. A 52-week high of $23.49 was reached on 09/14/22 after having rallying from a 52-week low of $16.36. Since the beginning of this year, IBN’s stock price has risen by 16.07% or $3.18, and marked a new high 14 times. However, the stock has declined by -2.19% since its 52-week high.

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Valuation Metrics

Right now, ICICI Bank Limited (IBN) has a P/E ratio of about 22.39. The stock’s beta is 1.00. Besides these, the trailing price-to-sales (P/S) ratio of 6.21, the price-to-book (PB) ratio of 3.34.

The latest dividend of $0.1120 per share was paid out, which is -0.36% less than last year’s $0.1124. On Wednesday July 13 2022, a $0.0004 dividend decrease was announced.

Financial Health

According to company report, the long-term debt-to-equity ratio for the quarter ending March 30 was 0.93, and the total debt-to-equity ratio was 0.93. In the year ended March 30, operating margins totaled 48.30%. Based on annual data, IBN earned $7.27 billion in gross profit and brought in $12.78 billion in revenue.

A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 11.50%. Return on equity (ROE) for the past 12 months was 16.00%.

According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. While analysts expected ICICI Bank Limited to report $0.23 quarterly earnings, the actual figure was $0.29 per share, beating the consensus estimate by 26.10%.

Technical Picture

This quick technical analysis looks at ICICI Bank Limited’s (IBN) price momentum. With a historical volatility rate of 21.63%, the RSI 9-day stood at 58.68% on 23 November.

With respect to its five-day moving average, the current ICICI Bank Limited price is up by +0.92% percent or $0.21. At present, IBN shares trade +0.44% above its 20-day simple moving average and +25.79% percent above its 100-day simple moving average. However, the stock is currently trading approximately -1.75% below its SMA50 and +7.34% above its SMA200.

Stochastic coefficient K was 63.16% and Stochastic coefficient D was 60.62%, while ATR was 0.35. Given the Stochastic reading of 65.65% for the 14-day period, the RSI (14) reading has been calculated as 57.30%. As of today, the MACD Oscillator reading stands at 0.08, while the 14-day reading stands at 0.08.

Analyst Ratings

Bernstein upgraded its rating on ICICI Bank Limited (NYSE: IBN) to an Outperform in a note to investors on July 14, 2020. The analysts firm previously had a Mkt perform rating on the stock.ICICI Bank Limited (IBN) has been rated Buy by analysts. According to 0 brokerage firms, IBN is a sell, and 0 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 1 analyst rate ICICI Bank Limited stock as buy, with 42 recommending it as overweight.

With a median target price of $26.61, the current consensus forecast for the stock is $24.19 – $30.82. Based on these forecasts, analysts predict ICICI Bank Limited (IBN) will achieve an average price target of $26.72.


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