ICICI Bank Limited (NYSE:IBN) finished Thursday with a subtraction of -$0.24 to close at $23.40, a downside of -1.02 percent. An average of 3,710,760 shares of common stock have been traded in the last five days. There was a fall of -$0.15 in the past week, and it reached a new high 14 times over the past 12 months. The last 20 days have seen an average of 3,973,775 shares traded, while the 50-day average volume stands at 3,854,238.
IBN stock has increased by 0.99% in the last month. The company shares reached their 1-month lowest point of $22.97 on 07/11/23. With the stock rallying to its 52-week high on 07/26/23, shares of the company touched a low of $19.34 and a high of $24.80 in 52 weeks. It has reached a new high 19 times so far this year and achieved 6.90% or $1.51 in price. In spite of this, the price is down -5.65% from the 52-week high.
Valuation Metrics
ICICI Bank Limited (IBN) has a trailing price-to-earnings (P/E) ratio of 18.47. The stock’s beta is 0.89. Other valuation ratios to consider include the trailing price-to-sales (P/S) ratio at 5.08, the price-to-book (PB) ratio at 2.99.
The company’s most recent quarterly dividend payment was $0.1120 a share, representing a down of -0.36% from $0.1124 last year. Its latest decrease dividend $0.0004 reported on Wednesday July 13 2022.
Financial Health
Further, the company has a long term debt to equity ratio of 0.81 and a total debt to equity ratio of 0.81 for the quarter ending December 30. Its gross profit as reported stood at $8.82 billion compared to revenue of $15.13 billion.
Earnings Surprise
The analyst consensus anticipated ICICI Bank Limited’s latest quarter earnings to come in at $0.28 per share, but it turned out to be $0.3, a 7.10% surprise. At the end of the quarter ending December 30, ICICI Bank Limited’s stock balance sheet showed total debt was $1.83 trillion.
Technical Picture
From a technical analysis perspective, let’s take a brief look at ICICI Bank Limited (IBN) price momentum. RSI 9-day as of the close on 10 August was 35.81%, suggesting the stock is Neutral, with historical volatility in this time frame at 15.11%.
As of today, IBN’s price is $23.60 -0.64% or -$0.15 from its 5-day moving average. However, the stock’s current price level is +2.27% above the SMA50 and +6.32% above the SMA200.
The stochastic %K and %D were 11.92% and 16.29%, respectively, and the average true range (ATR) was 0.30. With the 14-day stochastic at 2.44% and the average true range at 0.29, the RSI (14) stands at 42.69%. The stock has reached -0.28 on the 9-day MACD Oscillator while the 14-day reading was at -0.49.
Analyst Ratings
Bernstein upgraded ICICI Bank Limited (NYSE: IBN) to a an Outperform rating in its most recent analyst report. Previously, the stock was rated as a Mkt perform. The consensus rating for ICICI Bank Limited (IBN) among analysts is Buy. According to current brokerage recommendations, 0 brokerage firms advise that investors sell IBN, while 3 suggest investors hold. There are 0 analysts who rate the stock as underweight. The stock is rated overweight by 1 analysts, while 37 others rate it as a “buy”.
What is IBN’s price target for the next 12 months?
Analysts predict a range of price targets between $24.81 and $32.99, with a median target of $28.84. Taking a look at these predictions, the average price target given by analysts for ICICI Bank Limited (IBN) stock is $28.81.
