As of Wednesday close, ICICI Bank Limited’s (NYSE:IBN) stock was down -$0.28, moving down -1.18 percent to $23.35. The average number of shares traded per day over the past five days has been 3,290,720 shares. 2 times new highs have been achieved over the past 5 days, with a -$0.23 fall in that time frame. In the last twenty days, the average volume was 3,834,310, while in the previous 50 days, it was 3,841,640.
Since last month, IBN stock retreated -4.69%. Shares of the company fell to $22.78 on 08/15/23, the lowest level in the past month. A 52-week high of $24.80 was reached on 07/26/23 after having rallying from a 52-week low of $19.34. Since the beginning of this year, IBN’s stock price has risen by 6.67% or $1.46, and marked a new high 19 times. However, the stock has declined by -5.85% since its 52-week high.
Valuation Metrics
Right now, ICICI Bank Limited (IBN) has a P/E ratio of about 18.40. The stock’s beta is 0.89. Besides these, the trailing price-to-sales (P/S) ratio of 5.12, the price-to-book (PB) ratio of 2.98.
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 June 29 was 0.81, and the total debt-to-equity ratio was 0.81. In the year ended June 29, operating margins totaled 52.30%. Based on annual data, IBN earned $8.82 billion in gross profit and brought in $15.13 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 13.50%. Return on equity (ROE) for the past 12 months was 17.80%.
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 $0.31 quarterly earnings, the actual figure was $0.18 per share, beating the consensus estimate by -41.90%.
Technical Picture
This quick technical analysis looks at ICICI Bank Limited’s (IBN) price momentum. With a historical volatility rate of 19.30%, the RSI 9-day stood at 48.51% on 30 August.
With respect to its five-day moving average, the current ICICI Bank Limited price is down by -0.98% percent or -$0.23. At present, IBN shares trade -2.79% below its 20-day simple moving average and +7.60% percent above its 100-day simple moving average. However, the stock is currently trading approximately +3.23% above its SMA50 and +0.17% above its SMA200.
Stochastic coefficient K was 76.57% and Stochastic coefficient D was 75.84%, while ATR was 0.28. Given the Stochastic reading of 56.44% for the 14-day period, the RSI (14) reading has been calculated as 48.41%. As of today, the MACD Oscillator reading stands at 0.23, while the 14-day reading stands at 0.36.
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 3 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 38 recommending it as overweight.
With a median target price of $28.84, the current consensus forecast for the stock is $24.81 – $32.99. Based on these forecasts, analysts predict ICICI Bank Limited (IBN) will achieve an average price target of $28.78.
