ICICI Bank Limited (NYSE:IBN) has a beta value of 1.19 and has seen 1,447,706 shares traded in the recent trading session. The company, currently valued at $35.18 Billion, closed the recent trade at $10.28 per share which meant it gained $0.11 on the day or 1.08% during that session. The IBN stock price is -50% off its 52-week high price of $15.42 and 33.27% above the 52-week low of $6.86. If we look at the company’s 10-day average daily trading volume, we find that it stood at 7.28 Million shares traded. The 3-month trading volume is 7.51 Million shares.
The consensus among analysts is that ICICI Bank Limited (IBN) is a Buy stock at the moment, with a recommendation rating of 1.5. None of the analysts rate the stock as a Sell, while 4 rate it as Overweight. None out of 46 have rated it as a Hold, with 42 advising it as a Buy. None have rated the stock as Underweight. The expected earnings per share for the stock is $0.17.
ICICI Bank Limited (NYSE:IBN) trade information
Sporting 1.08% in the green today, the stock has traded in the green over the last five days, with the highest price hit on Thursday, Sep 10 when the IBN stock price touched $10.32- or saw a rise of 0.48%. Year-to-date, ICICI Bank Limited shares have moved -31.94%, while the 5-day performance has seen it change 0.88%. Over the past 30 days, the shares of ICICI Bank Limited (NYSE:IBN) have changed 5.23%. Short interest in the company has seen 17.79 Million shares shorted with days to cover at 2.37.
Wall Street analysts have a consensus price target for the stock at $12.5, which means that the shares’ value could jump 21.6% from current levels. The projected low price target is $11.09 while the price target rests at a high of $14.28. In that case, then, we find that the current price level is +38.91% off the targeted high while a plunge would see the stock lose 7.88% from current levels.
ICICI Bank Limited (IBN) estimates and forecasts
Figures show that ICICI Bank Limited shares have outperformed across the wider relevant industry. The company’s shares have gained +2.01% over the past 6 months, with this year growth rate of 39.39%, compared to -28.5% for the industry. Other than that, the company has, however, increased its growth outlook for the 2020 fiscal year revenue. Growth estimates for the current quarter are 240% and -65% for the next quarter. Revenue growth from the last financial year stood is estimated to be +37.1%.
Earnings growth for 2020 is a modest +188.8%.
ICICI Bank Limited (NYSE:IBN)’s Major holders
Insiders own 0.01% of the company shares, while shares held by institutions stand at 19.9% with a share float percentage of 19.91%. Investors are also buoyed by the number of investors in a company, with ICICI Bank Limited having a total of 511 institutions that hold shares in the company. The top two institutional holders are Harding Loevner LLC with over 50.74 Million shares worth more than $471.36 Million. As of June 29, 2020, Harding Loevner LLC held 1.47% of shares outstanding.
The other major institutional holder is FMR, LLC, with the holding of over 48.89 Million shares as of June 29, 2020. The firm’s total holdings are worth over $454.21 Million and represent 1.42% of shares outstanding.
Also the top two Mutual Funds that are holding company’s shares are Fidelity Series Emerging Markets Opportunities Fund and Harding, Loevner Funds, Inc-International Equity Portfolio. As of June 29, 2020, the former fund manager holds about 1.06% shares in the company for having 36506807 shares of worth $339.15 Million while later fund manager owns 18.57 Million shares of worth $181.29 Million as of April 29, 2020, which makes it owner of about 0.54% of company’s outstanding stock.