ICICI Bank Limited (NYSE:IBN)’s traded shares stood at 1,902,993 during the last session, with the company’s beta value hitting 1.29. At the close of trading, the stock’s price was $12.98, to imply a decline of -0.35% or -$0.05 in intraday trading. The IBN share’s 52-week high remains $15.42, putting it -18.8% down since that peak but still an impressive +47.15% since price per share fell to its 52-week low of $6.86. The company has a valuation of $45.04 Billion, with an average of 9.17 Million shares in intraday trading volume over the past 10 days and average of 7.8 Million shares over the past 3 months.
Analysts have given a consensus recommendation of Buy for ICICI Bank Limited (IBN), translating to a mean rating of 1.3. Of 43 analyst(s) looking at the stock, none analyst(s) give IBN a Sell rating. 4 of those analysts rate the stock as Overweight while no one advise Hold as 39 recommend it as a Buy. None analyst(s) have given it an Underweight rating. Estimates put the company’s earnings per share at $0.17.
ICICI Bank Limited (NYSE:IBN) trade information
After registering a -0.35% downside on the day, ICICI Bank Limited (IBN) has traded red over the past five days. The stock hit a weekly high of $13.65- this Wednesday, Nov 18, jumping 4.84% in its intraday price action. The 5-day price performance for the stock is -1.44%, and 14.15% over 30 days. With these gigs, the year-to-date price performance is -13.92%. Short interest in ICICI Bank Limited (NYSE:IBN) saw shorts transact 16.1 Million shares and set a 2.06 days time to cover.
Analysts on Wall Street suggest a consensus price target of $13.81, implying an increase of 6.39% to the stock’s current value. The extremes give us $11.24 and $17.47 for target low and target high price respectively. As such, IBN is trading +34.59% off suggested target high and -13.41% from its likely low.
ICICI Bank Limited (IBN) estimates and forecasts
Looking at statistics comparing ICICI Bank Limited share performance against respective industry, we note that the company has outperformed competitors. ICICI Bank Limited (IBN) shares are +67.91% up over the last 6 months, with its year-to-date growth rate higher than industry average at 63.64% against -27.2%. But the company is intensifying its growth estimates for the 2020 fiscal year. Revenue is forecast to grow 240% this quarter before falling -35% for the next one. The company projects its revenue will grow 34.7% compared to the previous financial year.
An assessment of the company’s 5-year growth patterns shows that annual earnings fell an estimated 0% for the past 5-year period. While 2020 is set for a 188.8% return in earnings, projections for the next 5 years are at 0% annually.
ICICI Bank Limited (NYSE:IBN)’s Major holders
ICICI Bank Limited insiders hold 0% of total outstanding shares, with institutional holders owning 18.45% of the shares at 18.45% float percentage. In total, 465 institutions holds shares in the company, led by FMR, LLC. As of Sep 29 this year, the company held over 54.03 Million shares (or 1.57% of shares), all amounting to roughly $531.07 Million.
The next major institution holding the largest number of shares is Harding Loevner LLC with 51.34 Million shares, or about 1.49% of shares outstanding. As of the market price on 44103, these shares were worth $504.69 Million.
We also have Fidelity Series Emerging Markets Opportunities Fund and Harding, Loevner Funds, Inc-International Equity Portfolio as the top two Mutual Funds with the largest holdings of the ICICI Bank Limited (IBN) shares. Going by data provided on 44042, Fidelity Series Emerging Markets Opportunities Fund holds roughly 37,625,607 shares. This is just over 1.09% of the total shares, with a market valuation of $353.3 Million. Data from the same date shows that the other fund manager holds a little less at 17.57 Million, or 0.51% of the shares, all valued at about $164.94 Million.