In today’s recent session, 2,823,613 shares of the ICICI Bank Limited (NYSE:IBN) have been traded, and its beta is 1.12. Most recently the company’s share price was $15.59, and it changed around $0.11 or 0.01% from the last close, which brings the market valuation of the company to $53.81 Billion. IBN at last check was trading at a discount to its 52-week high of $18.47, offering almost -18.47% off that amount. The share price’s 52-week low was $7.66, which indicates that the recent value has risen by an impressive 50.87% since then. We note from ICICI Bank Limited’s average daily trading volume that its 10-day average is 4.04 Million shares, with the 3-month average coming to 8.54 Million.
ICICI Bank Limited stock received a consensus recommendation rating of Buy, based on a mean score of 1.3. If we narrow it down even further, the data shows that none out of 43 analysts rate the stock as a Sell; another 3 rate it as Overweight. Among the rest, no body recommended IBN as a Hold, whereas 40 deemed it a Buy, and no one rated it as Underweight. ICICI Bank Limited is expected to report earnings per share of $0.2 for the current quarter.
ICICI Bank Limited (NYSE:IBN): Trading Information Today
Instantly IBN has been showing a green trend so far today with a performance of 0.68% at the end of last trading. The performance over the last five days has remained in the red territory. The rise to weekly highs of $16.41 on Thursday, Apr 01 increased the stock’s daily price by 5%. The company’s shares are currently up 0.05% year-to-date, but still down -0.0371 over the last five days. On the other hand, ICICI Bank Limited (NYSE:IBN) is -0.08% down in the 30-day period. We can see from the shorts that 17.03 Million shares have been sold at a short interest cover period of 1.99 day (s).
The consensus price target as assigned by Wall Street analysts is $18.85, which translates to bears needing to increase their stock price by 20.91% from its current value. Analyst projections state that IBN is forecast to be at a low of $15.88 and a high of $23.3. In order for the stock price to hit the forecast high, the stock would need to surge +49.45% from its current level, while the stock would need to crash 1.86% from its current level to reach the projected low.
ICICI Bank Limited (IBN) projections and forecasts
Looking at the company’s year-over-year earnings, the past five years showed a negative earnings growth rate of 0%. ICICI Bank Limited earnings are expected to increase by 188.8% in 2021, but the outlook is negative 0% per year for the next five years.
ICICI Bank Limited (NYSE:IBN)’s Biggest Investors
Upon looking at major shareholders, it appears that insiders hold 0% of ICICI Bank Limited shares, and 19.95% of them are in the hands of institutional investors. The stock currently has a share float of 19.95%. ICICI Bank Limited stock is held by 507 institutions, with Morgan Stanley being the largest institutional investor. By Dec 30, 2020, it held 1.69% of the shares, which is about 58.51 Million shares worth $869.49 Million.
Harding Loevner LLC, with 1.48% or 51.11 Million shares worth $759.47 Million as of Dec 30, 2020, holds the second largest percentage of outstanding shares.
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Harding, Loevner Funds, Inc-International Equity Portfolio and Invesco Oppenheimer Global Fund were the top two Mutual Funds as of Jan 30, 2021. The former held 18092628 shares worth $273.2 Million, making up 0.52% of all outstanding shares. On the other hand, Invesco Oppenheimer Global Fund held roughly 11.9 Million shares worth around $179.76 Million, which represents about 0.34% of the total shares outstanding.