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We Just Learned Something New! After ICICI Bank Limited (NYSE: IBN)’s 0.73% Gain This Week

During the recent session, ICICI Bank Limited (NYSE:IBN)’s traded shares were 1.73 million, with the beta value of the company hitting 1.07. At the last check today, the stock’s price was $21.20, reflecting an intraday gain of 1.97% or $0.41. The 52-week high for the IBN share is $22.34, that puts it down -5.38 from that peak though still a striking 22.83% gain since the share price plummeted to a 52-week low of $16.36. The company’s market capitalization is $71.01B, and the average intraday trading volume over the past 10 days was 6.16 million shares, and the average trade volume was 7.41 million shares over the past three months.

ICICI Bank Limited (NYSE:IBN) trade information

ICICI Bank Limited (IBN) registered a 1.97% upside in the last session and has traded in the green over the past 5 sessions. The stock spiked 1.97% in intraday trading to $21.20 this Thursday, 08/04/22, hitting a weekly high. The stock’s 5-day price performance is 0.73%, and it has moved by 12.50% in 30 days. Based on these gigs, the overall price performance for the year is 7.55%. The short interest in ICICI Bank Limited (NYSE:IBN) is 21.97 million shares and it means that shorts have 2.64 day(s) to cover.

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The consensus price target of analysts on Wall Street is $25.09, which implies an increase of 15.5% to the stock’s current value. The extremes of the forecast give a target low and a target high price of $22.32 and $27.97 respectively. As a result, IBN is trading at a discount of -31.93% off the target high and -5.28% off the low.

ICICI Bank Limited (IBN) estimates and forecasts

Statistics show that ICICI Bank Limited has outperformed its competitors in share price, compared to the industry in which it operates. ICICI Bank Limited (IBN) shares have gone down -5.03% during the last six months, with a year-to-date growth rate more than the industry average at 17.98% against 1.00. Yet analysts are ramping up their growth forecast for the fiscal year 2022. Revenue is predicted to grow 15.80% this quarter and then jump 38.90% in the quarter after that. In the rating firms’ projections, revenue will increase 32.40% compared to the previous financial year.

An analysis of the company’s performance over the past 5 years shows that the company’s earnings grew an estimated 11.10%. While earnings are projected to return 63.70% in 2022.

IBN Dividends

ICICI Bank Limited is due to release its next quarterly earnings in September. However, it is important to remember that the dividend yield ratio is merely an indicator meant to only serve as guidance. Investors should also take the other fundamental and operational aspects into account before investing in the stock. The forward dividend ratio for ICICI Bank Limited is 0.13, with the dividend yield indicating at 0.61 percent, continuing the trend of increasing dividends in recent years.

ICICI Bank Limited (NYSE:IBN)’s Major holders

ICICI Bank Limited insiders own 0.13% of total outstanding shares while institutional holders control 19.02%, with the float percentage being 19.05%. Morgan Stanley is the largest shareholder of the company, while 589 institutions own stock in it. As of Mar 30, 2022, the company held over 85.47 million shares (or 2.46% of all shares), a total value of $1.62 billion in shares.

The next largest institutional holding, with 33.73 million shares, is of Harding Loevner LLC’s that is approximately 0.97% of outstanding shares. At the market price on Mar 30, 2022, these shares were valued at $638.79 million.

Also, the Mutual Funds coming in first place with the largest holdings of ICICI Bank Limited (IBN) shares are Harding, Loevner Funds, Inc-International Equity Portfolio and Goldman Sachs GQG Partners International Opportunities Fund. Data provided on Apr 29, 2022 indicates that Harding, Loevner Funds, Inc-International Equity Portfolio owns about 18.32 million shares. This amounts to just over 0.53 percent of the company’s overall shares, with a $348.83 million market value. The same data shows that the other fund manager holds slightly less at 12.57 million, or about 0.36% of the stock, which is worth about $239.38 million.

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