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How Is ICICI Bank Limited.(NYSE: IBN) Is Expected To Perform In The Next Few Months?

ICICI Bank Limited (NYSE:IBN) has a beta value of 1.05 and has seen 5.91 million shares traded in the last trading session. The company, currently valued at $81.34B, closed the last trade at $22.98 per share which meant it gained $0.08 on the day or 0.35% during that session. The IBN stock price is -2.22% off its 52-week high price of $23.49 and 28.81% above the 52-week low of $16.36. If we look at the company’s 10-day average daily trading volume, we find that it stood at 10.22 million shares traded. The 3-month trading volume is 7.56 million shares.

ICICI Bank Limited (NYSE:IBN) trade information

Sporting 0.35% in the green in last session, the stock has traded in the green over the last five days, with the highest price hit on Tuesday, 09/20/22 when the IBN stock price touched $22.98 or saw a rise of 2.17%. Year-to-date, ICICI Bank Limited shares have moved 16.12%, while the 5-day performance has seen it change 0.79%. Over the past 30 days, the shares of ICICI Bank Limited (NYSE:IBN) have changed 5.22%. Short interest in the company has seen 21.97 million shares shorted with days to cover at 2.64.

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Wall Street analysts have a consensus price target for the stock at $25.61, which means that the shares’ value could jump 10.27% from current levels. The projected low price target is $23.36 while the price target rests at a high of $30.66. In that case, then, we find that the current price level is -33.42% off the targeted high while a plunge would see the stock gain -1.65% 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 23.09% over the past 6 months, with this year growth rate of 19.10%, compared to 3.10% for the industry. Other than that, the company has, however, increased its growth outlook for the 2022 fiscal year revenue. Growth estimates for the current quarter are 15.80% and 38.90% for the next quarter. Revenue growth from the last financial year stood is estimated to be 32.40%.

If we evaluate the company’s growth over the last 5-year and for the next 5-year period, we find that annual earnings growth was 17.50% over the past 5 years. Earnings growth for 2022 is a modest 32.10% while over the next 5 years, the company’s earnings are expected to increase by 20.50%.

IBN Dividends

ICICI Bank Limited is expected to release its next earnings report in October this year, and investors are excited at the prospect of better dividends despite the company’s debt issue. The forward dividend is 0.13 at a share yield of 0.55%. The company’s dividend yield has gone up over the past 12 months.

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

Insiders own 0.13% of the company shares, while shares held by institutions stand at 19.02% with a share float percentage of 19.05%. Investors are also buoyed by the number of investors in a company, with ICICI Bank Limited having a total of 589 institutions that hold shares in the company. The top two institutional holders are Morgan Stanley with over 85.47 million shares worth more than $1.62 billion. As of Mar 30, 2022, Morgan Stanley held 2.46% of shares outstanding.

The other major institutional holder is Harding Loevner LLC, with the holding of over 33.73 million shares as of Mar 30, 2022. The firm’s total holdings are worth over $638.79 million and represent 0.97% of shares outstanding.

Also the top two Mutual Funds that are holding company’s shares are Harding, Loevner Funds, Inc-International Equity Portfolio and Goldman Sachs GQG Partners International Opportunities Fund. As of Apr 29, 2022, the former fund manager holds about 0.53% shares in the company for having 18.32 million shares of worth $348.83 million while later fund manager owns 12.57 million shares of worth $239.38 million as of Apr 29, 2022, which makes it owner of about 0.36% of company’s outstanding stock.

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