In the latest trading session, 2.44 million ICICI Bank Ltd. ADR (NYSE:IBN) shares changed hands as the company’s beta touched 1.02. With the company’s most recent per share price at $25.91 changing hands around $0.01 or 0.02% at last look, the market valuation stands at $90.95B. IBN’s current price is a discount, trading about -2.89% off its 52-week high of $26.66. The share price had its 52-week low at $20.54, which suggests the last value was 20.73% up since then. When we look at ICICI Bank Ltd. ADR’s average trading volume, we note the 10-day average is 4.85 million shares, with the 3-month average coming to 6.14 million.
ICICI Bank Ltd. ADR (NYSE:IBN) trade information
Instantly IBN is in green as seen in intraday trades today. With action -1.05%, the performance over the past five days has been red. The jump to weekly highs of 26.21 added 0.02% to the stock’s daily price. The company’s shares are showing year-to-date upside of 8.66%, with the 5-day performance at -1.05% in the red. However, in the 30-day time frame, ICICI Bank Ltd. ADR (NYSE:IBN) is 1.27% up. Looking at the short shares, we see there were 27.0 million shares sold at short interest cover period of 3.31 days.
ICICI Bank Ltd. ADR (IBN) estimates and forecasts
Data shows that the ICICI Bank Ltd. ADR share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 13.92% over the past 6 months, a 24.11% in annual growth rate that is considerably higher than the industry average of 0.90%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for ICICI Bank Ltd. ADR will rise 10.00%, while the growth in revenue is estimated to hit -2.80% for the next quarter. Year-over-year growth is forecast to reach -30.60% down from the last financial year.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 45.49%. The 2024 estimates are for ICICI Bank Ltd. ADR earnings to increase by 23.00%, but the outlook for the next 5-year period is at 21.30% per year.
IBN Dividends
ICICI Bank Ltd. ADR is expected to release its next quarterly earnings report in April. The 0.75% annual yield figure for the share gives it an annual dividend of 0.19. It is important to note, however, that the 0.75% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision.
ICICI Bank Ltd. ADR (NYSE:IBN)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.19% of ICICI Bank Ltd. ADR shares while 19.52% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 19.56%. There are 19.52% institutions holding the ICICI Bank Ltd. ADR stock share, with WCM Investment Management, LLC the top institutional holder. As of Sep 29, 2023, the company held 2.01% of the shares, roughly 70.43 million IBN shares worth $1.63 billion.
GQG Partners LLC holds the second largest percentage of outstanding shares, with 1.83% or 63.99 million shares worth $1.48 billion as of Jun 29, 2023.
Among Mutual Funds, the top two as of Jul 30, 2023 were Goldman Sachs GQG Partners International Opportunities Fund and Investment Managers Ser Tr-WCM Focused International Growth Fd. With 28.9 million shares estimated at $709.96 million under it, the former controlled 0.83% of total outstanding shares. On the other hand, Investment Managers Ser Tr-WCM Focused International Growth Fd held about 0.57% of the shares, roughly 19.9 million shares worth around $459.34 million.
