In today’s recent session, 2.68 million shares of the ICICI Bank Ltd. ADR (NYSE:IBN) have been traded, and its beta is 1.02. Most recently the company’s share price was $26.12, and it changed around -$0.29 or -1.10% from the last close, which brings the market valuation of the company to $91.71B. IBN at last check was trading at a discount to its 52-week high of $26.66, offering almost -2.07% off that amount. The share price’s 52-week low was $20.86, which indicates that the recent value has risen by an impressive 20.14% since then. We note from ICICI Bank Ltd. ADR’s average daily trading volume that its 10-day average is 4.88 million shares, with the 3-month average coming to 6.21 million.
ICICI Bank Ltd. ADR stock received a consensus recommendation rating of Buy, based on a mean score of 1.19. If we narrow it down even further, the data shows that 0 out of 4 analysts rate the stock as a Sell; another 2 rate it as Overweight. Among the rest, 0 recommended IBN as a Hold, whereas 2 deemed it a Buy, and 0 rated it as Underweight. ICICI Bank Ltd. ADR is expected to report earnings per share of $0.33 for the current quarter.
ICICI Bank Ltd. ADR (NYSE:IBN) trade information
Instantly IBN has been showing red trend so far today with a performance of -1.10% on intraday trading today. The performance over the last five days has remained in the green territory. The company’s shares are currently up 9.56% year-to-date, but still up 0.46% over the last five days. On the other hand, ICICI Bank Ltd. ADR (NYSE:IBN) is 1.99% up in the 30-day period. We can see from the shorts that 25.64 million shares have been sold at a short interest cover period of 4.58 day(s).
ICICI Bank Ltd. ADR (IBN) estimates and forecasts
ICICI Bank Ltd. ADR share prices are performing particularly well compared to other companies within the same industry. As is evident from the statistics, the company’s shares have risen 14.01 percent over the past six months and at a 24.11% annual growth rate that is well above the industry average of 0.90%. Moreover, analysts have decided to roll up on their fiscal year 2024 revenue estimates. The rating firms predict that it will gain 10.00% in revenue this quarter, and will report a decrease of -2.80% in the next quarter. The year-over-year growth rate is expected to be -30.80%, down from the previous year.
Looking at the company’s year-over-year earnings, the past five years showed a positive earnings growth rate of 45.49%. ICICI Bank Ltd. ADR earnings are expected to increase by 22.98% in 2024, but the outlook is positive 21.30% per year for the next five years.
IBN Dividends
ICICI Bank Ltd. ADR’s next quarterly earnings report is expected to be released in May. The annual dividend yield of the stock is 0.74 percent and its annual dividend per share was 0.19. It is important to note, however, that the 0.74% dividend yield ratio should be regarded as a guide only, as many other factors should be taken into consideration before making any investment decision.
ICICI Bank Ltd. ADR (NYSE:IBN)’s Major holders
Upon looking at major shareholders, it appears that insiders hold 0.19% of ICICI Bank Ltd. ADR shares, and 19.55% of them are in the hands of institutional investors. The stock currently has a share float of 19.58%. ICICI Bank Ltd. ADR stock is held by 736 institutions, with WCM Investment Management, LLC being the largest institutional investor. By Sep 29, 2023, it held 2.01% of the shares, which is about 70.43 million shares worth $1.63 billion.
GQG Partners LLC, with 1.83% or 63.99 million shares worth $1.48 billion as of Jun 29, 2023, holds the second largest percentage of outstanding shares.
Goldman Sachs GQG Partners International Opportunities Fund and Investment Managers Ser Tr-WCM Focused International Growth Fd were the top two Mutual Funds as of Jul 30, 2023. The former held 28.9 million shares worth $709.96 million, making up 0.83% of all outstanding shares. On the other hand, Investment Managers Ser Tr-WCM Focused International Growth Fd held roughly 19.9 million shares worth around $459.34 million, which represents about 0.57% of the total shares outstanding.
