ICICI Bank (NYSE:IBN) Stock Crosses Above 200 Day Moving Average – Should You Sell?

ICICI Bank Limited (NYSE:IBN) crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $28.66 and traded as high as $29.66. ICICI Bank shares last traded at $29.46, with a volume of 2,017,705 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded ICICI Bank from a “sell” rating to a “hold” rating in a report on Thursday, September 5th.

ICICI Bank Trading Down 0.6 %

The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.00 and a current ratio of 1.00. The company has a market capitalization of $103.82 billion, a P/E ratio of 20.04, a PEG ratio of 1.97 and a beta of 1.02. The company’s fifty day simple moving average is $29.96 and its 200-day simple moving average is $28.68.

Institutional Trading of ICICI Bank

Hedge funds have recently bought and sold shares of the stock. Fifth Third Bancorp lifted its stake in shares of ICICI Bank by 0.6% during the 2nd quarter. Fifth Third Bancorp now owns 65,137 shares of the bank’s stock worth $1,877,000 after purchasing an additional 361 shares during the last quarter. Continuum Advisory LLC boosted its holdings in shares of ICICI Bank by 0.6% in the 3rd quarter. Continuum Advisory LLC now owns 71,856 shares of the bank’s stock valued at $2,129,000 after buying an additional 404 shares in the last quarter. CWM LLC grew its position in shares of ICICI Bank by 4.7% in the 3rd quarter. CWM LLC now owns 9,371 shares of the bank’s stock worth $280,000 after buying an additional 420 shares during the last quarter. RMR Wealth Builders raised its stake in shares of ICICI Bank by 2.5% during the 2nd quarter. RMR Wealth Builders now owns 20,588 shares of the bank’s stock worth $593,000 after acquiring an additional 500 shares in the last quarter. Finally, JFS Wealth Advisors LLC lifted its position in ICICI Bank by 22.4% during the third quarter. JFS Wealth Advisors LLC now owns 2,875 shares of the bank’s stock valued at $86,000 after acquiring an additional 526 shares during the last quarter. Hedge funds and other institutional investors own 18.18% of the company’s stock.

ICICI Bank Company Profile

ICICI Bank Limited provides various banking products and services in India and internationally. It operates through Retail Banking, Wholesale Banking, Treasury, Other Banking, Life Insurance, and Others segments. The company offers savings, salary, pension, current, and other accounts; and time, fixed, recurring, and security deposits services.