Erste Group Bank Expects Stronger Earnings for ICICI Bank

ICICI Bank Limited (NYSE:IBN) – Investment analysts at Erste Group Bank raised their FY2027 earnings estimates for ICICI Bank in a note issued to investors on Friday, June 5th. Erste Group Bank analyst S. Lingnau now forecasts that the bank will post earnings of $1.66 per share for the year, up from their prior forecast of $1.64. The consensus estimate for ICICI Bank’s current full-year earnings is $1.66 per share. Erste Group Bank also issued estimates for ICICI Bank’s FY2028 earnings at $1.92 EPS.

A number of other brokerages have also issued reports on IBN. Zacks Research lowered shares of ICICI Bank from a “hold” rating to a “strong sell” rating in a research report on Wednesday, April 15th. Weiss Ratings lowered shares of ICICI Bank from a “hold (c+)” rating to a “hold (c)” rating in a research report on Friday, May 8th. Finally, Wall Street Zen upgraded shares of ICICI Bank from a “strong sell” rating to a “sell” rating in a research report on Saturday, April 25th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, ICICI Bank currently has an average rating of “Reduce”.

ICICI Bank Price Performance

Shares of IBN stock opened at $27.49 on Friday. ICICI Bank has a 1 year low of $25.08 and a 1 year high of $34.56. The firm’s 50 day moving average is $26.66 and its 200-day moving average is $28.60. The firm has a market capitalization of $98.53 billion, a price-to-earnings ratio of 17.40, a PEG ratio of 1.37 and a beta of 0.44. The company has a current ratio of 1.04, a quick ratio of 1.02 and a debt-to-equity ratio of 0.58.

Institutional Investors Weigh In On ICICI Bank

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Signaturefd LLC grew its holdings in shares of ICICI Bank by 0.8% during the 4th quarter. Signaturefd LLC now owns 47,843 shares of the bank’s stock valued at $1,426,000 after purchasing an additional 393 shares during the last quarter. Aprio Wealth Management LLC boosted its position in ICICI Bank by 4.1% during the 3rd quarter. Aprio Wealth Management LLC now owns 10,050 shares of the bank’s stock worth $304,000 after buying an additional 397 shares during the period. Templeton & Phillips Capital Management LLC boosted its position in ICICI Bank by 0.7% during the 4th quarter. Templeton & Phillips Capital Management LLC now owns 66,817 shares of the bank’s stock worth $1,991,000 after buying an additional 450 shares during the period. Cetera Investment Advisers boosted its position in ICICI Bank by 0.4% during the 4th quarter. Cetera Investment Advisers now owns 114,558 shares of the bank’s stock worth $3,414,000 after buying an additional 458 shares during the period. Finally, Cullen Frost Bankers Inc. boosted its position in ICICI Bank by 40.1% during the 4th quarter. Cullen Frost Bankers Inc. now owns 1,709 shares of the bank’s stock worth $51,000 after buying an additional 489 shares during the period. 18.18% of the stock is owned by institutional investors.

Insider Activity at ICICI Bank

In other ICICI Bank news, Director Rakesh Jha sold 90,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 21st. The shares were sold at an average price of $14.94, for a total value of $1,344,600.00. Following the completion of the sale, the director owned 140,750 shares of the company’s stock, valued at approximately $2,102,805. This represents a 39.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Sandeep Bakhshi sold 24,999 shares of the stock in a transaction on Tuesday, April 21st. The shares were sold at an average price of $14.95, for a total transaction of $373,735.05. Following the completion of the sale, the chief executive officer owned 1,071,301 shares of the company’s stock, valued at approximately $16,015,949.95. This represents a 2.28% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 159,999 shares of company stock worth $2,370,385 over the last 90 days.

About ICICI Bank

ICICI Bank Limited is an Indian multinational banking and financial services company that provides a broad range of products and services to retail, corporate and institutional customers. The bank traces its origins to the Industrial Credit and Investment Corporation of India, founded in 1955, and was converted into a commercial bank during the 1990s as part of its evolution into a full-service financial institution. It is one of India’s largest private-sector banks and is listed in the United States as an American depositary receipt under the ticker IBN.

The bank’s core activities include retail banking (deposit accounts, consumer loans, mortgages, credit cards and payments), corporate and commercial banking (working capital, term lending, trade finance and cash management), and treasury operations.