Erste Group Bank Expects Stronger Earnings for ICICI Bank

ICICI Bank Limited (NYSE:IBN) – Investment analysts at Erste Group Bank lifted their FY2027 earnings estimates for shares of ICICI Bank in a research report issued on Friday, June 5th. Erste Group Bank analyst S. Lingnau now forecasts that the bank will post earnings per share of $1.66 for the year, up from their previous 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.

IBN has been the topic of several other research reports. Weiss Ratings downgraded shares of ICICI Bank from a “hold (c+)” rating to a “hold (c)” rating in a report on Friday, May 8th. Wall Street Zen upgraded shares of ICICI Bank from a “strong sell” rating to a “sell” rating in a report on Saturday, April 25th. Finally, Zacks Research downgraded shares of ICICI Bank from a “hold” rating to a “strong sell” rating in a report on Wednesday, April 15th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, ICICI Bank currently has a consensus rating of “Reduce”.

ICICI Bank Stock Performance

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

Insider Activity

In other news, Director Rakesh Jha sold 90,000 shares of the business’s stock in a transaction dated Tuesday, April 21st. The shares were sold at an average price of $14.94, for a total transaction of $1,344,600.00. Following the transaction, the director owned 140,750 shares in the company, valued at approximately $2,102,805. The trade was a 39.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Sandeep Bakhshi sold 24,999 shares of ICICI Bank stock in a transaction dated Tuesday, April 21st. The shares were sold at an average price of $14.95, for a total transaction of $373,735.05. Following the sale, the chief executive officer owned 1,071,301 shares in the company, valued at approximately $16,015,949.95. This trade represents a 2.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 159,999 shares of company stock worth $2,370,385.

Institutional Trading of ICICI Bank

Several institutional investors have recently made changes to their positions in IBN. National Bank of Canada FI boosted its position in shares of ICICI Bank by 18,147.4% during the 3rd quarter. National Bank of Canada FI now owns 4,356,752 shares of the bank’s stock valued at $131,705,000 after acquiring an additional 4,332,876 shares in the last quarter. North of South Capital LLP boosted its position in shares of ICICI Bank by 128.2% during the 4th quarter. North of South Capital LLP now owns 7,388,440 shares of the bank’s stock valued at $220,176,000 after acquiring an additional 4,150,207 shares in the last quarter. Carrhae Capital LLP acquired a new stake in shares of ICICI Bank during the 3rd quarter valued at about $120,997,000. Morgan Stanley boosted its position in shares of ICICI Bank by 8.0% during the 4th quarter. Morgan Stanley now owns 53,772,858 shares of the bank’s stock valued at $1,602,431,000 after acquiring an additional 3,974,437 shares in the last quarter. Finally, Man Group plc boosted its position in shares of ICICI Bank by 244.1% during the 2nd quarter. Man Group plc now owns 5,555,858 shares of the bank’s stock valued at $186,899,000 after acquiring an additional 3,941,439 shares in the last quarter. 18.18% of the stock is currently owned by institutional investors and hedge funds.

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.