Why ICICI Bank Ltd. ADR (IBN) Stock Could See Much Higher Prices Ahead

ICICI Bank Ltd. ADR (NYSE: IBN) is 1.47% higher on its value in year-to-date trading and has touched a low of $19.34 and a high of $25.12 in the current 52-week trading range. The question becomes, what are the chances the stock will continue to grow shareholders’ wealth in the market. Here’s what analysts think will happen to its price in the coming time. The IBN stock was last observed hovering at around $23.58 in the last trading session, with the day’s gains setting it 0.61%.

Currently trading at $24.19, the stock is 0.17% and 0.84% above its SMA20 and SMA50 respectively. However, with a daily trading volume of 7.36 million and changing 2.59% at the moment leaves the stock 3.90% off its SMA200. IBN registered 16.07% gain for a year compared to 6-month gain of 3.38%.

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The stock witnessed a 0.96% loss in the last 1 month and extending the period to 3 months gives it a 7.37%, and is -1.67% down over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 1.04% over the week and 1.42% over the month.

ICICI Bank Ltd. ADR (IBN) has around Aug 08 2023 employees, a market worth around $84.87B and $26.97B in sales. Current P/E ratio is 16.80 and Fwd P/E is 16.29. Profit margin for the company is 19.05%. Distance from 52-week low is 25.08% and -3.70% from its 52-week high. The company has generated returns on investments over the last 12 months (9.61%).

ICICI Bank Ltd. ADR quarterly earnings per share for the current quarter are estimated at $0.33.The EPS is expected to grow by 22.97% this year, but quarterly earnings will post 33.60% year-over-year.

ICICI Bank Ltd. ADR (IBN) Top Institutional Holders

696 institutions hold shares in ICICI Bank Ltd. ADR (IBN), with institutional investors hold 19.45% of the company’s shares. The shares outstanding are 3.51B, and float is at 3.50B with Short Float at 0.60%. Institutions hold 19.41% of the Float.

The top institutional shareholder in the company is WCM Investment Management, LLC with over 70.43 million shares valued at $1.63 billion. The investor’s holdings represent 2.01% of the IBN Shares outstanding. As of Jun 29, 2023, the second largest holder is GQG Partners LLC with 63.99 million shares valued at $1.48 billion to account for 1.83% of the shares outstanding. The other top investors are Morgan Stanley which holds 39.34 million shares representing 1.12% and valued at over $907.96 million, while Temasek Holdings (Private) Limited holds 0.72% of the shares totaling 25.22 million with a market value of $582.01 million.