ICICI Bank (NYSE:IBN) Share Price Passes Above 200-Day Moving Average – Time to Sell?

ICICI Bank Limited (NYSE:IBN) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $29.63 and traded as high as $29.90. ICICI Bank shares last traded at $29.68, with a volume of 2,037,285 shares.

ICICI Bank Stock Down 1.3 %

The company has a quick ratio of 1.00, a current ratio of 1.00 and a debt-to-equity ratio of 0.74. The company’s 50 day moving average price is $30.40 and its 200 day moving average price is $29.62. The firm has a market capitalization of $103.29 billion, a price-to-earnings ratio of 19.91, a P/E/G ratio of 2.09 and a beta of 0.99.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of IBN. Commonwealth Equity Services LLC lifted its stake in ICICI Bank by 16.0% during the 2nd quarter. Commonwealth Equity Services LLC now owns 19,242 shares of the bank’s stock valued at $554,000 after acquiring an additional 2,660 shares during the period. Acadian Asset Management LLC purchased a new stake in ICICI Bank in the second quarter valued at $7,736,000. Ballentine Partners LLC grew its position in ICICI Bank by 11.2% during the 2nd quarter. Ballentine Partners LLC now owns 13,639 shares of the bank’s stock worth $393,000 after purchasing an additional 1,369 shares during the period. Choreo LLC purchased a new position in shares of ICICI Bank during the 2nd quarter valued at about $1,992,000. Finally, Amansa Capital PTE. LTD. raised its stake in shares of ICICI Bank by 48.9% during the 2nd quarter. Amansa Capital PTE. LTD. now owns 6,092,159 shares of the bank’s stock valued at $175,515,000 after buying an additional 2,000,000 shares during the last quarter. 18.18% of the stock is currently owned by hedge funds and other institutional investors.

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.