Saturday, June 25, 2022

Investing in ICICI Bank Limited (IBN): What You Must Know

Bernstein upgraded its ICICI Bank Limited [IBN] rating to an Outperform from a a Mkt perform in a research note published on Tuesday. A number of analysts have revised their coverage, including Morgan Stanley’s analysts, who began to cover the stock in mid January with a ‘”an Overweight”‘ rating. Jefferies also remained covering IBN and has increased its forecast on October 30, 2017 with a “Buy” recommendation from previously “Hold” rating. Macquarie revised its rating on March 20, 2017. It rated IBN as “an Outperform” which previously was an “a Neutral”.


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Price Performance Review of IBN

On Tuesday, ICICI Bank Limited [NYSE:IBN] saw its stock jump 3.45% to $18.01. On the same session, the stock had its day’s lowest price of $17.66, but rose to a high of $18.10. Over the last five days, the stock has gained 4.59%. ICICI Bank Limited shares have fallen nearly -8.99% since the year began. Nevertheless, the stocks have risen 4.59% over the past one year. While a 52-week high of $22.34 was reached on 01/13/22, a 52-week low of $16.36 was recorded on 03/07/22. SMA at 50 days reached $18.74, while 200 days put it at $19.53.

Levels Of Support And Resistance For IBN Stock

The 24-hour chart illustrates a support level at 17.75, which if violated will result in even more drops to 17.48. On the upside, there is a resistance level at 18.19. A further resistance level may holdings at 18.36. The Relative Strength Index (RSI) on the 14-day chart is 46.82, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.77, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 62.10%. Stochastics %K at 21.77% indicates the stock is a holding.

ICICI Bank Limited [IBN] – Who Are The Largest Shareholders?

In filings from Morgan Stanley Investment Managem, it is revealed that the company now owns 49,665,469 shares, or roughly 1.43% of the outstanding IBN shares. In other words, the investor’s shares have fallen by -4,563,531 from its previous 13-F filing of 54229000.0. Additionally, Harding Loevner LP decreased -0.20% of its stake after which the total value it holdings stand at $649,244,192, while Morgan Stanley & Co. Internationa added 26,392.98% of its stake to hold $645.17 million in the firm. Over the last quarter, Temasek Holdings Pte Ltd. sold -376,500 shares of ICICI Bank Limited, while GQG Partners LLC sold -23,462,248 shares. At present, Capital Research & Management Co is holding 19,082,555 shares valued at $367.34 million. Hardman Johnston Global Advisors owned 17,841,071 shares of the company at the time of its most recent 13F filing, worth $343.44 million.

According to FactSet, ICICI Bank Limited’s share price will average $25.33 in the next year, based on opinions of analysts polled by the firm. This is up nearly 45.15 percent from its previous closing price of $17.41. Analysts expect ICICI Bank Limited stock to reach the higher price of $28.69, while the lowest price estimate is $20.33. However, 42 analysts have rated IBN stock as a Buy in their predictions for 2022.

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