ICICI Bank Ltd (NYSE:IBN) shares gapped up prior to trading on Thursday . The stock had previously closed at $10.76, but opened at $10.59. ICICI Bank shares last traded at $10.23, with a volume of 444532 shares trading hands.
A number of research analysts have weighed in on the company. ValuEngine downgraded ICICI Bank from a “sell” rating to a “strong sell” rating in a research note on Friday, January 11th. Zacks Investment Research upgraded ICICI Bank from a “hold” rating to a “strong-buy” rating and set a $12.00 target price for the company in a research note on Friday, January 11th. HSBC downgraded ICICI Bank from a “buy” rating to a “hold” rating in a research note on Friday, November 23rd. Finally, JPMorgan Chase & Co. upgraded ICICI Bank from a “neutral” rating to an “overweight” rating in a research note on Monday, October 15th. One research analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. ICICI Bank currently has a consensus rating of “Buy” and an average price target of $12.00.
The company has a market capitalization of $31.07 billion, a P/E ratio of 31.89 and a beta of 1.20.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Navellier & Associates Inc boosted its stake in shares of ICICI Bank by 53.5% during the 4th quarter. Navellier & Associates Inc now owns 6,649 shares of the bank’s stock worth $68,000 after acquiring an additional 2,317 shares during the period. Keybank National Association OH lifted its holdings in ICICI Bank by 2.1% during the 4th quarter. Keybank National Association OH now owns 144,376 shares of the bank’s stock worth $1,486,000 after purchasing an additional 3,037 shares during the last quarter. BB&T Corp lifted its holdings in ICICI Bank by 5.9% during the 4th quarter. BB&T Corp now owns 92,314 shares of the bank’s stock worth $949,000 after purchasing an additional 5,184 shares during the last quarter. Mondrian Investment Partners LTD lifted its holdings in ICICI Bank by 54.9% during the 4th quarter. Mondrian Investment Partners LTD now owns 14,920 shares of the bank’s stock worth $154,000 after purchasing an additional 5,291 shares during the last quarter. Finally, MML Investors Services LLC lifted its holdings in ICICI Bank by 38.5% during the 3rd quarter. MML Investors Services LLC now owns 20,456 shares of the bank’s stock worth $174,000 after purchasing an additional 5,684 shares during the last quarter. Institutional investors own 23.62% of the company’s stock.
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ICICI Bank Company Profile (NYSE:IBN)
ICICI Bank Limited, together with its subsidiaries, provides banking and financial services in India and internationally. It operates through Retail Banking, Wholesale Banking, Treasury, Other Banking, Life Insurance, General Insurance, and Others segments. The company offers savings, salary, pension, current, and other accounts; and fixed, recurring, and security deposits.
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