ICICI Bank Ltd (NYSE:IBN) has been assigned a consensus rating of “Buy” from the seven analysts that are presently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company.
IBN has been the subject of several recent research reports. Jefferies Group raised shares of ICICI Bank from a “hold” rating to a “buy” rating in a research report on Monday, October 30th. Zacks Investment Research raised shares of ICICI Bank from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a research report on Monday, January 8th. Finally, Morgan Stanley initiated coverage on shares of ICICI Bank in a research report on Tuesday, January 16th. They set an “overweight” rating for the company.
Several large investors have recently bought and sold shares of IBN. C WorldWide Group Holding A S grew its position in ICICI Bank by 3.3% in the 4th quarter. C WorldWide Group Holding A S now owns 5,269,626 shares of the bank’s stock worth $51,273,000 after purchasing an additional 168,036 shares in the last quarter. Daiwa Securities Group Inc. grew its position in ICICI Bank by 4.7% in the 4th quarter. Daiwa Securities Group Inc. now owns 1,100,600 shares of the bank’s stock worth $10,709,000 after purchasing an additional 49,800 shares in the last quarter. Teacher Retirement System of Texas grew its position in ICICI Bank by 1,502.7% in the 4th quarter. Teacher Retirement System of Texas now owns 205,761 shares of the bank’s stock worth $2,002,000 after purchasing an additional 192,923 shares in the last quarter. ING Groep NV grew its position in ICICI Bank by 40.7% in the 4th quarter. ING Groep NV now owns 61,361 shares of the bank’s stock worth $597,000 after purchasing an additional 17,740 shares in the last quarter. Finally, BT Investment Management Ltd grew its position in ICICI Bank by 4.1% in the 4th quarter. BT Investment Management Ltd now owns 10,524,302 shares of the bank’s stock worth $102,401,000 after purchasing an additional 409,672 shares in the last quarter. 21.98% of the stock is owned by institutional investors.
ICICI Bank (NYSE IBN) traded down $0.19 during trading hours on Friday, hitting $10.36. 3,835,439 shares of the stock traded hands, compared to its average volume of 7,570,510. The company has a market capitalization of $32,258.86, a P/E ratio of 26.38, a PEG ratio of 1.10 and a beta of 1.80. ICICI Bank has a one year low of $7.35 and a one year high of $11.26.
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About ICICI Bank
ICICI Bank Limited is a banking company. The Bank is engaged in providing a range of banking and financial services, including commercial banking, retail banking, project and corporate finance, working capital finance, insurance, venture capital and private equity, investment banking, broking and treasury products and services.
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