ICICI Bank Limited (IBN) Receives Average Rating of “Hold” from Brokerages
ICICI Bank Limited (NYSE:IBN) has received a consensus rating of “Hold” from the eight ratings firms that are presently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company.
A number of research analysts recently weighed in on IBN shares. Zacks Investment Research raised shares of ICICI Bank Limited from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a research note on Monday, May 8th. BidaskClub raised shares of ICICI Bank Limited from a “hold” rating to a “buy” rating in a research note on Friday, June 23rd. Goldman Sachs Group, Inc. (The) raised shares of ICICI Bank Limited from a “buy” rating to a “conviction-buy” rating in a research note on Tuesday, June 6th. Finally, ValuEngine lowered shares of ICICI Bank Limited from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IBN. Ronald Blue & Co. LLC purchased a new stake in shares of ICICI Bank Limited during the second quarter worth about $100,000. Smithfield Trust Co. increased its stake in shares of ICICI Bank Limited by 9.0% in the second quarter. Smithfield Trust Co. now owns 11,775 shares of the bank’s stock worth $106,000 after buying an additional 968 shares in the last quarter. CAPROCK Group Inc. purchased a new stake in shares of ICICI Bank Limited during the second quarter worth about $107,000. American Century Companies Inc. purchased a new stake in shares of ICICI Bank Limited during the first quarter worth about $101,000. Finally, Comerica Securities Inc. purchased a new stake in shares of ICICI Bank Limited during the second quarter worth about $115,000. 20.84% of the stock is currently owned by institutional investors and hedge funds.
Shares of ICICI Bank Limited (IBN) traded up 1.25% during trading on Friday, hitting $8.90. The stock had a trading volume of 4,374,244 shares. ICICI Bank Limited has a 12-month low of $6.43 and a 12-month high of $9.85. The firm has a 50 day moving average price of $9.18 and a 200 day moving average price of $8.31. The firm has a market cap of $28.51 billion, a P/E ratio of 17.80 and a beta of 1.77.
ICICI Bank Limited (NYSE:IBN) last issued its quarterly earnings results on Thursday, July 27th. The bank reported $0.10 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.10. The firm had revenue of $1.39 billion for the quarter. ICICI Bank Limited had a net margin of 13.03% and a return on equity of 8.86%. On average, equities analysts expect that ICICI Bank Limited will post $0.38 earnings per share for the current fiscal year.
ICICI Bank Limited Company Profile
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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