Shares of ICICI Bank Limited (NYSE:IBN) have been given an average recommendation of “Buy” by the seven ratings firms that are covering the stock, Marketbeat.com reports. One analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $9.50.

A number of equities analysts recently commented on IBN shares. Zacks Investment Research upgraded shares of ICICI Bank from a “hold” rating to a “buy” rating and set a $9.50 target price on the stock in a research report on Tuesday, September 26th. ValuEngine upgraded shares of ICICI Bank from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. BidaskClub upgraded shares of ICICI Bank from a “hold” rating to a “buy” rating in a research report on Saturday, August 26th. Jefferies Group upgraded shares of ICICI Bank from a “hold” rating to a “buy” rating in a research report on Monday, October 30th. Finally, Morgan Stanley upgraded shares of ICICI Bank from an “underweight” rating to an “overweight” rating in a research report on Wednesday, October 25th.

Hedge funds have recently added to or reduced their stakes in the business. Beacon Investment Advisory Services Inc. purchased a new position in shares of ICICI Bank in the third quarter valued at about $100,000. Teacher Retirement System of Texas purchased a new position in shares of ICICI Bank in the third quarter valued at about $110,000. YorkBridge Wealth Partners LLC increased its position in shares of ICICI Bank by 14.3% in the second quarter. YorkBridge Wealth Partners LLC now owns 12,381 shares of the bank’s stock valued at $111,000 after acquiring an additional 1,553 shares during the period. Comerica Securities Inc. purchased a new position in shares of ICICI Bank in the second quarter valued at about $115,000. Finally, American Century Companies Inc. increased its position in shares of ICICI Bank by 10.0% in the second quarter. American Century Companies Inc. now owns 12,980 shares of the bank’s stock valued at $116,000 after acquiring an additional 1,180 shares during the period. Hedge funds and other institutional investors own 21.97% of the company’s stock.

Shares of ICICI Bank (NYSE IBN) traded up $0.13 during trading hours on Thursday, reaching $9.56. 5,146,111 shares of the company were exchanged, compared to its average volume of 8,044,383. The stock has a market cap of $30,753.24, a PE ratio of 24.00, a PEG ratio of 1.05 and a beta of 1.73. ICICI Bank has a one year low of $6.69 and a one year high of $9.93. The company has a debt-to-equity ratio of 1.72, a quick ratio of 1.16 and a current ratio of 1.16.

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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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