ICICI Bank (IBN) Cut to “Hold” at ValuEngine

ICICI Bank (NYSE:IBN) was downgraded by research analysts at ValuEngine from a “buy” rating to a “hold” rating in a report issued on Thursday.

Shares of ICICI Bank traded down $0.05, reaching $8.71, during trading hours on Thursday, MarketBeat Ratings reports. The company had a trading volume of 64,428 shares, compared to its average volume of 7,758,393. ICICI Bank has a 12 month low of $8.75 and a 12 month high of $8.84. The firm has a market capitalization of $28.48 billion, a PE ratio of 26.94, a P/E/G ratio of 0.86 and a beta of 1.88.

Several hedge funds have recently bought and sold shares of IBN. SeaCrest Wealth Management LLC bought a new stake in ICICI Bank during the fourth quarter worth $107,000. Lake Street Advisors Group LLC bought a new stake in ICICI Bank during the fourth quarter worth $112,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. bought a new stake in ICICI Bank during the first quarter worth $108,000. Fox Run Management L.L.C. bought a new stake in ICICI Bank during the fourth quarter worth $120,000. Finally, BB&T Securities LLC bought a new stake in ICICI Bank during the first quarter worth $114,000. Institutional investors own 21.82% of the company’s stock.

About ICICI Bank

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, other accounts; and fixed, recurring, and security deposits.

To view ValuEngine’s full report, visit ValuEngine’s official website.

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