ICICI Bank Ltd. (NYSE:IBN) has earned an average broker rating score of 1.00 (Strong Buy) from the two analysts that provide coverage for the company, Zacks Investment Research reports. Two research analysts have rated the stock with a strong buy rating.
Analysts have set a 12-month consensus target price of $9.70 for the company, according to Zacks. Zacks has also assigned ICICI Bank an industry rank of 55 out of 265 based on the ratings given to its competitors.
Separately, JPMorgan Chase & Co. lowered shares of ICICI Bank from an “overweight” rating to a “neutral” rating in a research note on Thursday, June 16th.
Institutional investors have recently bought and sold shares of the company. State Street Corp increased its position in ICICI Bank by 2.1% in the first quarter. State Street Corp now owns 3,918,416 shares of the company’s stock worth $28,057,000 after buying an additional 78,742 shares in the last quarter. Prudential Financial Inc. increased its position in ICICI Bank by 15.4% in the first quarter. Prudential Financial Inc. now owns 478,900 shares of the company’s stock worth $3,429,000 after buying an additional 64,000 shares in the last quarter. Renaissance Technologies LLC increased its position in ICICI Bank by 167.0% in the first quarter. Renaissance Technologies LLC now owns 6,111,200 shares of the company’s stock worth $43,756,000 after buying an additional 3,822,000 shares in the last quarter. World Asset Management Inc increased its position in ICICI Bank by 8.3% in the second quarter. World Asset Management Inc now owns 179,942 shares of the company’s stock worth $1,292,000 after buying an additional 13,861 shares in the last quarter. Finally, TD Asset Management Inc. increased its position in ICICI Bank by 88.8% in the second quarter. TD Asset Management Inc. now owns 2,588,970 shares of the company’s stock worth $18,589,000 after buying an additional 1,217,668 shares in the last quarter. Institutional investors own 22.47% of the company’s stock.
ICICI Bank (NYSE:IBN) opened at 7.37 on Monday. The company’s 50-day moving average price is $7.78 and its 200 day moving average price is $7.37. ICICI Bank has a 52 week low of $5.15 and a 52 week high of $9.27. The company has a market capitalization of $21.43 billion, a price-to-earnings ratio of 14.12 and a beta of 1.98.
About ICICI Bank
ICICI Bank Limited is a banking company. The Bank is a financial services group 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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