ICICI Bank Ltd (IBN) Receives Consensus Recommendation of “Hold” from Brokerages

ICICI Bank Ltd (NYSE:IBN) has earned an average rating of “Hold” from the six ratings firms that are covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have issued a buy recommendation on the company.

A number of analysts recently weighed in on the stock. HSBC cut shares of ICICI Bank from a “buy” rating to a “hold” rating in a report on Friday. ValuEngine upgraded shares of ICICI Bank from a “sell” rating to a “hold” rating in a report on Monday, July 30th. Zacks Investment Research upgraded shares of ICICI Bank from a “sell” rating to a “hold” rating in a report on Tuesday, October 9th. Finally, JPMorgan Chase & Co. upgraded shares of ICICI Bank from a “neutral” rating to an “overweight” rating in a report on Monday, October 15th.

A number of large investors have recently modified their holdings of the stock. OppenheimerFunds Inc. boosted its holdings in ICICI Bank by 10.3% during the third quarter. OppenheimerFunds Inc. now owns 80,158,860 shares of the bank’s stock worth $680,547,000 after buying an additional 7,490,600 shares in the last quarter. Baillie Gifford & Co. boosted its holdings in ICICI Bank by 45.8% during the third quarter. Baillie Gifford & Co. now owns 63,026,111 shares of the bank’s stock worth $535,091,000 after buying an additional 19,805,081 shares in the last quarter. Earnest Partners LLC boosted its holdings in ICICI Bank by 0.3% during the second quarter. Earnest Partners LLC now owns 18,481,429 shares of the bank’s stock worth $148,406,000 after buying an additional 49,146 shares in the last quarter. FMR LLC boosted its holdings in ICICI Bank by 56.2% during the third quarter. FMR LLC now owns 18,441,665 shares of the bank’s stock worth $156,570,000 after buying an additional 6,631,895 shares in the last quarter. Finally, ARGA Investment Management LP boosted its stake in ICICI Bank by 21.3% in the 3rd quarter. ARGA Investment Management LP now owns 16,616,460 shares of the bank’s stock worth $141,074,000 after purchasing an additional 2,918,359 shares during the period. Hedge funds and other institutional investors own 23.33% of the company’s stock.

Shares of ICICI Bank stock traded down $0.17 on Friday, hitting $9.84. The company had a trading volume of 334,119 shares, compared to its average volume of 8,810,520. The company has a debt-to-equity ratio of 1.97, a current ratio of 1.12 and a quick ratio of 1.12. The stock has a market capitalization of $32.07 billion, a PE ratio of 30.73 and a beta of 1.40. ICICI Bank has a 52 week low of $7.61 and a 52 week high of $11.26.

ICICI Bank Company Profile

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

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