ICICI Bank Ltd. (NYSE:IBN) has been given an average broker rating score of 1.00 (Strong Buy) from the two analysts that cover the company, Zacks Investment Research reports. Two equities research analysts have rated the stock with a strong buy recommendation.
Analysts have set a one year consensus price objective of $9.70 for the company, according to Zacks. Zacks has also given ICICI Bank an industry rank of 47 out of 265 based on the ratings given to its competitors.
Several hedge funds have recently added to or reduced their stakes in the company. Quantitative Investment Management LLC purchased a new stake in ICICI Bank during the second quarter worth $103,000. Creative Planning boosted its stake in ICICI Bank by 216.4% in the third quarter. Creative Planning now owns 16,741 shares of the company’s stock worth $125,000 after buying an additional 11,450 shares during the period. Neuberger Berman Group LLC boosted its stake in ICICI Bank by 8.3% in the second quarter. Neuberger Berman Group LLC now owns 18,619 shares of the company’s stock worth $134,000 after buying an additional 1,419 shares during the period. Swarthmore Group Inc. boosted its stake in ICICI Bank by 55.5% in the second quarter. Swarthmore Group Inc. now owns 18,850 shares of the company’s stock worth $135,000 after buying an additional 6,725 shares during the period. Finally, Gratus Capital LLC purchased a new stake in ICICI Bank during the second quarter worth $144,000. 22.47% of the stock is currently owned by institutional investors and hedge funds.
Shares of ICICI Bank (NYSE:IBN) opened at 7.27 on Monday. The stock has a market cap of $21.14 billion, a P/E ratio of 13.93 and a beta of 1.98. The firm has a 50 day moving average of $7.78 and a 200 day moving average of $7.37. ICICI Bank has a one year low of $5.15 and a one year high of $9.15.
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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