Recent Research Analysts’ Ratings Updates for ICICI Bank Limited (IBN)

A number of research firms have changed their ratings and price targets for ICICI Bank Limited (NYSE: IBN):

  • 8/8/2017 – ICICI Bank Limited was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 8/2/2017 – ICICI Bank Limited was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 8/1/2017 – ICICI Bank Limited was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 8/1/2017 – ICICI Bank Limited was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “ICICI Bank’s shares have outperformed the industry, over the last six months. The company’s first quarter fiscal 2018 (ended Jun 30) net income declined year over year. The company is well positioned to capitalize on growth opportunities on the back of increased dependence on domestic loans and a stable fund base. Also, the bank has been leveraging its technological initiatives to augment non-interest income. However, mounting expenses owing to continued investment in franchise will likely adversely impact bottom line. Also, continuously deteriorating asset quality has been hurting the company's financial performance.”
  • 7/25/2017 – ICICI Bank Limited was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.
  • 6/23/2017 – ICICI Bank Limited was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating.
  • 6/20/2017 – ICICI Bank Limited was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “ICICI Bank’s shares have outperformed the Zacks categorized Foreign Banks industry, over the last six months. The company is well positioned to capitalize on growth opportunities on the back of increased dependence on domestic loans and a stable fund base. Also, the bank has been leveraging its technological initiatives to augment non-interest income. These efforts should lead to continued improvement in profitability. However, deteriorating asset quality continues to be a major concern for the company. Moreover, rising expenses are likely to hurt bottom-line growth in the near term.”
  • 6/13/2017 – ICICI Bank Limited was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “ICICI Bank’s shares have outperformed the Zacks categorized Foreign Banks industry, over the last six months. The company is well positioned to capitalize on growth opportunities on the back of increased dependence on domestic loans, focus on improving fee income and a stable fund base. However, continuously deteriorating asset quality remains a major concern for the company. Also, mounting expenses and stringent regulatory requirements have been hurting the bank's financial performance.”
  • 6/13/2017 – ICICI Bank Limited was downgraded by analysts at BidaskClub from a “buy” rating to a “hold” rating.

ICICI Bank Limited (IBN) opened at 8.79 on Friday. ICICI Bank Limited has a 12 month low of $6.43 and a 12 month high of $9.85. The stock has a 50 day moving average of $9.18 and a 200-day moving average of $8.31. The firm has a market cap of $28.16 billion, a P/E ratio of 17.58 and a beta of 1.77.

ICICI Bank Limited (NYSE:IBN) last issued its earnings results on Thursday, July 27th. The bank reported $0.10 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.10. ICICI Bank Limited had a net margin of 13.03% and a return on equity of 8.86%. The firm had revenue of $1.39 billion for the quarter. Equities research analysts predict that ICICI Bank Limited will post $0.38 earnings per share for the current fiscal year.

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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