Traders Sell Shares of ICICI Bank Ltd. (IBN) on Strength (IBN)
Investors sold shares of ICICI Bank Ltd. (NYSE:IBN) on strength during trading on Wednesday. $11.40 million flowed into the stock on the tick-up and $34.27 million flowed out of the stock on the tick-down, for a money net flow of $22.87 million out of the stock. Of all companies tracked, ICICI Bank had the 0th highest net out-flow for the day. ICICI Bank traded up $0.15 for the day and closed at $7.98
Several research analysts have weighed in on the company. Credit Suisse Group AG upgraded ICICI Bank from a “neutral” rating to an “outperform” rating in a research note on Thursday, April 21st. JPMorgan Chase & Co. cut ICICI Bank from an “overweight” rating to a “neutral” rating in a report on Thursday, June 16th. Finally, Goldman Sachs Group Inc. cut ICICI Bank from a “buy” rating to a “neutral” rating in a report on Tuesday, May 3rd. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. ICICI Bank currently has an average rating of “Hold” and a consensus price target of $12.00.
The stock has a market cap of $23.39 billion and a price-to-earnings ratio of 15.531. The stock has a 50 day moving average of $7.45 and a 200 day moving average of $6.87.
Other hedge funds and institutional investors recently made changes to their positions in the company. Mizuho Trust & Banking Co. Ltd. boosted its position in shares of ICICI Bank by 0.4% in the fourth quarter. Mizuho Trust & Banking Co. Ltd. now owns 159,117 shares of the company’s stock valued at $1,238,000 after buying an additional 667 shares in the last quarter. Comerica Bank boosted its position in shares of ICICI Bank by 33.2% in the fourth quarter. Comerica Bank now owns 212,283 shares of the company’s stock valued at $1,514,000 after buying an additional 52,946 shares in the last quarter. New Vernon Capital Holdings II LLC bought a new position in shares of ICICI Bank during the fourth quarter valued at $2,153,000. Herndon Capital Management LLC bought a new position in shares of ICICI Bank during the fourth quarter valued at $2,154,000. Finally, BNP Paribas Arbitrage SA boosted its position in shares of ICICI Bank by 32.8% in the fourth quarter. BNP Paribas Arbitrage SA now owns 2,125,809 shares of the company’s stock valued at $16,645,000 after buying an additional 525,340 shares in the last quarter.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.