ICICI Bank Ltd. (NYSE:IBN) gapped up prior to trading on Thursday . The stock had previously closed at $7.15, but opened at $7.17. ICICI Bank shares last traded at $7.24, with a volume of 4,622,852 shares traded.

Several brokerages have weighed in on IBN. Goldman Sachs Group Inc. cut ICICI Bank from a “buy” rating to a “neutral” rating in a report on Tuesday, May 3rd. JPMorgan Chase & Co. cut ICICI Bank from an “overweight” rating to a “neutral” rating in a report on Thursday, June 16th. Finally, Credit Suisse Group AG upgraded ICICI Bank from a “neutral” rating to an “outperform” rating in a report on Thursday, April 21st. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $12.00.

The company has a market capitalization of $21.02 billion and a PE ratio of 13.85. The firm has a 50 day moving average price of $7.48 and a 200 day moving average price of $6.91.

A number of institutional investors recently made changes to their positions in IBN. Mizuho Trust & Banking Co. Ltd. increased 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 worth $1,238,000 after buying an additional 667 shares during the last quarter. Comerica Bank increased 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 worth $1,514,000 after buying an additional 52,946 shares during the last quarter. BNP Paribas Arbitrage SA increased 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 worth $16,645,000 after buying an additional 525,340 shares during the last quarter. Finally, Crestwood Capital Management L.P. increased its position in shares of ICICI Bank by 11.1% in the fourth quarter. Crestwood Capital Management L.P. now owns 2,600,000 shares of the company’s stock worth $20,358,000 after buying an additional 260,000 shares during 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.

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