ICICI Bank Limited (NYSE:IBN) has earned a consensus rating of “Buy” from the seven brokerages that are presently covering the firm, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation, three have assigned a buy recommendation and one has assigned a strong buy recommendation to the company.

IBN has been the subject of a number of recent research reports. Macquarie upgraded shares of ICICI Bank Limited from a “neutral” rating to an “outperform” rating in a research note on Monday, March 20th. Morgan Stanley downgraded shares of ICICI Bank Limited from an “equal weight” rating to an “underweight” rating in a research note on Tuesday, March 21st. Zacks Investment Research upgraded shares of ICICI Bank Limited from a “hold” rating to a “buy” rating and set a $10.00 target price for the company in a research note on Monday, May 8th. Goldman Sachs Group, Inc. (The) upgraded shares of ICICI Bank Limited from a “buy” rating to a “conviction-buy” rating in a research report on Tuesday, June 6th. Finally, BidaskClub downgraded shares of ICICI Bank Limited from a “buy” rating to a “hold” rating in a research report on Tuesday, June 13th.

ICICI Bank Limited (IBN) traded up 0.11% during mid-day trading on Monday, reaching $9.33. The company had a trading volume of 4,439,946 shares. ICICI Bank Limited has a 12 month low of $6.42 and a 12 month high of $9.37. The firm’s 50-day moving average price is $8.84 and its 200-day moving average price is $7.85. The stock has a market cap of $29.89 billion, a PE ratio of 19.12 and a beta of 1.77.

The firm also recently declared an annual dividend, which was paid on Wednesday, June 21st. Stockholders of record on Wednesday, June 21st were issued a dividend of $0.078 per share. The ex-dividend date of this dividend was Monday, June 19th. ICICI Bank Limited’s dividend payout ratio (DPR) is presently 17.96%.

Institutional investors have recently modified their holdings of the company. Fisher Asset Management LLC raised its position in ICICI Bank Limited by 12.5% in the second quarter. Fisher Asset Management LLC now owns 13,032,554 shares of the bank’s stock valued at $116,902,000 after buying an additional 1,447,249 shares during the last quarter. Handelsinvest Investeringsforvaltning increased its stake in ICICI Bank Limited by 10.0% in the second quarter. Handelsinvest Investeringsforvaltning now owns 19,541 shares of the bank’s stock valued at $175,000 after buying an additional 1,776 shares during the period. NN Investment Partners Holdings N.V. increased its stake in ICICI Bank Limited by 19.0% in the second quarter. NN Investment Partners Holdings N.V. now owns 1,489,658 shares of the bank’s stock valued at $13,362,000 after buying an additional 237,609 shares during the period. Bank of Montreal Can increased its stake in ICICI Bank Limited by 19.0% in the second quarter. Bank of Montreal Can now owns 3,406,363 shares of the bank’s stock valued at $30,555,000 after buying an additional 544,322 shares during the period. Finally, Portland Global Advisors LLC increased its stake in ICICI Bank Limited by 1.0% in the second quarter. Portland Global Advisors LLC now owns 239,599 shares of the bank’s stock valued at $2,149,000 after buying an additional 2,435 shares during the period. Institutional investors own 20.48% of the company’s stock.

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ICICI Bank Limited Company Profile

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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