ICICI Bank Limited (IBN) Receives $9.50 Average Target Price from Brokerages
ICICI Bank Limited (NYSE:IBN) has been assigned a consensus recommendation of “Buy” from the eight ratings firms that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $9.50.
Several equities research analysts have weighed in on the company. ValuEngine cut ICICI Bank Limited from a “buy” rating to a “hold” rating in a report on Wednesday, September 27th. Zacks Investment Research upgraded ICICI Bank Limited from a “hold” rating to a “buy” rating and set a $9.50 target price for the company in a report on Tuesday, September 26th. Finally, BidaskClub upgraded ICICI Bank Limited from a “hold” rating to a “buy” rating in a report on Saturday, August 26th.
Shares of ICICI Bank Limited (IBN) traded down 0.24% during trading on Friday, reaching $8.43. The company’s stock had a trading volume of 5,800,614 shares. ICICI Bank Limited has a one year low of $6.43 and a one year high of $9.85. The company has a 50-day moving average price of $9.03 and a 200-day moving average price of $8.71. The stock has a market cap of $27.01 billion, a price-to-earnings ratio of 16.79 and a beta of 1.70.
ICICI Bank Limited (NYSE:IBN) last announced its quarterly earnings data on Thursday, July 27th. The bank reported $0.10 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.10. The company had revenue of $1.39 billion for the quarter. ICICI Bank Limited had a return on equity of 8.86% and a net margin of 13.03%. On average, equities research analysts forecast that ICICI Bank Limited will post $0.38 earnings per share for the current fiscal year.
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Hedge funds have recently modified their holdings of the business. Ronald Blue & Co. LLC purchased a new stake in shares of ICICI Bank Limited in the 2nd quarter worth $100,000. American Century Companies Inc. purchased a new stake in shares of ICICI Bank Limited in the 1st quarter worth $101,000. Smithfield Trust Co. lifted its holdings in shares of ICICI Bank Limited by 9.0% in the 2nd quarter. Smithfield Trust Co. now owns 11,775 shares of the bank’s stock worth $106,000 after buying an additional 968 shares during the period. CAPROCK Group Inc. purchased a new stake in shares of ICICI Bank Limited in the 2nd quarter worth $107,000. Finally, YorkBridge Wealth Partners LLC lifted its holdings in shares of ICICI Bank Limited by 14.3% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 12,381 shares of the bank’s stock worth $111,000 after buying an additional 1,553 shares during the period. Institutional investors and hedge funds own 21.68% of the company’s stock.
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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