ICICI Bank Target of Unusually Large Options Trading (IBN)
ICICI Bank Limited (NYSE:IBN) was the recipient of some unusual options trading on Monday. Traders purchased 8,009 put options on the stock. This represents an increase of approximately 1,486% compared to the average volume of 505 put options.
Shares of ICICI Bank (NYSE IBN) opened at $9.38 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.72. The stock has a market capitalization of $30,561.03, a price-to-earnings ratio of 23.85, a P/E/G ratio of 1.04 and a beta of 1.73. ICICI Bank has a 1-year low of $6.69 and a 1-year high of $9.93.
IBN has been the topic of several research analyst reports. Zacks Investment Research upgraded ICICI Bank from a “hold” rating to a “buy” rating and set a $9.50 price objective on the stock in a report on Tuesday, September 26th. BidaskClub upgraded ICICI Bank from a “hold” rating to a “buy” rating in a report on Saturday, August 26th. Jefferies Group upgraded ICICI Bank from a “hold” rating to a “buy” rating in a report on Monday, October 30th. Morgan Stanley upgraded ICICI Bank from an “underweight” rating to an “overweight” rating in a report on Wednesday, October 25th. Finally, ValuEngine downgraded ICICI Bank from a “buy” rating to a “hold” rating in a report on Wednesday, September 27th. One analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. ICICI Bank currently has a consensus rating of “Buy” and a consensus price target of $9.50.
Several hedge funds have recently bought and sold shares of the stock. Baldwin Investment Management LLC increased its holdings in ICICI Bank by 0.8% during the 2nd quarter. Baldwin Investment Management LLC now owns 61,073 shares of the bank’s stock worth $548,000 after purchasing an additional 483 shares during the period. Smithfield Trust Co. increased its holdings in ICICI Bank by 9.0% during the 2nd quarter. Smithfield Trust Co. now owns 11,775 shares of the bank’s stock worth $106,000 after purchasing an additional 968 shares during the period. Pitcairn Co. increased its holdings in ICICI Bank by 5.3% during the 2nd quarter. Pitcairn Co. now owns 22,424 shares of the bank’s stock worth $201,000 after purchasing an additional 1,131 shares during the period. American Century Companies Inc. increased its holdings in ICICI Bank by 10.0% during the 2nd quarter. American Century Companies Inc. now owns 12,980 shares of the bank’s stock worth $116,000 after purchasing an additional 1,180 shares during the period. Finally, Sequoia Financial Advisors LLC increased its holdings in ICICI Bank by 10.0% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 13,614 shares of the bank’s stock worth $122,000 after purchasing an additional 1,238 shares during the period. Hedge funds and other institutional investors own 24.24% of the company’s stock.
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About ICICI Bank
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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