ICICI Bank Ltd (NYSE:IBN) shares traded up 5.3% during mid-day trading on Tuesday . The company traded as high as $10.56 and last traded at $10.51. 15,075,202 shares were traded during trading, an increase of 129% from the average session volume of 6,568,940 shares. The stock had previously closed at $9.98.

A number of research analysts have issued reports on the company. Morgan Stanley assumed coverage on ICICI Bank in a research note on Tuesday. They set an “overweight” rating for the company. Zacks Investment Research cut ICICI Bank from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. Jefferies Group upgraded ICICI Bank from a “hold” rating to a “buy” rating in a research note on Monday, October 30th. Finally, ValuEngine cut ICICI Bank from a “buy” rating to a “hold” rating in a research note on Wednesday, September 27th. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. ICICI Bank has an average rating of “Buy” and an average target price of $11.00.

The firm has a market capitalization of $35,150.00, a P/E ratio of 35.03, a PEG ratio of 1.01 and a beta of 1.72.

ICICI Bank (NYSE:IBN) last announced its quarterly earnings data on Friday, October 27th. The bank reported $0.10 earnings per share (EPS) for the quarter. ICICI Bank had a return on equity of 7.95% and a net margin of 11.74%. research analysts forecast that ICICI Bank Ltd will post 0.47 EPS for the current year.

Several institutional investors have recently bought and sold shares of the business. American Century Companies Inc. increased its holdings in shares of ICICI Bank by 10.0% in 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 in the last quarter. YorkBridge Wealth Partners LLC increased its holdings in shares of ICICI Bank 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 purchasing an additional 1,553 shares in the last quarter. Advisor Group Inc. increased its holdings in shares of ICICI Bank by 7.7% in the 2nd quarter. Advisor Group Inc. now owns 22,371 shares of the bank’s stock worth $199,000 after purchasing an additional 1,595 shares in the last quarter. Mariner Wealth Advisors LLC increased its holdings in shares of ICICI Bank by 11.8% in the 2nd quarter. Mariner Wealth Advisors LLC now owns 20,445 shares of the bank’s stock worth $183,000 after purchasing an additional 2,156 shares in the last quarter. Finally, QS Investors LLC increased its holdings in shares of ICICI Bank by 10.0% in the 2nd quarter. QS Investors LLC now owns 38,500 shares of the bank’s stock worth $345,000 after purchasing an additional 3,500 shares in the last quarter. 21.96% of the stock is owned by institutional investors and hedge funds.

COPYRIGHT VIOLATION NOTICE: “ICICI Bank (IBN) Trading 5.3% Higher” was reported by Daily Political and is owned by of Daily Political. If you are reading this piece on another publication, it was illegally copied and republished in violation of US & international trademark and copyright laws. The original version of this piece can be read at https://www.dailypolitical.com/2018/01/16/icici-bank-ibn-trading-5-3-higher.html.

ICICI Bank 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.

Receive News & Ratings for ICICI Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ICICI Bank and related companies with MarketBeat.com's FREE daily email newsletter.