ICICI Bank Target of Unusually High Options Trading (IBN)
ICICI Bank Ltd (NYSE:IBN) saw some unusual options trading on Tuesday. Stock traders acquired 10,179 put options on the company. This is an increase of approximately 4,159% compared to the typical volume of 239 put options.
A number of research firms have recently weighed in on IBN. ValuEngine lowered ICICI Bank from a “buy” rating to a “hold” rating in a research note on Wednesday, March 7th. Morgan Stanley began coverage on ICICI Bank in a research note on Tuesday, January 16th. They issued an “overweight” rating for the company. Finally, Zacks Investment Research lowered ICICI Bank from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. ICICI Bank currently has a consensus rating of “Buy” and an average target price of $11.00.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in IBN. Harding Loevner LP lifted its stake in shares of ICICI Bank by 144.2% in the 3rd quarter. Harding Loevner LP now owns 121,859,547 shares of the bank’s stock valued at $348,926,000 after acquiring an additional 71,952,293 shares during the last quarter. OppenheimerFunds Inc. increased its holdings in ICICI Bank by 15.0% during the 4th quarter. OppenheimerFunds Inc. now owns 61,623,547 shares of the bank’s stock valued at $599,597,000 after purchasing an additional 8,049,720 shares during the period. Global Thematic Partners LLC increased its holdings in ICICI Bank by 35.1% during the 4th quarter. Global Thematic Partners LLC now owns 13,538,686 shares of the bank’s stock valued at $131,732,000 after purchasing an additional 3,519,859 shares during the period. TIAA CREF Investment Management LLC increased its holdings in ICICI Bank by 310.6% during the 4th quarter. TIAA CREF Investment Management LLC now owns 4,514,378 shares of the bank’s stock valued at $43,925,000 after purchasing an additional 3,414,843 shares during the period. Finally, ARGA Investment Management LP increased its holdings in ICICI Bank by 24.7% during the 4th quarter. ARGA Investment Management LP now owns 13,631,501 shares of the bank’s stock valued at $132,635,000 after purchasing an additional 2,698,391 shares during the period. 21.82% of the stock is owned by institutional investors.
COPYRIGHT VIOLATION NOTICE: “ICICI Bank Target of Unusually High Options Trading (IBN)” was first reported by Daily Political and is the sole property of of Daily Political. If you are viewing this news story on another domain, it was illegally copied and reposted in violation of U.S. and international copyright law. The legal version of this news story can be accessed at https://www.dailypolitical.com/2018/03/14/icici-bank-target-of-unusually-high-options-trading-ibn.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.