ICICI Bank Ltd (NYSE:IBN) Receives $12.00 Average PT from Analysts

ICICI Bank Ltd (NYSE:IBN) has earned an average rating of “Buy” from the seven brokerages that are presently covering the company, Marketbeat.com reports. Four research analysts have rated the stock with a hold rating, two have given a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $12.00.

A number of research analysts have weighed in on IBN shares. ValuEngine raised shares of ZIX from a “buy” rating to a “strong-buy” rating in a research note on Saturday, May 4th. Standpoint Research lowered shares of Companhia Siderurgica Nacional from a “buy” rating to a “hold” rating in a research report on Friday, March 29th. Zacks Investment Research lowered shares of Glu Mobile from a “buy” rating to a “hold” rating in a research report on Tuesday, April 9th. Finally, Goldman Sachs Group set a GBX 4,300 ($56.19) price objective on shares of ASOS and gave the stock a “buy” rating in a research report on Monday, April 15th.

IBN traded down $0.07 during trading on Friday, reaching $12.32. The company had a trading volume of 4,054,169 shares, compared to its average volume of 4,532,895. ICICI Bank has a 12 month low of $7.61 and a 12 month high of $12.65. The company’s fifty day moving average price is $12.22. The stock has a market capitalization of $39.64 billion, a P/E ratio of 82.13 and a beta of 0.80.

Several hedge funds have recently made changes to their positions in IBN. Exane Derivatives lifted its position in shares of ICICI Bank by 89.3% in the second quarter. Exane Derivatives now owns 2,396 shares of the bank’s stock worth $30,000 after purchasing an additional 1,130 shares in the last quarter. Cullen Frost Bankers Inc. bought a new stake in shares of ICICI Bank in the first quarter worth $32,000. Rehmann Capital Advisory Group lifted its position in shares of ICICI Bank by 28.3% in the fourth quarter. Rehmann Capital Advisory Group now owns 6,069 shares of the bank’s stock worth $62,000 after purchasing an additional 1,339 shares in the last quarter. Lindbrook Capital LLC lifted its position in shares of ICICI Bank by 21.3% in the first quarter. Lindbrook Capital LLC now owns 5,469 shares of the bank’s stock worth $62,000 after purchasing an additional 962 shares in the last quarter. Finally, Nuveen Asset Management LLC bought a new stake in shares of ICICI Bank in the fourth quarter worth $108,000. 22.68% of the stock is currently owned by institutional investors and hedge funds.

ICICI Bank Company Profile

ICICI Bank Limited, together with its subsidiaries, provides banking and financial services in India and internationally. It operates through Retail Banking, Wholesale Banking, Treasury, Other Banking, Life Insurance, General Insurance, and Others segments. The company offers savings, salary, pension, current, and other accounts; and fixed, recurring, and security deposits.

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Analyst Recommendations for ICICI Bank (NYSE:IBN)

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