BidaskClub cut shares of ICICI Bank Limited (NYSE:IBN) from a buy rating to a hold rating in a research note released on Tuesday morning.

Other equities analysts have also recently issued research reports about the stock. Goldman Sachs Group, Inc. (The) upgraded shares of ICICI Bank Limited from a buy rating to a conviction-buy rating in a research report on Tuesday, June 6th. Zacks Investment Research cut shares of ICICI Bank Limited from a buy rating to a hold rating in a research report on Tuesday, June 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $11.00.

Shares of ICICI Bank Limited (NYSE IBN) traded down 2.22% during mid-day trading on Tuesday, reaching $9.27. 7,197,569 shares of the company’s stock were exchanged. 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 $9.10 and a 200-day moving average price of $8.18. The stock has a market cap of $29.70 billion, a PE ratio of 18.84 and a beta of 1.77.

ICICI Bank Limited (NYSE:IBN) last released its quarterly earnings data on Thursday, July 27th. The bank reported $0.10 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.10. ICICI Bank Limited had a net margin of 13.03% and a return on equity of 8.47%. The firm had revenue of $1.39 billion for the quarter. On average, analysts predict that ICICI Bank Limited will post $0.38 EPS for the current year.

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The business also recently declared a None dividend, which was paid on Monday, July 3rd. Investors of record on Wednesday, June 21st were given a dividend of $0.077 per share. The ex-dividend date of this dividend was Monday, June 19th. ICICI Bank Limited’s dividend payout ratio is currently 17.96%.

Large investors have recently bought and sold shares of the company. World Asset Management Inc raised its stake in ICICI Bank Limited by 4.0% in the second quarter. World Asset Management Inc now owns 188,497 shares of the bank’s stock valued at $1,691,000 after buying an additional 7,213 shares during the last quarter. Ronald Blue & Co. LLC acquired a new stake in ICICI Bank Limited during the second quarter valued at approximately $100,000. Daiwa Securities Group Inc. raised its stake in ICICI Bank Limited by 14.8% in the second quarter. Daiwa Securities Group Inc. now owns 447,574 shares of the bank’s stock valued at $4,014,000 after buying an additional 57,574 shares during the last quarter. State of New Jersey Common Pension Fund D raised its stake in ICICI Bank Limited by 326.6% in the second quarter. State of New Jersey Common Pension Fund D now owns 916,978 shares of the bank’s stock valued at $8,225,000 after buying an additional 702,005 shares during the last quarter. Finally, CAPROCK Group Inc. acquired a new stake in ICICI Bank Limited during the second quarter valued at approximately $107,000. 20.68% of the stock is currently owned by institutional investors and hedge funds.

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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