Shares of ICICI Bank Limited (NYSE:IBN) gapped up prior to trading on Friday . The stock had previously closed at $9.24, but opened at $9.44. ICICI Bank Limited shares last traded at $9.61, with a volume of 9969676 shares.

Several brokerages recently issued reports on IBN. ValuEngine downgraded ICICI Bank Limited from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. BidaskClub downgraded ICICI Bank Limited from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. Zacks Investment Research downgraded ICICI Bank Limited from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Jefferies Group LLC raised ICICI Bank Limited from a “hold” rating to a “buy” rating in a research note on Monday, October 30th. Finally, Morgan Stanley raised ICICI Bank Limited from an “underweight” rating to an “overweight” rating in a research note on Wednesday, October 25th. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus price target of $9.50.

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 firm has a market capitalization of $30,785.27, a P/E ratio of 24.02, a P/E/G ratio of 0.93 and a beta of 1.73.

Institutional investors and hedge funds have recently bought and sold shares of the company. Eqis Capital Management Inc. raised its stake in shares of ICICI Bank Limited by 48.3% in the 3rd quarter. Eqis Capital Management Inc. now owns 89,527 shares of the bank’s stock worth $766,000 after buying an additional 29,145 shares in the last quarter. Baillie Gifford & Co. raised its stake in shares of ICICI Bank Limited by 8.1% in the 2nd quarter. Baillie Gifford & Co. now owns 21,193,323 shares of the bank’s stock worth $190,104,000 after buying an additional 1,589,102 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. bought a new stake in shares of ICICI Bank Limited in the 2nd quarter worth $1,137,000. Capital Research Global Investors raised its stake in shares of ICICI Bank Limited by 10.3% in the 2nd quarter. Capital Research Global Investors now owns 2,152,702 shares of the bank’s stock worth $19,310,000 after buying an additional 201,279 shares in the last quarter. Finally, Capital One National Association raised its stake in shares of ICICI Bank Limited by 4.5% in the 2nd quarter. Capital One National Association now owns 23,731 shares of the bank’s stock worth $213,000 after buying an additional 1,028 shares in the last quarter. 22.05% of the stock is currently owned by institutional investors.

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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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