ICICI Bank Ltd (IBN) Given Consensus Rating of “Buy” by Analysts
Shares of ICICI Bank Ltd (NYSE:IBN) have received an average recommendation of “Buy” from the seven analysts that are currently covering the stock, MarketBeat reports. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company.
A number of research firms have recently commented on IBN. Zacks Investment Research downgraded shares of ICICI Bank from a “buy” rating to a “hold” rating in a research note on Wednesday, January 10th. Morgan Stanley assumed coverage on shares of ICICI Bank in a research note on Tuesday, January 16th. They set an “overweight” rating for the company.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of ICICI Bank by 0.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,706,620 shares of the bank’s stock valued at $14,609,000 after acquiring an additional 5,364 shares in the last quarter. Baldwin Investment Management LLC raised its holdings in ICICI Bank by 10.4% during the 3rd quarter. Baldwin Investment Management LLC now owns 67,425 shares of the bank’s stock valued at $577,000 after acquiring an additional 6,352 shares during the period. Daiwa SB Investments Ltd. raised its holdings in ICICI Bank by 52.7% during the 4th quarter. Daiwa SB Investments Ltd. now owns 23,180 shares of the bank’s stock valued at $226,000 after acquiring an additional 8,000 shares during the period. US Bancorp DE raised its holdings in ICICI Bank by 1.7% during the 4th quarter. US Bancorp DE now owns 561,027 shares of the bank’s stock valued at $5,458,000 after acquiring an additional 9,144 shares during the period. Finally, Janus Henderson Group PLC raised its holdings in ICICI Bank by 10.0% during the 2nd quarter. Janus Henderson Group PLC now owns 102,171 shares of the bank’s stock valued at $916,000 after acquiring an additional 9,288 shares during the period. 22.24% of the stock is owned by hedge funds and other institutional investors.
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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.
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