ICICI Bank Sees Unusually High Options Volume (IBN)
ICICI Bank Limited (NYSE:IBN) saw unusually large options trading on Wednesday. Traders bought 4,137 call options on the company. This is an increase of 1,399% compared to the typical daily volume of 276 call options.
Shares of ICICI Bank (IBN) opened at $9.63 on Friday. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.72. ICICI Bank has a 12 month low of $6.69 and a 12 month high of $9.93. The stock has a market capitalization of $29,888.30, a P/E ratio of 23.33, a price-to-earnings-growth ratio of 1.02 and a beta of 1.73.
A number of research analysts recently commented on the company. ValuEngine raised ICICI Bank from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Jefferies Group raised ICICI Bank from a “hold” rating to a “buy” rating in a report on Monday, October 30th. Zacks Investment Research raised ICICI Bank from a “hold” rating to a “buy” rating and set a $9.50 price target on the stock in a report on Tuesday, September 26th. Morgan Stanley raised ICICI Bank from an “underweight” rating to an “overweight” rating in a research note on Wednesday, October 25th. Finally, BidaskClub raised ICICI Bank from a “hold” rating to a “buy” rating in a research note on Saturday, August 26th. One research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $9.50.
Large investors have recently added to or reduced their stakes in the business. Beacon Investment Advisory Services Inc. bought a new stake in ICICI Bank in the 3rd quarter worth approximately $100,000. Smithfield Trust Co. increased its stake in ICICI Bank by 9.0% in the 2nd quarter. Smithfield Trust Co. now owns 11,775 shares of the bank’s stock worth $106,000 after acquiring an additional 968 shares during the last quarter. CAPROCK Group Inc. bought a new stake in ICICI Bank in the 2nd quarter worth approximately $107,000. Teacher Retirement System of Texas bought a new stake in ICICI Bank in the 3rd quarter worth approximately $110,000. Finally, YorkBridge Wealth Partners LLC increased its stake in ICICI Bank by 14.3% in the 2nd quarter. YorkBridge Wealth Partners LLC now owns 12,381 shares of the bank’s stock worth $111,000 after acquiring an additional 1,553 shares during the last quarter. 21.97% of the stock is currently owned by institutional investors and hedge funds.
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About ICICI Bank
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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