ICICI Bank Limited (NYSE:IBN)’s share price gapped up prior to trading on Monday . The stock had previously closed at $7.75, but opened at $7.91. ICICI Bank Limited shares last traded at $7.97, with a volume of 16,764,227 shares trading hands.

A number of 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. Finally, Zacks Investment Research downgraded ICICI Bank Limited from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. One analyst has rated the stock with a sell rating, two have assigned a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. ICICI Bank Limited currently has a consensus rating of “Buy” and a consensus price target of $9.50.

The firm has a market capitalization of $25.53 billion, a PE ratio of 15.88 and a beta of 1.70. The stock’s 50-day moving average price is $8.65 and its 200 day moving average price is $8.77.

ICICI Bank Limited (NYSE:IBN) last issued its quarterly earnings data on Thursday, July 27th. The bank reported $0.10 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.10. ICICI Bank Limited had a return on equity of 8.86% and a net margin of 13.03%. The firm had revenue of $1.39 billion during the quarter. On average, analysts anticipate that ICICI Bank Limited will post $0.38 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently modified their holdings of the company. Augustine Asset Management Inc. grew its position in shares of ICICI Bank Limited by 10.0% in the 3rd quarter. Augustine Asset Management Inc. now owns 286,767 shares of the bank’s stock worth $2,454,000 after acquiring an additional 26,136 shares in the last quarter. BB&T Corp grew its position in shares of ICICI Bank Limited by 18.7% in the 3rd quarter. BB&T Corp now owns 92,756 shares of the bank’s stock worth $794,000 after acquiring an additional 14,613 shares in the last quarter. CAPROCK Group Inc. grew its position in shares of ICICI Bank Limited by 54.9% in the 3rd quarter. CAPROCK Group Inc. now owns 18,265 shares of the bank’s stock worth $156,000 after acquiring an additional 6,476 shares in the last quarter. Fisher Asset Management LLC grew its position in shares of ICICI Bank Limited by 4.9% in the 3rd quarter. Fisher Asset Management LLC now owns 13,677,248 shares of the bank’s stock worth $117,077,000 after acquiring an additional 644,694 shares in the last quarter. Finally, Sumitomo Life Insurance Co. grew its position in shares of ICICI Bank Limited by 19.1% in the 3rd quarter. Sumitomo Life Insurance Co. now owns 87,990 shares of the bank’s stock worth $753,000 after acquiring an additional 14,090 shares in the last quarter. Institutional investors own 21.67% of the company’s stock.

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About ICICI Bank Limited

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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