Shares of ICICI Bank Ltd (NYSE:IBN) have been given an average rating of “Buy” by the six ratings firms that are covering the firm, MarketBeat.com reports. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The average 12 month price objective among brokers that have covered the stock in the last year is $12.00.

Several research firms recently commented on IBN. ValuEngine lowered ICICI Bank from a “sell” rating to a “strong sell” rating in a research note on Friday. Zacks Investment Research lowered ICICI Bank from a “hold” rating to a “sell” rating in a research note on Wednesday, October 17th. JPMorgan Chase & Co. upgraded ICICI Bank from a “neutral” rating to an “overweight” rating in a research note on Monday, October 15th. Finally, HSBC lowered ICICI Bank from a “buy” rating to a “hold” rating in a research note on Friday, November 23rd.

Several hedge funds and other institutional investors have recently modified their holdings of the company. OppenheimerFunds Inc. boosted its position in shares of ICICI Bank by 10.3% in the third quarter. OppenheimerFunds Inc. now owns 80,158,860 shares of the bank’s stock worth $680,547,000 after buying an additional 7,490,600 shares during the period. Baillie Gifford & Co. boosted its position in shares of ICICI Bank by 45.8% in the third quarter. Baillie Gifford & Co. now owns 63,026,111 shares of the bank’s stock worth $535,091,000 after buying an additional 19,805,081 shares during the period. FMR LLC boosted its position in shares of ICICI Bank by 56.2% in the third quarter. FMR LLC now owns 18,441,665 shares of the bank’s stock worth $156,570,000 after buying an additional 6,631,895 shares during the period. ARGA Investment Management LP boosted its position in shares of ICICI Bank by 21.3% in the third quarter. ARGA Investment Management LP now owns 16,616,460 shares of the bank’s stock worth $141,074,000 after buying an additional 2,918,359 shares during the period. Finally, Capital International Investors boosted its position in shares of ICICI Bank by 3.8% in the third quarter. Capital International Investors now owns 13,555,808 shares of the bank’s stock worth $115,089,000 after buying an additional 497,570 shares during the period. 23.62% of the stock is owned by institutional investors.

Shares of NYSE IBN traded down $0.10 during trading on Friday, reaching $10.67. The company had a trading volume of 3,802,131 shares, compared to its average volume of 6,459,438. ICICI Bank has a twelve month low of $7.61 and a twelve month high of $11.26. The stock has a market cap of $34.53 billion, a price-to-earnings ratio of 33.34 and a beta of 1.20.

About ICICI Bank

ICICI Bank Limited, together with its subsidiaries, provides banking and financial services in India and internationally. It operates through Retail Banking, Wholesale Banking, Treasury, Other Banking, Life Insurance, General Insurance, and Others segments. The company offers savings, salary, pension, current, and other accounts; and fixed, recurring, and security deposits.

Featured Story: What is the balance sheet?

Receive News & Ratings for ICICI Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ICICI Bank and related companies with MarketBeat.com's FREE daily email newsletter.