ICICI Bank Limited (NYSE:IBN) was upgraded by research analysts at ValuEngine from a “hold” rating to a “buy” rating in a note issued to investors on Friday.

A number of other analysts also recently issued reports on IBN. BidaskClub downgraded ICICI Bank Limited from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. Zacks Investment Research downgraded ICICI Bank Limited from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. Finally, Goldman Sachs Group, Inc. (The) raised ICICI Bank Limited from a “buy” rating to a “conviction-buy” rating in a research note on Tuesday, June 6th. One analyst has rated the stock with a sell rating, two have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. ICICI Bank Limited presently has an average rating of “Buy” and an average price target of $11.00.

ICICI Bank Limited (IBN) opened at 9.40 on Friday. ICICI Bank Limited has a 52-week low of $6.42 and a 52-week high of $9.85. The company has a market cap of $30.11 billion, a PE ratio of 18.80 and a beta of 1.77. The firm’s 50-day moving average is $9.28 and its 200-day moving average is $8.51.

ICICI Bank Limited (NYSE:IBN) last issued its earnings results on Thursday, July 27th. The bank reported $0.10 earnings per share (EPS) for the quarter, hitting 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 business had revenue of $1.39 billion during the quarter. On average, equities research analysts anticipate that ICICI Bank Limited will post $0.38 EPS for the current year.

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Several hedge funds have recently modified their holdings of IBN. Archford Capital Strategies LLC increased its stake in shares of ICICI Bank Limited by 8,057.4% in the second quarter. Archford Capital Strategies LLC now owns 9,381 shares of the bank’s stock worth $562,000 after buying an additional 9,266 shares during the last quarter. Ronald Blue & Co. LLC acquired a new stake in shares of ICICI Bank Limited during the second quarter worth about $100,000. Smithfield Trust Co. increased its stake in shares of ICICI Bank Limited by 9.0% in the second quarter. Smithfield Trust Co. now owns 11,775 shares of the bank’s stock worth $106,000 after buying an additional 968 shares during the last quarter. CAPROCK Group Inc. acquired a new stake in shares of ICICI Bank Limited during the second quarter worth about $107,000. Finally, American Century Companies Inc. acquired a new stake in shares of ICICI Bank Limited during the first quarter worth about $101,000. 21.66% of the stock is owned by hedge funds and other institutional investors.

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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