ICICI Bank Ltd (NYSE:IBN) was the recipient of unusually large options trading on Thursday. Stock traders acquired 13,241 put options on the company. This represents an increase of approximately 4,498% compared to the typical volume of 288 put options.

A number of research firms have weighed in on IBN. Sanford C. Bernstein upgraded ICICI Bank from an “underperform” rating to a “market perform” rating in a report on Monday, February 4th. ValuEngine cut ICICI Bank from a “sell” rating to a “strong sell” rating in a report on Monday, February 4th. Zacks Investment Research upgraded ICICI Bank from a “hold” rating to a “strong-buy” rating and set a $12.00 price target for the company in a report on Friday, January 11th. Finally, HSBC cut ICICI Bank from a “buy” rating to a “hold” rating in a report on Friday, November 23rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $12.00.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IBN. Rehmann Capital Advisory Group boosted its stake in shares of ICICI Bank by 28.3% during the 4th quarter. Rehmann Capital Advisory Group now owns 6,069 shares of the bank’s stock valued at $62,000 after buying an additional 1,339 shares during the last quarter. BB&T Securities LLC boosted its stake in shares of ICICI Bank by 13.7% during the 4th quarter. BB&T Securities LLC now owns 16,223 shares of the bank’s stock valued at $166,000 after buying an additional 1,950 shares during the last quarter. Suntrust Banks Inc. boosted its stake in shares of ICICI Bank by 4.6% during the 4th quarter. Suntrust Banks Inc. now owns 48,084 shares of the bank’s stock valued at $495,000 after buying an additional 2,115 shares during the last quarter. Comerica Securities Inc. boosted its stake in shares of ICICI Bank by 15.4% during the 4th quarter. Comerica Securities Inc. now owns 16,384 shares of the bank’s stock valued at $169,000 after buying an additional 2,181 shares during the last quarter. Finally, Raymond James Financial Services Advisors Inc. lifted its stake in ICICI Bank by 16.4% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 15,716 shares of the bank’s stock worth $162,000 after purchasing an additional 2,212 shares during the last quarter. Hedge funds and other institutional investors own 23.19% of the company’s stock.

NYSE IBN opened at $11.10 on Friday. The company has a market capitalization of $35.56 billion, a price-to-earnings ratio of 34.69 and a beta of 0.95. ICICI Bank has a fifty-two week low of $7.61 and a fifty-two week high of $11.22.

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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.

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