ICICI Bank Limited (IBN) Shares Gap Down to $0.00

ICICI Bank Limited (NYSE:IBN) shares gapped down before the market opened on Thursday . The stock had previously closed at ($8.75), but opened at $0.00. ICICI Bank Limited shares last traded at $0.00, with a volume of 6099522 shares traded.

A number of brokerages have issued reports on IBN. BidaskClub lowered ICICI Bank Limited from a “buy” rating to a “hold” rating in a research report on Tuesday, June 13th. ValuEngine lowered ICICI Bank Limited from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Zacks Investment Research lowered ICICI Bank Limited from a “buy” rating to a “hold” rating in a research report on Tuesday, June 20th. Finally, Goldman Sachs Group, Inc. (The) upgraded ICICI Bank Limited from a “buy” rating to a “conviction-buy” rating in a research report on Tuesday, June 6th. One investment 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 company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $11.00.

The firm has a market capitalization of $28.03 billion, a P/E ratio of 17.43 and a beta of 1.79. The stock has a 50-day moving average price of $9.19 and a 200 day moving average price of $8.64.

ICICI Bank Limited (NYSE:IBN) last released its quarterly earnings results on Thursday, July 27th. The bank reported $0.10 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.10. The business had revenue of $1.39 billion for the quarter. ICICI Bank Limited had a return on equity of 8.86% and a net margin of 13.03%. Equities research analysts expect that ICICI Bank Limited will post $0.38 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in IBN. Advisors Asset Management Inc. grew its position in ICICI Bank Limited by 36.1% during the 1st quarter. Advisors Asset Management Inc. now owns 49,581 shares of the bank’s stock worth $426,000 after acquiring an additional 13,148 shares during the last quarter. American Century Companies Inc. bought a new position in ICICI Bank Limited in the 1st quarter valued at $101,000. DekaBank Deutsche Girozentrale boosted its position in ICICI Bank Limited by 27.8% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 23,000 shares of the bank’s stock valued at $200,000 after buying an additional 5,000 shares during the last quarter. Comerica Bank boosted its position in ICICI Bank Limited by 10.9% in the 1st quarter. Comerica Bank now owns 205,344 shares of the bank’s stock valued at $1,735,000 after buying an additional 20,172 shares during the last quarter. Finally, Pictet Asset Management Ltd. boosted its position in ICICI Bank Limited by 3.6% in the 1st quarter. Pictet Asset Management Ltd. now owns 195,765 shares of the bank’s stock valued at $1,684,000 after buying an additional 6,748 shares during the last quarter. Institutional investors and hedge funds own 21.65% of the company’s stock.

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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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