ICICI Bank Ltd (NYSE:IBN) shares rose 6.1% during mid-day trading on Monday . The company traded as high as $12.64 and last traded at $12.58, approximately 15,214,170 shares changed hands during trading. An increase of 118% from the average daily volume of 6,971,415 shares. The stock had previously closed at $11.86.

IBN has been the subject of a number of research reports. ValuEngine upgraded shares of ZIX from a “buy” rating to a “strong-buy” rating in a research report on Saturday, May 4th. Goldman Sachs Group set a GBX 4,300 ($56.19) target price on shares of ASOS and gave the stock a “buy” rating in a research report on Monday, April 15th. Finally, Zacks Investment Research cut shares of Glu Mobile from a “buy” rating to a “hold” rating in a research report on Tuesday, April 9th. Four investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and a consensus target price of $12.00.

The stock has a market cap of $40.53 billion, a price-to-earnings ratio of 83.87 and a beta of 0.81. The firm has a fifty day moving average price of $12.20.

ICICI Bank (NYSE:IBN) last issued its quarterly earnings results on Monday, May 6th. The bank reported $0.04 EPS for the quarter, hitting analysts’ consensus estimates of $0.04. The business had revenue of $1.63 billion during the quarter, compared to the consensus estimate of $1.62 billion. ICICI Bank had a net margin of 4.29% and a return on equity of 2.75%. As a group, analysts expect that ICICI Bank Ltd will post 0.67 EPS for the current year.

Hedge funds and other institutional investors have recently modified their holdings of the company. Exane Derivatives grew its holdings in shares of ICICI Bank by 89.3% during the second quarter. Exane Derivatives now owns 2,396 shares of the bank’s stock worth $30,000 after buying an additional 1,130 shares in the last quarter. Cullen Frost Bankers Inc. purchased a new stake in shares of ICICI Bank during the first quarter worth about $32,000. Steward Partners Investment Advisory LLC purchased a new stake in shares of ICICI Bank during the second quarter worth about $63,000. Lindbrook Capital LLC grew its holdings in shares of ICICI Bank by 21.3% during the first quarter. Lindbrook Capital LLC now owns 5,469 shares of the bank’s stock worth $62,000 after buying an additional 962 shares in the last quarter. Finally, Atlas Capital Advisors LLC grew its holdings in shares of ICICI Bank by 606.1% during the second quarter. Atlas Capital Advisors LLC now owns 9,313 shares of the bank’s stock worth $117,000 after buying an additional 7,994 shares in the last quarter. Institutional investors and hedge funds own 22.66% of the company’s stock.

ICICI Bank Company Profile (NYSE:IBN)

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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