ICICI Bank (NYSE:IBN) Shares Gap Up to $13.45

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ICICI Bank Ltd (NYSE:IBN)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $13.18, but opened at $13.45. ICICI Bank shares last traded at $13.59, with a volume of 6,847,684 shares.

Separately, ValuEngine raised shares of ICICI Bank from a “strong sell” rating to a “sell” rating in a research note on Friday, October 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $12.00.

The business’s 50 day moving average is $12.57 and its 200 day moving average is $11.93. The company has a debt-to-equity ratio of 1.65, a quick ratio of 1.04 and a current ratio of 1.04. The stock has a market cap of $43.94 billion, a price-to-earnings ratio of 90.60 and a beta of 0.79.

Institutional investors have recently bought and sold shares of the stock. Exane Derivatives boosted its stake in ICICI Bank by 89.3% in the 2nd quarter. Exane Derivatives now owns 2,396 shares of the bank’s stock worth $30,000 after purchasing an additional 1,130 shares during the period. Advisory Services Network LLC boosted its stake in shares of ICICI Bank by 637.2% during the 2nd quarter. Advisory Services Network LLC now owns 2,757 shares of the bank’s stock valued at $35,000 after buying an additional 2,383 shares during the period. Mizuho Securities Co. Ltd. acquired a new stake in shares of ICICI Bank during the 2nd quarter valued at $35,000. Cutler Group LP acquired a new stake in shares of ICICI Bank during the 3rd quarter valued at $48,000. Finally, Parallel Advisors LLC boosted its stake in shares of ICICI Bank by 299.7% during the 3rd quarter. Parallel Advisors LLC now owns 4,477 shares of the bank’s stock valued at $55,000 after buying an additional 3,357 shares during the period. 21.27% of the stock is owned by hedge funds and other institutional investors.

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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