ICICI Bank (NYSE:IBN) has been upgraded from Neutral to Outperform in a report by Macquarie today.
- Updated: March 20, 2017
Macquarie has upgraded ICICI Bank (NYSE:IBN) from Neutral to Outperform in a statement released on Monday March 20, 2017.
Yesterday ICICI Bank (NYSE:IBN) traded 0.59% higher at $8.43. ICICI Bank’s 50-day moving average is $8.38 and its 200-day moving average is $7.98. The last closing price is up 6.26% from the 200-day average, compared with the Standard & Poor's 500 Index which has increased 0.04% over the same period. Trade Volume was down over the average, with 1,295,275 shares of IBN changing hands under the typical 7,277,220
Recent Performance Chart
ICICI Bank has price-earnings ratio of 16.25 with a one year low of $6.30 and a one year high of $8.81 and has a total market value of $0.
A total of 1 equity analyst has released a ratings update on IBN. One equity analyst rating the company a strong buy, zero equity analysts rating the company a buy, zero equity analysts rating the company a hold, zero equity analysts rating the company a underperform, and finally zero equity analysts rating the company a sell with a one year target of $9.70.
Brief Synopsis About ICICI Bank (NYSE:IBN)
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. The Bank's business segments are Retail banking, Wholesale banking, Treasury, Other banking, Life insurance, General insurance and Others. It has a network of approximately 18,210 branches and automated teller machines (ATMs). The Bank has approximately 110 Touch Banking branches across over 30 cities. Its international banking is focused on providing solutions for the international banking requirements of its Indian corporate clients and leveraging economic corridors between India and the rest of the world. The Bank caters to the financial needs of women entrepreneurs through its Self-Help Group (SHG) program as a part of its microfinance initiatives.
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