Stock Traders Purchase Large Volume of ICICI Bank Put Options (IBN)

ICICI Bank Ltd (NYSE:IBN) was the recipient of unusually large options trading on Thursday. Traders bought 13,241 put options on the stock. This is an increase of 4,498% compared to the average volume of 288 put options.

Hedge funds have recently modified their holdings of the business. Credit Suisse AG boosted its position in ICICI Bank by 36.0% during the third quarter. Credit Suisse AG now owns 1,716,666 shares of the bank’s stock worth $14,575,000 after purchasing an additional 454,155 shares in the last quarter. MML Investors Services LLC boosted its position in ICICI Bank by 38.5% during the third quarter. MML Investors Services LLC now owns 20,456 shares of the bank’s stock worth $174,000 after purchasing an additional 5,684 shares in the last quarter. Navellier & Associates Inc boosted its position in ICICI Bank by 53.5% during the fourth quarter. Navellier & Associates Inc now owns 6,649 shares of the bank’s stock worth $68,000 after purchasing an additional 2,317 shares in the last quarter. Pendal Group Ltd boosted its position in ICICI Bank by 1.5% during the fourth quarter. Pendal Group Ltd now owns 7,842,328 shares of the bank’s stock worth $84,519,000 after purchasing an additional 116,264 shares in the last quarter. Finally, M&T Bank Corp boosted its position in ICICI Bank by 222.8% during the fourth quarter. M&T Bank Corp now owns 41,132 shares of the bank’s stock worth $423,000 after purchasing an additional 28,389 shares in the last quarter. Institutional investors own 23.19% of the company’s stock.

Several analysts recently commented on the company. Sanford C. Bernstein raised ICICI Bank from an “underperform” rating to a “market perform” rating in a report on Monday, February 4th. ValuEngine downgraded ICICI Bank from a “sell” rating to a “strong sell” rating in a research report on Friday, January 11th. HSBC downgraded ICICI Bank from a “buy” rating to a “hold” rating in a research report on Friday, November 23rd. Finally, Zacks Investment Research upgraded ICICI Bank from a “hold” rating to a “strong-buy” rating and set a $12.00 price target on the stock in a research report on Friday, January 11th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $12.00.

Shares of IBN stock opened at $11.10 on Friday. The company has a market cap of $35.56 billion, a price-to-earnings ratio of 34.69 and a beta of 0.95. ICICI Bank has a 12-month low of $7.61 and a 12-month high of $11.22.

WARNING: “Stock Traders Purchase Large Volume of ICICI Bank Put Options (IBN)” was originally posted by Markets Daily and is owned by of Markets Daily. If you are viewing this article on another domain, it was illegally stolen and republished in violation of international copyright & trademark legislation. The original version of this article can be accessed at https://www.themarketsdaily.com/2019/03/15/stock-traders-purchase-large-volume-of-icici-bank-put-options-ibn.html.

ICICI Bank Company Profile

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.

Featured Story: The benefits and drawbacks of dollar cost averaging

Receive News & Ratings for ICICI Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ICICI Bank and related companies with MarketBeat.com's FREE daily email newsletter.