OLD National Bancorp IN held its stake in ICICI Bank Limited (NYSE:IBN) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,319 shares of the bank’s stock at the end of the second quarter. OLD National Bancorp IN’s holdings in ICICI Bank Limited were worth $182,000 as of its most recent SEC filing.
Several other hedge funds have also bought and sold shares of IBN. Sumitomo Life Insurance Co. increased its stake in ICICI Bank Limited by 66.1% in the first quarter. Sumitomo Life Insurance Co. now owns 68,600 shares of the bank’s stock worth $590,000 after buying an additional 27,300 shares during the period. Polaris Greystone Financial Group LLC increased its stake in ICICI Bank Limited by 4.4% in the first quarter. Polaris Greystone Financial Group LLC now owns 109,129 shares of the bank’s stock worth $939,000 after buying an additional 4,593 shares during the period. Profund Advisors LLC increased its stake in ICICI Bank Limited by 8.9% in the first quarter. Profund Advisors LLC now owns 141,528 shares of the bank’s stock worth $1,217,000 after buying an additional 11,540 shares during the period. Candriam Luxembourg S.C.A. increased its stake in ICICI Bank Limited by 1,000.0% in the first quarter. Candriam Luxembourg S.C.A. now owns 132,000 shares of the bank’s stock worth $1,135,000 after buying an additional 120,000 shares during the period. Finally, Bank of The West acquired a new stake in ICICI Bank Limited during the first quarter worth $208,000. Hedge funds and other institutional investors own 21.22% of the company’s stock.
Shares of ICICI Bank Limited (NYSE:IBN) traded up 0.33% during trading on Friday, reaching $9.04. The company had a trading volume of 3,345,083 shares. ICICI Bank Limited has a 12 month low of $6.43 and a 12 month high of $9.85. The stock’s 50-day moving average price is $9.19 and its 200-day moving average price is $8.39. The stock has a market capitalization of $28.96 billion, a PE ratio of 18.01 and a beta of 1.77.
ICICI Bank Limited (NYSE:IBN) last posted its earnings results on Thursday, July 27th. The bank reported $0.10 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.10. ICICI Bank Limited had a return on equity of 8.86% and a net margin of 13.03%. The company had revenue of $1.39 billion for the quarter. Equities analysts forecast that ICICI Bank Limited will post $0.38 earnings per share for the current fiscal year.
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A number of research firms recently weighed in on IBN. Zacks Investment Research upgraded ICICI Bank Limited from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a research note on Wednesday, June 7th. Goldman Sachs Group, Inc. (The) upgraded ICICI Bank Limited from a “buy” rating to a “conviction-buy” rating in a research note on Tuesday, June 6th. BidaskClub downgraded ICICI Bank Limited from a “buy” rating to a “hold” rating in a research note on Tuesday, June 13th. Finally, ValuEngine downgraded ICICI Bank Limited from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has given a strong buy rating to the company’s stock. ICICI Bank Limited presently has a consensus rating of “Hold” and an average target price of $11.00.
About ICICI Bank Limited
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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