New York State Common Retirement Fund purchased a new position in ICICI Bank Limited (NYSE:IBN) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 457,128 shares of the bank’s stock, valued at approximately $4,100,000.
Other large investors have also recently made changes to their positions in the company. BlackRock Inc. increased its position in shares of ICICI Bank Limited by 9,570.9% during the first quarter. BlackRock Inc. now owns 16,350,196 shares of the bank’s stock valued at $140,610,000 after acquiring an additional 16,181,130 shares during the last quarter. BT Investment Management Ltd purchased a new stake in ICICI Bank Limited in the second quarter worth $86,396,000. LMR Partners LLP increased its position in ICICI Bank Limited by 102.2% in the second quarter. LMR Partners LLP now owns 12,055,375 shares of the bank’s stock worth $108,324,000 after buying an additional 6,091,901 shares during the last quarter. Rockefeller Financial Services Inc. increased its position in ICICI Bank Limited by 5,881.7% in the second quarter. Rockefeller Financial Services Inc. now owns 4,429,335 shares of the bank’s stock worth $39,731,000 after buying an additional 4,355,287 shares during the last quarter. Finally, AQR Capital Management LLC increased its position in ICICI Bank Limited by 77.4% in the first quarter. AQR Capital Management LLC now owns 9,125,322 shares of the bank’s stock worth $78,478,000 after buying an additional 3,981,894 shares during the last quarter. Institutional investors and hedge funds own 21.73% of the company’s stock.
IBN has been the subject of a number of analyst reports. BidaskClub raised ICICI Bank Limited from a “hold” rating to a “buy” rating in a report on Wednesday, August 2nd. Zacks Investment Research upgraded ICICI Bank Limited from a “hold” rating to a “buy” rating and set a $9.50 price target on the stock in a research report on Tuesday, September 26th. ValuEngine upgraded ICICI Bank Limited from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Finally, Morgan Stanley upgraded ICICI Bank Limited from an “underweight” rating to an “overweight” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $9.50.
ICICI Bank Limited (NYSE IBN) opened at 8.82 on Friday. ICICI Bank Limited has a one year low of $6.69 and a one year high of $9.85. The stock has a market cap of $28.25 billion, a P/E ratio of 17.57 and a beta of 1.70. The company’s 50-day moving average price is $8.64 and its 200-day moving average price is $8.78.
ICICI Bank Limited (NYSE:IBN) last announced 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 net margin of 13.03% and a return on equity of 8.86%. The company had revenue of $1.39 billion during the quarter. Analysts forecast that ICICI Bank Limited will post $0.38 EPS for the current fiscal year.
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ICICI Bank Limited Profile
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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