Driehaus Capital Management LLC boosted its stake in ICICI Bank (NYSE:IBN) by 145.7% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 31,852 shares of the bank’s stock after purchasing an additional 18,889 shares during the period. Driehaus Capital Management LLC’s holdings in ICICI Bank were worth $310,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of the stock. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in ICICI Bank by 0.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,706,620 shares of the bank’s stock valued at $14,609,000 after purchasing an additional 5,364 shares during the last quarter. Baldwin Investment Management LLC increased its holdings in ICICI Bank by 10.4% in the 3rd quarter. Baldwin Investment Management LLC now owns 67,425 shares of the bank’s stock valued at $577,000 after purchasing an additional 6,352 shares during the last quarter. Daiwa SB Investments Ltd. increased its holdings in ICICI Bank by 52.7% in the 4th quarter. Daiwa SB Investments Ltd. now owns 23,180 shares of the bank’s stock valued at $226,000 after purchasing an additional 8,000 shares during the last quarter. US Bancorp DE boosted its position in ICICI Bank by 1.7% in the 4th quarter. US Bancorp DE now owns 561,027 shares of the bank’s stock valued at $5,458,000 after buying an additional 9,144 shares during the period. Finally, Sumitomo Life Insurance Co. boosted its position in ICICI Bank by 10.7% in the 4th quarter. Sumitomo Life Insurance Co. now owns 97,390 shares of the bank’s stock valued at $948,000 after buying an additional 9,400 shares during the period. Hedge funds and other institutional investors own 21.81% of the company’s stock.
IBN stock traded down $0.13 during midday trading on Friday, hitting $8.42. The company’s stock had a trading volume of 10,088,336 shares, compared to its average volume of 8,459,120. ICICI Bank has a 52-week low of $7.48 and a 52-week high of $11.26. The stock has a market capitalization of $26,973.15, a PE ratio of 18.71, a P/E/G ratio of 0.74 and a beta of 1.89.
IBN has been the subject of several recent research reports. Zacks Investment Research raised shares of ICICI Bank from a “sell” rating to a “hold” rating in a research report on Friday, December 29th. Morgan Stanley initiated coverage on shares of ICICI Bank in a research report on Tuesday, January 16th. They issued an “overweight” rating for the company. Finally, ValuEngine cut shares of ICICI Bank from a “buy” rating to a “hold” rating in a research report on Wednesday, March 7th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. ICICI Bank currently has an average rating of “Buy” and a consensus price target of $11.00.
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ICICI Bank 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, other accounts; and fixed, recurring, and security deposits.
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