Daiwa Securities Group Inc. lifted its holdings in shares of ICICI Bank Ltd (NYSE:IBN) by 24.5% in the third quarter, according to its most recent filing with the SEC. The firm owned 1,380,200 shares of the bank’s stock after acquiring an additional 271,800 shares during the period. Daiwa Securities Group Inc.’s holdings in ICICI Bank were worth $11,718,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in IBN. Baillie Gifford & Co. lifted its holdings in shares of ICICI Bank by 53.2% during the 2nd quarter. Baillie Gifford & Co. now owns 43,221,030 shares of the bank’s stock worth $347,065,000 after acquiring an additional 15,014,001 shares during the period. OppenheimerFunds Inc. lifted its holdings in shares of ICICI Bank by 10.5% during the 2nd quarter. OppenheimerFunds Inc. now owns 72,668,260 shares of the bank’s stock worth $583,526,000 after acquiring an additional 6,931,319 shares during the period. Hardman Johnston Global Advisors LLC bought a new position in shares of ICICI Bank during the 3rd quarter worth about $34,836,000. ARGA Investment Management LP lifted its holdings in shares of ICICI Bank by 21.3% during the 3rd quarter. ARGA Investment Management LP now owns 16,616,460 shares of the bank’s stock worth $141,074,000 after acquiring an additional 2,918,359 shares during the period. Finally, FMR LLC lifted its holdings in shares of ICICI Bank by 25.2% during the 2nd quarter. FMR LLC now owns 11,809,770 shares of the bank’s stock worth $94,832,000 after acquiring an additional 2,378,440 shares during the period. 22.92% of the stock is owned by institutional investors.
IBN has been the subject of several analyst reports. Zacks Investment Research raised shares of ICICI Bank from a “sell” rating to a “hold” rating in a report on Tuesday, October 9th. ValuEngine raised shares of ICICI Bank from a “sell” rating to a “hold” rating in a report on Monday, July 30th. Finally, JPMorgan Chase & Co. raised shares of ICICI Bank from a “neutral” rating to an “overweight” rating in a report on Monday, October 15th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have given a buy rating to the company’s stock. ICICI Bank presently has a consensus rating of “Hold” and an average price target of $11.00.
Shares of IBN stock opened at $9.59 on Monday. ICICI Bank Ltd has a 12-month low of $7.61 and a 12-month high of $11.26. The stock has a market cap of $30.72 billion, a P/E ratio of 43.59 and a beta of 1.40. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.97.
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.
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