River & Mercantile Asset Management LLP bought a new stake in ICICI Bank Ltd (NYSE:IBN) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 285,900 shares of the bank’s stock, valued at approximately $2,143,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Dodge & Cox purchased a new stake in ICICI Bank during the fourth quarter worth $14,420,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in ICICI Bank during the fourth quarter worth $3,852,000. United Capital Financial Advisers LLC boosted its stake in ICICI Bank by 24.6% in the fourth quarter. United Capital Financial Advisers LLC now owns 17,161 shares of the bank’s stock worth $129,000 after buying an additional 3,392 shares in the last quarter. Horizon Kinetics LLC purchased a new stake in ICICI Bank during the fourth quarter worth $168,000. Finally, Guggenheim Capital LLC boosted its stake in ICICI Bank by 17.1% in the fourth quarter. Guggenheim Capital LLC now owns 362,065 shares of the bank’s stock worth $2,712,000 after buying an additional 52,755 shares in the last quarter. Institutional investors own 23.49% of the company’s stock.

Institutional Ownership by Quarter for ICICI Bank (NYSE:IBN)

ICICI Bank Ltd (NYSE:IBN) traded down 2.12% during trading on Thursday, reaching $8.31. 14,107,058 shares of the company’s stock were exchanged. The stock has a market capitalization of $24.16 billion, a PE ratio of 15.45 and a beta of 1.82. ICICI Bank Ltd has a 52 week low of $6.30 and a 52 week high of $8.89. The stock has a 50-day moving average of $8.51 and a 200-day moving average of $8.08.

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A number of research firms have recently weighed in on IBN. Morgan Stanley cut shares of ICICI Bank from an “equal weight” rating to an “underweight” rating in a report on Tuesday, March 21st. Macquarie raised shares of ICICI Bank from a “neutral” rating to an “outperform” rating in a research report on Monday, March 20th. Zacks Investment Research lowered shares of ICICI Bank from a “buy” rating to a “hold” rating in a research report on Wednesday, March 8th. Finally, Jefferies Group LLC lowered shares of ICICI Bank from a “buy” rating to a “hold” rating in a research report on Monday, March 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $9.25.

About ICICI Bank

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.

5 Day Chart for NYSE:IBN

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