GLG Partners LP Increases Stake in ICICI Bank Limited (IBN)
GLG Partners LP lifted its holdings in ICICI Bank Limited (NYSE:IBN) by 19.4% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 556,787 shares of the bank’s stock after buying an additional 90,472 shares during the quarter. GLG Partners LP’s holdings in ICICI Bank Limited were worth $4,994,000 at the end of the most recent quarter.
Several other institutional investors have also added to or reduced their stakes in the stock. Ronald Blue & Co. LLC acquired a new position in shares of ICICI Bank Limited during the second quarter worth approximately $100,000. American Century Companies Inc. acquired a new position in shares of ICICI Bank Limited during the first quarter valued at $101,000. Smithfield Trust Co. boosted its holdings in ICICI Bank Limited by 9.0% in the second quarter. Smithfield Trust Co. now owns 11,775 shares of the bank’s stock valued at $106,000 after acquiring an additional 968 shares during the last quarter. CAPROCK Group Inc. bought a new position in ICICI Bank Limited in the second quarter valued at about $107,000. Finally, YorkBridge Wealth Partners LLC boosted its holdings in ICICI Bank Limited by 14.3% in the second quarter. YorkBridge Wealth Partners LLC now owns 12,381 shares of the bank’s stock valued at $111,000 after acquiring an additional 1,553 shares during the last quarter. 21.68% of the stock is owned by institutional investors and hedge funds.
A number of research firms recently commented on IBN. Zacks Investment Research upgraded ICICI Bank Limited from a “hold” rating to a “buy” rating and set a $9.50 price objective for the company in a report on Tuesday, September 26th. Goldman Sachs Group, Inc. (The) upgraded ICICI Bank Limited from a “buy” rating to a “conviction-buy” rating in a research report on Tuesday, June 6th. BidaskClub upgraded ICICI Bank Limited from a “hold” rating to a “buy” rating in a research report on Friday, June 23rd. Finally, ValuEngine downgraded shares of ICICI Bank Limited from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. One research analyst has rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $9.50.
ICICI Bank Limited (NYSE IBN) traded down 0.35% during trading on Monday, hitting $8.53. The stock had a trading volume of 1,092,627 shares. The firm has a market capitalization of $27.33 billion, a P/E ratio of 16.99 and a beta of 1.71. ICICI Bank Limited has a one year low of $6.43 and a one year high of $9.85. The stock has a 50 day moving average of $9.19 and a 200 day moving average of $8.64.
ICICI Bank Limited (NYSE:IBN) last posted its quarterly earnings data on Thursday, July 27th. The bank reported $0.10 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.10. The firm had revenue of $1.39 billion during the quarter. ICICI Bank Limited had a return on equity of 8.86% and a net margin of 13.03%. Equities research analysts expect that ICICI Bank Limited will post $0.38 earnings per share for the current fiscal year.
ICICI Bank Limited Company 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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