Thornburg Investment Management Inc. increased its position in shares of ICICI Bank Ltd (NYSE:IBN) by 76.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,412,448 shares of the bank’s stock after buying an additional 1,916,870 shares during the period. Thornburg Investment Management Inc. owned 0.15% of ICICI Bank worth $37,947,000 as of its most recent filing with the SEC.
Other institutional investors also recently added to or reduced their stakes in the company. World Asset Management Inc raised its position in ICICI Bank by 8.1% in the third quarter. World Asset Management Inc now owns 194,511 shares of the bank’s stock worth $1,453,000 after buying an additional 14,569 shares during the last quarter. Nordea Investment Management AB raised its position in ICICI Bank by 13.5% in the third quarter. Nordea Investment Management AB now owns 19,129,832 shares of the bank’s stock worth $142,900,000 after buying an additional 2,276,775 shares during the last quarter. Gilder Gagnon Howe & Co. LLC raised its position in ICICI Bank by 35.0% in the third quarter. Gilder Gagnon Howe & Co. LLC now owns 622,903 shares of the bank’s stock worth $4,653,000 after buying an additional 161,661 shares during the last quarter. LMR Partners LLP raised its position in ICICI Bank by 416.3% in the third quarter. LMR Partners LLP now owns 5,138,652 shares of the bank’s stock worth $38,386,000 after buying an additional 4,143,365 shares during the last quarter. Finally, Dalton Investments LLC raised its position in ICICI Bank by 45.4% in the third quarter. Dalton Investments LLC now owns 353,100 shares of the bank’s stock worth $2,638,000 after buying an additional 110,200 shares during the last quarter. Institutional investors and hedge funds own 23.49% of the company’s stock.
Shares of ICICI Bank Ltd (NYSE:IBN) traded up 2.34% during trading on Friday, hitting $9.62. The company had a trading volume of 6,168,828 shares. The stock’s 50-day moving average is $8.87 and its 200 day moving average is $8.26. The firm has a market capitalization of $27.98 billion, a P/E ratio of 17.68 and a beta of 1.82. ICICI Bank Ltd has a 52-week low of $6.58 and a 52-week high of $9.69.
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A number of equities analysts have weighed in on IBN shares. Jefferies Group LLC lowered ICICI Bank from a “buy” rating to a “hold” rating in a research note on Monday, March 6th. Zacks Investment Research upgraded ICICI Bank from a “hold” rating to a “buy” rating and set a $9.25 price objective for the company in a research note on Tuesday, March 7th. Macquarie upgraded ICICI Bank from a “neutral” rating to an “outperform” rating in a research note on Monday, March 20th. Finally, Morgan Stanley lowered ICICI Bank from an “equal weight” rating to an “underweight” rating in a research note on Tuesday, March 21st. One analyst has rated the stock with a sell rating, two have issued a hold rating and three have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $10.00.
ICICI Bank 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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