BlackRock Inc. boosted its stake in shares of ICICI Bank Limited (NYSE:IBN) by 9,570.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,350,196 shares of the bank’s stock after buying an additional 16,181,130 shares during the period. BlackRock Inc. owned 0.56% of ICICI Bank Limited worth $140,610,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the stock. American Century Companies Inc. purchased a new position in ICICI Bank Limited during the first quarter valued at approximately $101,000. Atria Investments LLC increased its position in ICICI Bank Limited by 11.0% in the first quarter. Atria Investments LLC now owns 13,729 shares of the bank’s stock valued at $118,000 after buying an additional 1,363 shares in the last quarter. Daiwa SB Investments Ltd. increased its position in ICICI Bank Limited by 8.7% in the first quarter. Daiwa SB Investments Ltd. now owns 13,800 shares of the bank’s stock valued at $119,000 after buying an additional 1,100 shares in the last quarter. Gilder Gagnon Howe & Co. LLC increased its position in ICICI Bank Limited by 5.3% in the first quarter. Gilder Gagnon Howe & Co. LLC now owns 13,956 shares of the bank’s stock valued at $120,000 after buying an additional 699 shares in the last quarter. Finally, Greenleaf Trust purchased a new position in ICICI Bank Limited during the first quarter valued at approximately $162,000. Hedge funds and other institutional investors own 20.84% of the company’s stock.
Shares of ICICI Bank Limited (IBN) opened at 8.90 on Friday. ICICI Bank Limited has a 1-year low of $6.43 and a 1-year high of $9.85. The firm has a market cap of $28.51 billion, a PE ratio of 17.80 and a beta of 1.77. The company’s 50-day moving average price is $9.18 and its 200 day moving average price is $8.32.
ICICI Bank Limited (NYSE:IBN) last released its earnings results on Thursday, July 27th. The bank reported $0.10 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.10. ICICI Bank Limited had a return on equity of 8.86% and a net margin of 13.03%. The company had revenue of $1.39 billion during the quarter. On average, analysts predict that ICICI Bank Limited will post $0.38 EPS for the current year.
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IBN has been the subject of several recent research reports. BidaskClub raised ICICI Bank Limited from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. Zacks Investment Research raised ICICI Bank Limited from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a research note on Wednesday, June 7th. Goldman Sachs Group, Inc. (The) raised ICICI Bank Limited from a “buy” rating to a “conviction-buy” rating in a research note on Tuesday, June 6th. Finally, ValuEngine cut ICICI Bank Limited from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. One analyst has rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. ICICI Bank Limited presently has a consensus rating of “Hold” and a consensus price target of $11.00.
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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