Comerica Bank raised its stake in shares of ICICI Bank Ltd (NYSE:IBN) by 24.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 185,172 shares of the company’s stock after buying an additional 36,883 shares during the period. Comerica Bank’s holdings in ICICI Bank were worth $1,456,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in the stock. BOKF NA acquired a new stake in shares of ICICI Bank during the third quarter valued at about $102,000. Creative Planning raised its stake in shares of ICICI Bank by 216.4% in the third quarter. Creative Planning now owns 16,741 shares of the company’s stock valued at $125,000 after buying an additional 11,450 shares during the period. Pitcairn Co. purchased a new stake in shares of ICICI Bank during the fourth quarter valued at $161,000. Princeton Alpha Management LP raised its stake in shares of ICICI Bank by 143.4% in the third quarter. Princeton Alpha Management LP now owns 26,044 shares of the company’s stock valued at $195,000 after buying an additional 15,346 shares during the period. Finally, Neuberger Berman Group LLC raised its stake in shares of ICICI Bank by 91.6% in the third quarter. Neuberger Berman Group LLC now owns 35,669 shares of the company’s stock valued at $266,000 after buying an additional 17,050 shares during the period. 23.49% of the stock is owned by hedge funds and other institutional investors.
Shares of ICICI Bank Ltd (NYSE:IBN) opened at 8.45 on Tuesday. The company has a 50-day moving average price of $8.38 and a 200 day moving average price of $7.98. The stock has a market cap of $24.57 billion, a price-to-earnings ratio of 16.19 and a beta of 1.82. ICICI Bank Ltd has a one year low of $6.30 and a one year high of $8.81.
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Several equities research analysts recently weighed in on IBN shares. Jefferies Group LLC lowered ICICI Bank from a “buy” rating to a “hold” rating in a report on Monday, March 6th. Zacks Investment Research raised ICICI Bank from a “hold” rating to a “buy” rating and set a $9.25 price objective for the company in a report on Tuesday, March 7th. Finally, Macquarie raised ICICI Bank from a “neutral” rating to an “outperform” rating in a report on Monday. Three equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. ICICI Bank presently has a consensus rating of “Buy” and an average price target of $9.25.
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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