Pictet Asset Management Ltd. Sells 93,160 Shares of ICICI Bank Limited (IBN)

Pictet Asset Management Ltd. trimmed its holdings in ICICI Bank Limited (NYSE:IBN) by 45.7% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 110,469 shares of the bank’s stock after selling 93,160 shares during the period. Pictet Asset Management Ltd.’s holdings in ICICI Bank Limited were worth $946,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Parsec Financial Management Inc. acquired a new stake in shares of ICICI Bank Limited in the third quarter valued at about $1,015,000. State of New Jersey Common Pension Fund D raised its position in shares of ICICI Bank Limited by 62.3% in the third quarter. State of New Jersey Common Pension Fund D now owns 1,488,261 shares of the bank’s stock valued at $12,739,000 after buying an additional 571,283 shares during the last quarter. Aperio Group LLC raised its position in shares of ICICI Bank Limited by 7.4% in the third quarter. Aperio Group LLC now owns 939,624 shares of the bank’s stock valued at $8,043,000 after buying an additional 65,121 shares during the last quarter. Somerset Capital Management LLP raised its position in shares of ICICI Bank Limited by 2.6% in the third quarter. Somerset Capital Management LLP now owns 6,102,953 shares of the bank’s stock valued at $52,241,000 after buying an additional 154,444 shares during the last quarter. Finally, First Trust Advisors LP increased its position in ICICI Bank Limited by 17.4% during the third quarter. First Trust Advisors LP now owns 2,714,502 shares of the bank’s stock worth $23,236,000 after purchasing an additional 403,142 shares during the last quarter. Institutional investors and hedge funds own 21.87% of the company’s stock.

Several equities research analysts recently issued reports on IBN shares. BidaskClub upgraded shares of ICICI Bank Limited from a “hold” rating to a “buy” rating in a research report on Saturday, August 26th. Morgan Stanley upgraded shares of ICICI Bank Limited from an “underweight” rating to an “overweight” rating in a research report on Wednesday, October 25th. Zacks Investment Research upgraded shares of ICICI Bank Limited from a “hold” rating to a “buy” rating and set a $9.50 price objective for the company in a research report on Tuesday, September 26th. ValuEngine cut shares of ICICI Bank Limited from a “buy” rating to a “hold” rating in a research report on Wednesday, September 27th. Finally, Jefferies Group LLC upgraded shares of ICICI Bank Limited from a “hold” rating to a “buy” rating in a research report on Monday, October 30th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $9.50.

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Shares of ICICI Bank Limited (IBN) opened at $9.53 on Wednesday. ICICI Bank Limited has a 12-month low of $6.69 and a 12-month high of $9.85. The stock has a market cap of $30,304.75, a PE ratio of 23.65, a P/E/G ratio of 0.98 and a beta of 1.73. The company has a debt-to-equity ratio of 1.72, a quick ratio of 1.16 and a current ratio of 1.16.

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

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