First Trust Advisors LP Has $29.52 Million Position in ICICI Bank Ltd (IBN)

First Trust Advisors LP cut its stake in shares of ICICI Bank Ltd (NYSE:IBN) by 10.6% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 3,476,877 shares of the bank’s stock after selling 412,399 shares during the quarter. First Trust Advisors LP’s holdings in ICICI Bank were worth $29,519,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of IBN. Baillie Gifford & Co. boosted its holdings in ICICI Bank by 53.2% during the 2nd quarter. Baillie Gifford & Co. now owns 43,221,030 shares of the bank’s stock valued at $347,065,000 after acquiring an additional 15,014,001 shares during the period. OppenheimerFunds Inc. boosted its holdings in ICICI Bank by 10.5% during the 2nd quarter. OppenheimerFunds Inc. now owns 72,668,260 shares of the bank’s stock valued at $583,526,000 after acquiring an additional 6,931,319 shares during the period. Hardman Johnston Global Advisors LLC purchased a new stake in ICICI Bank during the 3rd quarter valued at about $34,836,000. FMR LLC boosted its holdings in ICICI Bank by 25.2% during the 2nd quarter. FMR LLC now owns 11,809,770 shares of the bank’s stock valued at $94,832,000 after acquiring an additional 2,378,440 shares during the period. Finally, Pzena Investment Management LLC boosted its holdings in ICICI Bank by 457.9% during the 2nd quarter. Pzena Investment Management LLC now owns 2,488,980 shares of the bank’s stock valued at $19,987,000 after acquiring an additional 2,042,875 shares during the period. Institutional investors own 22.88% of the company’s stock.

A number of research firms have commented on IBN. ValuEngine raised ICICI Bank from a “sell” rating to a “hold” rating in a research report on Monday, July 30th. Zacks Investment Research lowered ICICI Bank from a “hold” rating to a “sell” rating in a research report on Monday, August 13th. Finally, JPMorgan Chase & Co. raised ICICI Bank from a “neutral” rating to an “overweight” rating in a research report on Monday, October 15th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $11.00.

IBN opened at $9.59 on Friday. The company has a market cap of $30.72 billion, a price-to-earnings ratio of 43.59 and a beta of 1.40. The company has a debt-to-equity ratio of 1.97, a current ratio of 1.12 and a quick ratio of 1.12. ICICI Bank Ltd has a one year low of $7.61 and a one year high of $11.26.

ICICI Bank Profile

ICICI Bank Limited, together with its subsidiaries, provides banking and financial services in India and internationally. It operates through Retail Banking, Wholesale Banking, Treasury, Other Banking, Life Insurance, General Insurance, and Others segments. The company offers savings, salary, pension, current, and other accounts; and fixed, recurring, and security deposits.

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

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