Rockefeller Financial Services Inc. boosted its position in shares of ICICI Bank Limited (NYSE:IBN) by 5,881.7% during the second quarter, Holdings Channel reports. The institutional investor owned 4,429,335 shares of the bank’s stock after buying an additional 4,355,287 shares during the period. Rockefeller Financial Services Inc.’s holdings in ICICI Bank Limited were worth $39,731,000 as of its most recent SEC filing.
A number of other hedge funds 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 worth 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 worth $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 worth $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 worth $120,000 after buying an additional 699 shares in the last quarter. Finally, HighTower Advisors LLC increased its position in ICICI Bank Limited by 2.4% in the first quarter. HighTower Advisors LLC now owns 16,476 shares of the bank’s stock worth $144,000 after buying an additional 384 shares in the last quarter. 20.48% of the stock is owned by institutional investors.
Shares of ICICI Bank Limited (IBN) traded down 0.054% during mid-day trading on Tuesday, hitting $9.325. The stock had a trading volume of 5,850,305 shares. The company has a market capitalization of $29.87 billion, a P/E ratio of 19.109 and a beta of 1.77. ICICI Bank Limited has a 1-year low of $6.42 and a 1-year high of $9.41. The stock’s 50-day moving average price is $8.84 and its 200 day moving average price is $7.85.
The business also recently declared a None dividend, which was paid on Monday, July 3rd. Stockholders of record on Wednesday, June 21st were paid a $0.077 dividend. The ex-dividend date was Monday, June 19th. ICICI Bank Limited’s payout ratio is 17.96%.
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Several brokerages have commented on IBN. Zacks Investment Research upgraded ICICI Bank Limited from a “hold” rating to a “buy” rating and set a $11.00 price target on the stock in a report on Wednesday, June 7th. BidaskClub raised ICICI Bank Limited from a “hold” rating to a “buy” rating in a research report on Friday, June 23rd. Goldman Sachs Group, Inc. (The) raised ICICI Bank Limited from a “buy” rating to a “conviction-buy” rating in a research report on Tuesday, June 6th. Macquarie raised ICICI Bank Limited from a “neutral” rating to an “outperform” rating in a research report on Monday, March 20th. Finally, Morgan Stanley cut ICICI Bank Limited from an “equal weight” rating to an “underweight” rating in a research report on Tuesday, March 21st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $11.00.
About ICICI Bank Limited
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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