Sei Investments Co. Increases Position in ICICI Bank Limited (IBN)

Sei Investments Co. boosted its stake in shares of ICICI Bank Limited (NYSE:IBN) by 110.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,514,020 shares of the bank’s stock after buying an additional 3,411,961 shares during the period. Sei Investments Co. owned 0.20% of ICICI Bank Limited worth $58,432,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Wellington Management Group LLP raised its stake in ICICI Bank Limited by 8.2% in the first quarter. Wellington Management Group LLP now owns 33,819,375 shares of the bank’s stock valued at $290,846,000 after buying an additional 2,560,119 shares in the last quarter. Black Creek Investment Management Inc. raised its stake in shares of ICICI Bank Limited by 10.2% in the first quarter. Black Creek Investment Management Inc. now owns 26,928,338 shares of the bank’s stock worth $231,584,000 after buying an additional 2,484,955 shares during the period. Earnest Partners LLC raised its stake in shares of ICICI Bank Limited by 5.3% in the first quarter. Earnest Partners LLC now owns 18,952,981 shares of the bank’s stock worth $162,996,000 after buying an additional 945,965 shares during the period. BlackRock Inc. raised its stake in shares of ICICI Bank Limited by 9,570.9% in the first quarter. BlackRock Inc. now owns 16,350,196 shares of the bank’s stock worth $140,610,000 after buying an additional 16,181,130 shares during the period. Finally, Bank of America Corp DE raised its stake in shares of ICICI Bank Limited by 5.0% in the first quarter. Bank of America Corp DE now owns 14,457,155 shares of the bank’s stock worth $124,331,000 after buying an additional 691,671 shares during the period. 20.84% of the stock is currently owned by hedge funds and other institutional investors.

Shares of ICICI Bank Limited (IBN) traded up 1.25% during midday trading on Friday, hitting $8.90. The stock had a trading volume of 4,374,244 shares. The firm has a market cap of $28.51 billion, a price-to-earnings ratio of 17.80 and a beta of 1.77. ICICI Bank Limited has a 12 month low of $6.43 and a 12 month high of $9.85. The stock’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 posted its earnings results on Thursday, July 27th. The bank reported $0.10 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.10. The company had revenue of $1.39 billion during the quarter. ICICI Bank Limited had a return on equity of 8.86% and a net margin of 13.03%. On average, equities analysts forecast that ICICI Bank Limited will post $0.38 EPS for the current fiscal year.

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IBN has been the topic of a number of analyst reports. Goldman Sachs Group, Inc. (The) raised shares of ICICI Bank Limited from a “buy” rating to a “conviction-buy” rating in a report on Tuesday, June 6th. Zacks Investment Research downgraded shares of ICICI Bank Limited from a “buy” rating to a “hold” rating in a report on Tuesday, June 6th. BidaskClub raised shares of ICICI Bank Limited from a “hold” rating to a “buy” rating in a report on Friday, June 23rd. Finally, ValuEngine downgraded shares of ICICI Bank Limited from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target 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.

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

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