Schwab Charles Investment Management Inc. boosted its stake in shares of ICICI Bank Limited (NYSE:IBN) by 23.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 247,165 shares of the bank’s stock after buying an additional 47,005 shares during the period. Schwab Charles Investment Management Inc.’s holdings in ICICI Bank Limited were worth $2,126,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. American Century Companies Inc. purchased a new stake in shares of ICICI Bank Limited during the first quarter valued at $101,000. Gilder Gagnon Howe & Co. LLC increased its stake in shares of 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 valued at $120,000 after buying an additional 699 shares in the last quarter. Greenleaf Trust purchased a new stake in shares of ICICI Bank Limited during the first quarter valued at $162,000. OLD National Bancorp IN purchased a new stake in shares of ICICI Bank Limited during the first quarter valued at $175,000. Finally, United Capital Financial Advisers LLC increased its stake in shares of ICICI Bank Limited by 19.5% in the first quarter. United Capital Financial Advisers LLC now owns 20,514 shares of the bank’s stock valued at $176,000 after buying an additional 3,353 shares in the last quarter. 21.22% of the stock is currently owned by institutional investors and hedge funds.
ICICI Bank Limited (IBN) traded up 0.268% on Thursday, reaching $9.365. 2,037,945 shares of the company traded hands. ICICI Bank Limited has a 1-year low of $6.42 and a 1-year high of $9.85. The stock has a 50 day moving average of $9.21 and a 200-day moving average of $8.43. The stock has a market capitalization of $30.00 billion, a price-to-earnings ratio of 18.655 and a beta of 1.77.
ICICI Bank Limited (NYSE:IBN) last posted its quarterly earnings data on Thursday, July 27th. The bank reported $0.10 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.10. ICICI Bank Limited had a return on equity of 8.86% and a net margin of 13.03%. The company had revenue of $1.39 billion for the quarter. On average, equities analysts anticipate that ICICI Bank Limited will post $0.38 EPS for the current year.
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Several equities research analysts have recently weighed in on IBN shares. BidaskClub raised shares of ICICI Bank Limited from a “hold” rating to a “buy” rating in a research note on Wednesday, August 2nd. Zacks Investment Research raised shares of ICICI Bank Limited from a “hold” rating to a “buy” rating and set a $11.00 target price on the stock in a research note on Wednesday, June 7th. Goldman Sachs Group, Inc. (The) raised shares of ICICI Bank Limited from a “buy” rating to a “conviction-buy” rating in a research note on Tuesday, June 6th. Finally, ValuEngine downgraded shares of ICICI Bank Limited from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. One analyst has rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. ICICI Bank Limited currently has an average rating of “Hold” and a consensus 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.
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