NINE MASTS CAPITAL Ltd boosted its holdings in shares of ICICI Bank Limited (NYSE:IBN) by 249.9% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,483,163 shares of the bank’s stock after buying an additional 3,201,913 shares during the quarter. ICICI Bank Limited accounts for 4.8% of NINE MASTS CAPITAL Ltd’s investment portfolio, making the stock its 7th largest position. NINE MASTS CAPITAL Ltd owned approximately 0.14% of ICICI Bank Limited worth $40,298,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Ronald Blue & Co. LLC acquired a new stake in ICICI Bank Limited during the 2nd quarter worth approximately $100,000. American Century Companies Inc. purchased a new stake in shares of ICICI Bank Limited in the 1st quarter valued at approximately $101,000. Smithfield Trust Co. increased its position in shares of ICICI Bank Limited by 9.0% in the 2nd quarter. Smithfield Trust Co. now owns 11,775 shares of the bank’s stock valued at $106,000 after purchasing an additional 968 shares during the last quarter. CAPROCK Group Inc. purchased a new stake in shares of ICICI Bank Limited in the 2nd quarter valued at approximately $107,000. Finally, Comerica Securities Inc. purchased a new stake in shares of ICICI Bank Limited in the 2nd quarter valued at approximately $115,000. Institutional investors own 21.66% of the company’s stock.
Shares of ICICI Bank Limited (IBN) traded up 0.22% during midday trading on Friday, hitting $9.16. 3,998,072 shares of the company’s stock were exchanged. ICICI Bank Limited has a 1-year low of $6.43 and a 1-year high of $9.85. The stock’s 50 day moving average is $9.21 and its 200-day moving average is $8.61. The stock has a market cap of $29.34 billion, a PE ratio of 18.25 and a beta of 1.79.
ICICI Bank Limited (NYSE:IBN) last posted its earnings results on Thursday, July 27th. The bank reported $0.10 EPS for the quarter, hitting analysts’ consensus estimates of $0.10. ICICI Bank Limited had a net margin of 13.03% and a return on equity of 8.86%. The business had revenue of $1.39 billion for the quarter. Analysts predict that ICICI Bank Limited will post $0.38 earnings per share for the current fiscal year.
A number of equities research analysts have commented on IBN shares. Zacks Investment Research raised shares of ICICI Bank Limited from a “hold” rating to a “buy” rating and set a $11.00 price objective on the stock in a research report on Wednesday, June 7th. BidaskClub raised shares of 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 shares of ICICI Bank Limited from a “buy” rating to a “conviction-buy” rating in a research report on Tuesday, June 6th. Finally, ValuEngine raised shares of ICICI Bank Limited from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $11.00.
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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