Boston Partners Has $77.75 Million Position in ICICI Bank Limited (NYSE:IBN)
Boston Partners boosted its stake in shares of ICICI Bank Limited (NYSE:IBN) by 44.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,668,071 shares of the bank’s stock after buying an additional 2,671,041 shares during the period. Boston Partners’ holdings in ICICI Bank Limited were worth $77,753,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. BlackRock Inc. increased its stake in 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 in the last quarter. Morgan Stanley increased its stake in ICICI Bank Limited by 1,269.1% in the first quarter. Morgan Stanley now owns 12,277,063 shares of the bank’s stock worth $105,583,000 after buying an additional 11,380,354 shares in the last quarter. ARGA Investment Management LP increased its stake in ICICI Bank Limited by 1,333.4% in the first quarter. ARGA Investment Management LP now owns 8,603,400 shares of the bank’s stock worth $73,990,000 after buying an additional 8,003,200 shares in the last quarter. Rockefeller Financial Services Inc. increased its stake in ICICI Bank Limited by 5,881.7% in the second quarter. Rockefeller Financial Services Inc. now owns 4,429,335 shares of the bank’s stock worth $39,731,000 after buying an additional 4,355,287 shares in the last quarter. Finally, Lazard Asset Management LLC increased its stake in ICICI Bank Limited by 69.9% in the first quarter. Lazard Asset Management LLC now owns 10,386,637 shares of the bank’s stock worth $89,325,000 after buying an additional 4,273,463 shares in the last quarter. 20.84% of the stock is currently owned by institutional investors and hedge funds.
Shares of ICICI Bank Limited (IBN) opened at 8.90 on Friday. The company’s 50-day moving average is $9.18 and its 200-day moving average is $8.32. ICICI Bank Limited has a 12-month low of $6.43 and a 12-month high of $9.85. The stock has a market cap of $28.51 billion, a P/E ratio of 17.80 and a beta of 1.77.
ICICI Bank Limited (NYSE:IBN) last announced its earnings results on Thursday, July 27th. The bank reported $0.10 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.10. The firm had revenue of $1.39 billion during the quarter. ICICI Bank Limited had a net margin of 13.03% and a return on equity of 8.86%. On average, analysts expect that ICICI Bank Limited will post $0.38 earnings per share for the current fiscal year.
IBN has been the topic of a number of research analyst reports. Zacks Investment Research raised shares of ICICI Bank Limited from a “hold” rating to a “buy” rating and set a $10.00 price objective on the stock in a report on Monday, May 8th. 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. BidaskClub downgraded shares of ICICI Bank Limited from a “buy” rating to a “hold” rating in a report on Tuesday, June 13th. Finally, ValuEngine downgraded shares of ICICI Bank Limited from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. The company 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.
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