ICICI Bank Limited (IBN) Position Increased by Swiss National Bank
Swiss National Bank boosted its holdings in shares of ICICI Bank Limited (NYSE:IBN) by 10.0% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 272,575 shares of the bank’s stock after purchasing an additional 24,779 shares during the quarter. Swiss National Bank’s holdings in ICICI Bank Limited were worth $2,445,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Capstone Asset Management Co. grew its holdings in ICICI Bank Limited by 0.4% in the 2nd quarter. Capstone Asset Management Co. now owns 82,479 shares of the bank’s stock valued at $740,000 after buying an additional 360 shares during the last quarter. HighTower Advisors LLC increased its position in ICICI Bank Limited by 2.4% in the 1st quarter. HighTower Advisors LLC now owns 16,476 shares of the bank’s stock worth $144,000 after buying an additional 384 shares during the period. Baldwin Investment Management LLC increased its position in ICICI Bank Limited by 0.8% in the 2nd quarter. Baldwin Investment Management LLC now owns 61,073 shares of the bank’s stock worth $548,000 after buying an additional 483 shares during the period. Smithfield Trust Co. increased its position in ICICI Bank Limited by 9.0% in the 2nd quarter. Smithfield Trust Co. now owns 11,775 shares of the bank’s stock worth $106,000 after buying an additional 968 shares during the period. Finally, Capital One National Association increased its position in ICICI Bank Limited by 4.5% in the 2nd quarter. Capital One National Association now owns 23,731 shares of the bank’s stock worth $213,000 after buying an additional 1,028 shares during the period. Hedge funds and other institutional investors own 21.68% of the company’s stock.
ICICI Bank Limited (NYSE:IBN) opened at 8.57 on Tuesday. The stock’s 50 day moving average is $9.06 and its 200-day moving average is $8.71. The firm has a market cap of $27.45 billion, a price-to-earnings ratio of 17.07 and a beta of 1.71. ICICI Bank Limited has a 12 month low of $6.43 and a 12 month high of $9.85.
ICICI Bank Limited (NYSE:IBN) last released its quarterly earnings data on Thursday, July 27th. The bank reported $0.10 earnings per share (EPS) for the quarter, meeting the Zacks’ 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 during the quarter. On average, analysts anticipate that ICICI Bank Limited will post $0.38 earnings per share for the current fiscal year.
IBN has been the subject of several research reports. Zacks Investment Research raised ICICI Bank Limited from a “hold” rating to a “buy” rating and set a $9.50 price objective for the company in a research report on Tuesday, September 26th. Goldman Sachs Group, Inc. (The) upgraded shares of ICICI Bank Limited from a “buy” rating to a “conviction-buy” rating in a research note on Tuesday, June 6th. BidaskClub raised shares of ICICI Bank Limited from a “hold” rating to a “buy” rating in a research report on Friday, June 23rd. Finally, ValuEngine lowered shares of ICICI Bank Limited from a “buy” rating to a “hold” rating in a research report on Tuesday, August 1st. One 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 company. ICICI Bank Limited presently has an average rating of “Buy” and a consensus target price of $9.50.
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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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