State of New Jersey Common Pension Fund D boosted its position in ICICI Bank Limited (NYSE:IBN) by 326.6% during the second quarter, Holdings Channel reports. The institutional investor owned 916,978 shares of the bank’s stock after buying an additional 702,005 shares during the period. State of New Jersey Common Pension Fund D’s holdings in ICICI Bank Limited were worth $8,225,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the company. Daiwa SB Investments Ltd. raised its stake in shares of ICICI Bank Limited by 8.7% in the first quarter. Daiwa SB Investments Ltd. now owns 13,800 shares of the bank’s stock worth $119,000 after buying an additional 1,100 shares in the last quarter. Atria Investments LLC raised its stake in shares of ICICI Bank Limited by 11.0% in the first quarter. Atria Investments LLC now owns 13,729 shares of the bank’s stock worth $118,000 after buying an additional 1,363 shares in the last quarter. Portland Global Advisors LLC raised its stake in shares of ICICI Bank Limited by 0.3% in the first quarter. Portland Global Advisors LLC now owns 237,164 shares of the bank’s stock worth $2,040,000 after buying an additional 650 shares in the last quarter. Bank of The West purchased a new stake in shares of ICICI Bank Limited during the first quarter worth $208,000. Finally, Candriam Luxembourg S.C.A. raised its stake in shares of ICICI Bank Limited by 1,000.0% in the first quarter. Candriam Luxembourg S.C.A. now owns 132,000 shares of the bank’s stock worth $1,135,000 after buying an additional 120,000 shares in the last quarter. Institutional investors and hedge funds own 20.84% of the company’s stock.

Shares of ICICI Bank Limited (NYSE:IBN) opened at 8.79 on Friday. ICICI Bank Limited has a 52-week low of $6.43 and a 52-week high of $9.85. The company has a market cap of $28.16 billion, a price-to-earnings ratio of 17.58 and a beta of 1.77. The firm has a 50 day moving average price of $9.18 and a 200-day moving average price of $8.31.

ICICI Bank Limited (NYSE:IBN) last released its quarterly earnings results on Thursday, July 27th. The bank reported $0.10 earnings per share 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 business had revenue of $1.39 billion for the quarter. Equities research analysts anticipate that ICICI Bank Limited will post $0.38 earnings per share for the current year.

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IBN has been the topic of a number of research reports. Zacks Investment Research upgraded ICICI Bank Limited from a “hold” rating to a “buy” rating and set a $10.00 price objective on the stock in a research report on Monday, May 8th. Goldman Sachs Group, Inc. (The) upgraded ICICI Bank Limited from a “buy” rating to a “conviction-buy” rating in a research report on Tuesday, June 6th. BidaskClub lowered ICICI Bank Limited from a “buy” rating to a “hold” rating in a research report on Tuesday, June 13th. Finally, ValuEngine lowered ICICI Bank Limited from a “buy” rating to a “hold” rating in a research 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 issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $11.00.

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

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