Thomas White International Ltd. Decreases Stake in ICICI Bank Limited (IBN)
Thomas White International Ltd. lowered its stake in ICICI Bank Limited (NYSE:IBN) by 7.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 867,341 shares of the bank’s stock after selling 71,186 shares during the period. ICICI Bank Limited comprises about 1.3% of Thomas White International Ltd.’s portfolio, making the stock its 13th largest position. Thomas White International Ltd.’s holdings in ICICI Bank Limited were worth $7,780,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of IBN. Candriam Luxembourg S.C.A. increased its position in 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 valued at $1,135,000 after buying an additional 120,000 shares during the last quarter. Profund Advisors LLC increased its position in ICICI Bank Limited by 8.9% in the first quarter. Profund Advisors LLC now owns 141,528 shares of the bank’s stock valued at $1,217,000 after buying an additional 11,540 shares during the last quarter. State of New Jersey Common Pension Fund D increased its position in ICICI Bank Limited by 18.0% in the first quarter. State of New Jersey Common Pension Fund D now owns 214,973 shares of the bank’s stock valued at $1,849,000 after buying an additional 32,811 shares during the last quarter. BB&T Corp increased its position in ICICI Bank Limited by 209.2% in the first quarter. BB&T Corp now owns 68,370 shares of the bank’s stock valued at $588,000 after buying an additional 46,260 shares during the last quarter. Finally, Greenleaf Trust bought a new position in ICICI Bank Limited during the first quarter valued at about $162,000. Institutional investors own 21.66% of the company’s stock.
ICICI Bank Limited (NYSE:IBN) traded down 0.32% on Thursday, hitting $9.34. 1,100,967 shares of the stock traded hands. The stock has a market cap of $29.92 billion, a price-to-earnings ratio of 18.68 and a beta of 1.77. ICICI Bank Limited has a 52 week low of $6.42 and a 52 week high of $9.85. The firm’s 50 day moving average is $9.23 and its 200 day moving average is $8.45.
ICICI Bank Limited (NYSE:IBN) last released its quarterly earnings data on Thursday, July 27th. The bank reported $0.10 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.10. The business had revenue of $1.39 billion for the quarter. ICICI Bank Limited had a net margin of 13.03% and a return on equity of 8.86%. Equities 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 several research reports. Zacks Investment Research upgraded 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 upgraded 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, three have assigned a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average target price 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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