Portland Global Advisors LLC Cuts Stake in ICICI Bank Ltd. (IBN)
Portland Global Advisors LLC lowered its stake in ICICI Bank Ltd. (NYSE:IBN) by 0.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 237,469 shares of the company’s stock after selling 925 shares during the period. Portland Global Advisors LLC’s holdings in ICICI Bank were worth $1,705,000 at the end of the most recent reporting period.
Other hedge funds also recently bought and sold shares of the company. Swarthmore Group Inc. raised its stake in ICICI Bank by 55.5% in the second quarter. Swarthmore Group Inc. now owns 18,850 shares of the company’s stock valued at $135,000 after buying an additional 6,725 shares during the period. Prudential PLC acquired a new position in shares of ICICI Bank during the first quarter worth about $150,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of ICICI Bank by 17.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 63,505 shares of the company’s stock worth $455,000 after buying an additional 9,489 shares in the last quarter. Rockefeller Financial Services Inc. increased its position in shares of ICICI Bank by 2.8% in the second quarter. Rockefeller Financial Services Inc. now owns 72,580 shares of the company’s stock worth $521,000 after buying an additional 1,952 shares in the last quarter. Finally, Boston Advisors LLC increased its position in shares of ICICI Bank by 55.9% in the first quarter. Boston Advisors LLC now owns 86,200 shares of the company’s stock worth $617,000 after buying an additional 30,900 shares in the last quarter. 22.47% of the stock is currently owned by hedge funds and other institutional investors.
ICICI Bank Ltd. (NYSE:IBN) traded up 1.11% during trading on Thursday, hitting $8.20. The stock had a trading volume of 9,232,194 shares. The firm has a market cap of $23.84 billion, a P/E ratio of 15.77 and a beta of 1.93. The stock’s 50 day moving average price is $7.64 and its 200 day moving average price is $7.27. ICICI Bank Ltd. has a 12-month low of $5.15 and a 12-month high of $9.27.
Separately, JPMorgan Chase & Co. downgraded ICICI Bank from an “overweight” rating to a “neutral” rating in a research report on Thursday, June 16th.
ICICI Bank Company Profile
ICICI Bank Limited is a banking company. The Bank is a financial services group 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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