DnB Asset Management AS lowered its stake in ICICI Bank Limited (NYSE:IBN) by 69.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 39,553 shares of the bank’s stock after selling 88,357 shares during the period. DnB Asset Management AS’s holdings in ICICI Bank Limited were worth $355,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. American Century Companies Inc. bought a new position in ICICI Bank Limited during the first quarter valued at approximately $101,000. Atria Investments LLC increased its position in ICICI Bank Limited by 11.0% in the first quarter. Atria Investments LLC now owns 13,729 shares of the bank’s stock valued at $118,000 after buying an additional 1,363 shares during the period. Daiwa SB Investments Ltd. increased its position in ICICI Bank Limited by 8.7% in the first quarter. Daiwa SB Investments Ltd. now owns 13,800 shares of the bank’s stock valued at $119,000 after buying an additional 1,100 shares during the period. Gilder Gagnon Howe & Co. LLC increased its position in ICICI Bank Limited by 5.3% in the first quarter. Gilder Gagnon Howe & Co. LLC now owns 13,956 shares of the bank’s stock valued at $120,000 after buying an additional 699 shares during the period. Finally, HighTower Advisors LLC increased its position in ICICI Bank Limited by 2.4% in the first quarter. HighTower Advisors LLC now owns 16,476 shares of the bank’s stock valued at $144,000 after buying an additional 384 shares during the period. Institutional investors and hedge funds own 20.48% of the company’s stock.

ICICI Bank Limited (NYSE:IBN) opened at 9.33 on Tuesday. The company has a market cap of $29.89 billion, a P/E ratio of 19.12 and a beta of 1.77. ICICI Bank Limited has a 12 month low of $6.42 and a 12 month high of $9.37. The firm has a 50-day moving average price of $8.84 and a 200 day moving average price of $7.85.

The firm also recently announced an annual dividend, which was paid on Wednesday, June 21st. Shareholders of record on Wednesday, June 21st were paid a dividend of $0.078 per share. The ex-dividend date of this dividend was Monday, June 19th. ICICI Bank Limited’s payout ratio is presently 17.96%.

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Several equities analysts recently commented on IBN shares. Zacks Investment Research upgraded ICICI Bank Limited from a “hold” rating to a “buy” rating and set a $11.00 target price for the company in a research report on Wednesday, June 7th. BidaskClub upgraded ICICI Bank Limited from a “hold” rating to a “buy” rating in a research report on Friday, June 23rd. 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. Macquarie upgraded ICICI Bank Limited from a “neutral” rating to an “outperform” rating in a research report on Monday, March 20th. Finally, Morgan Stanley downgraded ICICI Bank Limited from an “equal weight” rating to an “underweight” rating in a research report on Tuesday, March 21st. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. ICICI Bank Limited currently has an average rating of “Buy” and an average 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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