ING Groep NV boosted its stake in shares of ICICI Bank Limited (NYSE:IBN) by 9.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 43,621 shares of the bank’s stock after buying an additional 3,694 shares during the period. ING Groep NV’s holdings in ICICI Bank Limited were worth $391,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in IBN. Exane Derivatives increased its position in shares of ICICI Bank Limited by 731.4% in the first quarter. Exane Derivatives now owns 37,013 shares of the bank’s stock valued at $318,000 after buying an additional 32,561 shares during the last quarter. Wetherby Asset Management Inc. increased its position in shares of ICICI Bank Limited by 14.8% in the first quarter. Wetherby Asset Management Inc. now owns 67,724 shares of the bank’s stock valued at $583,000 after buying an additional 8,749 shares during the last quarter. State of New Jersey Common Pension Fund D increased its position in shares of 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. Sumitomo Life Insurance Co. increased its position in shares of ICICI Bank Limited by 66.1% in the first quarter. Sumitomo Life Insurance Co. now owns 68,600 shares of the bank’s stock valued at $590,000 after buying an additional 27,300 shares during the last quarter. Finally, Polaris Greystone Financial Group LLC increased its position in shares of ICICI Bank Limited by 4.4% in the first quarter. Polaris Greystone Financial Group LLC now owns 109,129 shares of the bank’s stock valued at $939,000 after buying an additional 4,593 shares during the last quarter. 20.84% of the stock is owned by hedge funds and other institutional investors.

ICICI Bank Limited (NYSE IBN) traded down 0.75% during mid-day trading on Tuesday, hitting $9.24. 1,336,606 shares of the stock traded hands. The company’s 50 day moving average is $9.13 and its 200 day moving average is $8.23. ICICI Bank Limited has a 12 month low of $6.42 and a 12 month high of $9.85. The company has a market cap of $29.60 billion, a P/E ratio of 18.55 and a beta of 1.77.

ICICI Bank Limited (NYSE:IBN) last issued its earnings results on Thursday, July 27th. The bank reported $0.10 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.10. ICICI Bank Limited had a net margin of 13.03% and a return on equity of 8.86%. The firm had revenue of $1.39 billion during the quarter. On average, analysts expect that ICICI Bank Limited will post $0.38 earnings per share for the current fiscal year.

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Several brokerages have commented on IBN. Zacks Investment Research raised shares of ICICI Bank Limited from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a report on Wednesday, June 7th. Goldman Sachs Group, Inc. (The) raised 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 issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target 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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