Harding Loevner LP grew its stake in shares of ICICI Bank Limited (NYSE:IBN) by 11.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 49,907,254 shares of the bank’s stock after buying an additional 4,972,062 shares during the period. ICICI Bank Limited makes up 2.7% of Harding Loevner LP’s portfolio, making the stock its 11th biggest position. Harding Loevner LP owned approximately 1.56% of ICICI Bank Limited worth $447,668,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Capstone Asset Management Co. raised its position in shares of ICICI Bank Limited by 0.4% during the second quarter. Capstone Asset Management Co. now owns 82,479 shares of the bank’s stock worth $740,000 after purchasing an additional 360 shares during the period. HighTower Advisors LLC raised its position in shares of ICICI Bank Limited by 2.4% during the first quarter. HighTower Advisors LLC now owns 16,476 shares of the bank’s stock worth $144,000 after purchasing an additional 384 shares during the period. Baldwin Investment Management LLC raised its position in shares of ICICI Bank Limited by 0.8% during the second quarter. Baldwin Investment Management LLC now owns 61,073 shares of the bank’s stock worth $548,000 after purchasing an additional 483 shares during the period. Gilder Gagnon Howe & Co. LLC raised its position in shares of ICICI Bank Limited by 5.3% during the first quarter. Gilder Gagnon Howe & Co. LLC now owns 13,956 shares of the bank’s stock worth $120,000 after purchasing an additional 699 shares during the period. Finally, Smithfield Trust Co. raised its position in shares of ICICI Bank Limited by 9.0% during the second quarter. Smithfield Trust Co. now owns 11,775 shares of the bank’s stock worth $106,000 after purchasing an additional 968 shares during the period. Hedge funds and other institutional investors own 21.65% of the company’s stock.

A number of research firms have recently commented on IBN. ValuEngine raised ICICI Bank Limited from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. BidaskClub raised ICICI Bank Limited from a “hold” rating to a “buy” rating in a research report on Saturday, August 26th. Finally, Zacks Investment Research 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, two have given a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $11.00.

ICICI Bank Limited (NYSE IBN) traded down 1.02% during midday trading on Friday, hitting $8.75. The stock had a trading volume of 11,664,134 shares. ICICI Bank Limited has a 52 week low of $6.43 and a 52 week high of $9.85. The stock has a market capitalization of $28.03 billion, a price-to-earnings ratio of 17.43 and a beta of 1.79. The company’s 50 day moving average price is $9.19 and its 200-day moving average price is $8.64.

ICICI Bank Limited (NYSE:IBN) last announced its earnings results on Thursday, July 27th. The bank reported $0.10 EPS for the quarter, meeting the consensus estimate of $0.10. ICICI Bank Limited had a return on equity of 8.86% and a net margin of 13.03%. The company had revenue of $1.39 billion for the quarter. Equities analysts anticipate that ICICI Bank Limited will post $0.38 earnings per share for the current fiscal year.

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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.

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

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