ICICI Bank Ltd (IBN) Shares Sold by Bank of America Corp DE
Bank of America Corp DE cut its position in ICICI Bank Ltd (NYSE:IBN) by 22.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 14,146,714 shares of the bank’s stock after selling 4,170,673 shares during the quarter. Bank of America Corp DE owned approximately 0.44% of ICICI Bank worth $113,599,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Bellecapital International Ltd. acquired a new position in ICICI Bank in the 2nd quarter valued at $100,000. BB&T Securities LLC acquired a new position in ICICI Bank in the 1st quarter valued at $114,000. Timber Hill LLC acquired a new position in ICICI Bank in the 1st quarter valued at $121,000. Meristem LLP grew its stake in ICICI Bank by 57.4% in the 2nd quarter. Meristem LLP now owns 15,763 shares of the bank’s stock valued at $127,000 after buying an additional 5,749 shares during the last quarter. Finally, ANTIPODES PARTNERS Ltd acquired a new position in ICICI Bank in the 2nd quarter valued at $137,000. Institutional investors and hedge funds own 22.79% of the company’s stock.
Shares of ICICI Bank stock opened at $9.26 on Monday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.97. ICICI Bank Ltd has a fifty-two week low of $7.61 and a fifty-two week high of $11.26. The firm has a market capitalization of $28.90 billion, a price-to-earnings ratio of 28.94, a P/E/G ratio of 1.52 and a beta of 1.94.
IBN has been the subject of a number of research reports. Goldman Sachs Group downgraded shares of ICICI Bank from a “conviction-buy” rating to a “buy” rating in a report on Thursday, June 21st. ValuEngine raised shares of ICICI Bank from a “sell” rating to a “hold” rating in a report on Monday, July 30th. Finally, Zacks Investment Research downgraded shares of ICICI Bank from a “hold” rating to a “sell” rating in a report on Monday, August 13th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $11.00.
ICICI Bank Profile
ICICI Bank Limited, together with its subsidiaries, provides banking and financial services in India and internationally. It operates through Retail Banking, Wholesale Banking, Treasury, Other Banking, Life Insurance, General Insurance, and Others segments. The company offers savings, salary, pension, current, and other accounts; and fixed, recurring, and security deposits.
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