Nomura Asset Management Co. Ltd. trimmed its holdings in shares of ICICI Bank Ltd (NYSE:IBN) by 35.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 594,648 shares of the bank’s stock after selling 329,600 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in ICICI Bank were worth $5,049,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also bought and sold shares of the stock. SP Asset Management bought a new stake in ICICI Bank during the 2nd quarter valued at approximately $106,000. Iberiabank Corp acquired a new stake in ICICI Bank during the 3rd quarter valued at $120,000. Meristem LLP increased its holdings in ICICI Bank by 57.4% during the 2nd quarter. Meristem LLP now owns 15,763 shares of the bank’s stock valued at $127,000 after purchasing an additional 5,749 shares in the last quarter. ANTIPODES PARTNERS Ltd acquired a new stake in ICICI Bank during the 2nd quarter valued at $137,000. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its position in ICICI Bank by 130.2% in the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 23,020 shares of the bank’s stock valued at $185,000 after buying an additional 13,020 shares during the last quarter. 23.33% of the stock is currently owned by hedge funds and other institutional investors.

IBN has been the topic of several recent research reports. ValuEngine upgraded ICICI Bank from a “sell” rating to a “hold” rating in a research report on Monday, July 30th. Zacks Investment Research lowered ICICI Bank from a “hold” rating to a “sell” rating in a report on Monday, August 13th. Finally, JPMorgan Chase & Co. raised ICICI Bank from a “neutral” rating to an “overweight” rating in a research note on Monday, October 15th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $11.00.

Shares of NYSE:IBN opened at $10.16 on Monday. ICICI Bank Ltd has a 12-month low of $7.61 and a 12-month high of $11.26. The company has a market cap of $32.55 billion, a PE ratio of 31.75 and a beta of 1.40. The company has a debt-to-equity ratio of 1.97, a current ratio of 1.12 and a quick ratio of 1.12.

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About ICICI Bank

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.

See Also: Cost of Equity For A Business, Investors

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

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