ING Groep NV acquired a new position in shares of ICICI Bank Ltd (NYSE:IBN) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor acquired 52,368 shares of the bank’s stock, valued at approximately $445,000.

Several other hedge funds have also recently modified their holdings of IBN. OppenheimerFunds Inc. grew its holdings in shares of ICICI Bank by 10.5% during the second quarter. OppenheimerFunds Inc. now owns 72,668,260 shares of the bank’s stock worth $583,526,000 after purchasing an additional 6,931,319 shares during the last quarter. Hardman Johnston Global Advisors LLC purchased a new position in shares of ICICI Bank during the third quarter worth about $34,836,000. ARGA Investment Management LP grew its holdings in shares of ICICI Bank by 21.3% during the third quarter. ARGA Investment Management LP now owns 16,616,460 shares of the bank’s stock worth $141,074,000 after purchasing an additional 2,918,359 shares during the last quarter. FMR LLC grew its holdings in shares of ICICI Bank by 25.2% during the second quarter. FMR LLC now owns 11,809,770 shares of the bank’s stock worth $94,832,000 after purchasing an additional 2,378,440 shares during the last quarter. Finally, Pzena Investment Management LLC grew its holdings in shares of ICICI Bank by 457.9% during the second quarter. Pzena Investment Management LLC now owns 2,488,980 shares of the bank’s stock worth $19,987,000 after purchasing an additional 2,042,875 shares during the last quarter. 23.33% of the stock is currently owned by institutional investors.

IBN has been the topic of several research reports. Zacks Investment Research raised ICICI Bank from a “sell” rating to a “hold” rating in a report on Tuesday, October 9th. JPMorgan Chase & Co. raised ICICI Bank from a “neutral” rating to an “overweight” rating in a report on Monday, October 15th. Finally, ValuEngine raised ICICI Bank from a “sell” rating to a “hold” rating in a report on Monday, July 30th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $11.00.

Shares of IBN stock opened at $9.83 on Wednesday. The stock has a market cap of $32.23 billion, a price-to-earnings ratio of 30.72 and a beta of 1.40. ICICI Bank Ltd has a 1 year low of $7.61 and a 1 year high of $11.26. The company has a debt-to-equity ratio of 1.97, a quick ratio of 1.12 and a current 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.

Further Reading: How can you know how many shares are floating?

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

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