Stevens Capital Management LP lifted its stake in ICICI Bank Ltd (NYSE:IBN) by 27.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 95,231 shares of the bank’s stock after buying an additional 20,661 shares during the period. Stevens Capital Management LP’s holdings in ICICI Bank were worth $809,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of the stock. SP Asset Management acquired a new position in ICICI Bank during the second quarter valued at approximately $106,000. Aviva PLC acquired a new position in ICICI Bank during the third quarter valued at approximately $109,000. Iberiabank Corp acquired a new position in ICICI Bank during the third quarter valued at approximately $120,000. American International Group Inc. acquired a new position in ICICI Bank during the third quarter valued at approximately $130,000. Finally, Meristem LLP raised its position in ICICI Bank by 57.4% during the second 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. Institutional investors and hedge funds own 23.69% of the company’s stock.

IBN has been the subject of several research analyst reports. JPMorgan Chase & Co. upgraded shares of ICICI Bank from a “neutral” rating to an “overweight” rating in a research report on Monday, October 15th. Zacks Investment Research downgraded shares of ICICI Bank from a “hold” rating to a “sell” rating in a research report on Wednesday, October 17th. Finally, HSBC downgraded shares of ICICI Bank from a “buy” rating to a “hold” rating in a research report on Friday, November 23rd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $11.00.

Shares of IBN opened at $9.82 on Friday. ICICI Bank Ltd has a one year low of $7.61 and a one year high of $11.26. The company has a market cap of $31.84 billion, a price-to-earnings ratio of 30.69 and a beta of 1.44. 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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ICICI Bank Company 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.

See Also: Balanced Fund

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

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