Edinburgh Partners Ltd Grows Holdings in ICICI Bank Limited (IBN)

Edinburgh Partners Ltd raised its stake in shares of ICICI Bank Limited (NYSE:IBN) by 284.2% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 123,420 shares of the bank’s stock after purchasing an additional 91,300 shares during the period. ICICI Bank Limited accounts for approximately 0.3% of Edinburgh Partners Ltd’s holdings, making the stock its 12th biggest position. Edinburgh Partners Ltd’s holdings in ICICI Bank Limited were worth $1,056,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Westpac Banking Corp bought a new position in shares of ICICI Bank Limited during the 3rd quarter valued at about $9,809,000. Baillie Gifford & Co. boosted its holdings in shares of ICICI Bank Limited by 34.1% during the 3rd quarter. Baillie Gifford & Co. now owns 28,409,871 shares of the bank’s stock valued at $243,188,000 after purchasing an additional 7,216,548 shares during the last quarter. Crossmark Global Holdings Inc. bought a new position in shares of ICICI Bank Limited during the 3rd quarter valued at about $722,000. Parsec Financial Management Inc. bought a new position in shares of ICICI Bank Limited during the 3rd quarter valued at about $1,015,000. Finally, State of New Jersey Common Pension Fund D boosted its holdings in shares of ICICI Bank Limited by 62.3% during the 3rd quarter. State of New Jersey Common Pension Fund D now owns 1,488,261 shares of the bank’s stock valued at $12,739,000 after purchasing an additional 571,283 shares during the last quarter. 21.98% of the stock is owned by institutional investors and hedge funds.

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Shares of ICICI Bank Limited (NYSE IBN) traded up 3.93% on Wednesday, hitting $9.51. 9,738,359 shares of the company were exchanged. The firm’s 50-day moving average is $8.62 and its 200-day moving average is $8.81. ICICI Bank Limited has a 52-week low of $6.69 and a 52-week high of $9.85. The stock has a market capitalization of $30.46 billion, a PE ratio of 19.33 and a beta of 1.70.

Several research firms have commented on IBN. ValuEngine raised shares of ICICI Bank Limited from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Jefferies Group LLC raised shares of ICICI Bank Limited from a “hold” rating to a “buy” rating in a report on Monday. Morgan Stanley raised shares of ICICI Bank Limited from an “underweight” rating to an “overweight” rating in a report on Wednesday, October 25th. Zacks Investment Research downgraded shares of ICICI Bank Limited from a “buy” rating to a “hold” rating in a report on Tuesday, August 1st. Finally, BidaskClub downgraded shares of ICICI Bank Limited from a “buy” rating to a “hold” rating in a report on Tuesday, July 25th. One equities research analyst has rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $9.50.

ICICI Bank Limited Company Profile

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.

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

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