Wells Fargo & Company MN decreased its stake in ICICI Bank Limited (NYSE:IBN) by 5.0% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 8,779,976 shares of the bank’s stock after selling 464,777 shares during the quarter. Wells Fargo & Company MN owned 0.27% of ICICI Bank worth $75,156,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors also recently added to or reduced their stakes in the company. Smithfield Trust Co. grew its holdings in shares of ICICI Bank by 9.0% during the second quarter. Smithfield Trust Co. now owns 11,775 shares of the bank’s stock worth $106,000 after buying an additional 968 shares in the last quarter. CAPROCK Group Inc. bought a new position in shares of ICICI Bank during the second quarter worth about $107,000. Teacher Retirement System of Texas bought a new position in shares of ICICI Bank during the third quarter worth about $110,000. YorkBridge Wealth Partners LLC grew its holdings in shares of ICICI Bank by 14.3% during the second quarter. YorkBridge Wealth Partners LLC now owns 12,381 shares of the bank’s stock worth $111,000 after buying an additional 1,553 shares in the last quarter. Finally, Comerica Securities Inc. bought a new position in shares of ICICI Bank during the second quarter worth about $115,000. 21.97% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts recently issued reports on IBN shares. Zacks Investment Research upgraded ICICI Bank from a “hold” rating to a “buy” rating and set a $9.50 price objective for the company in a report on Tuesday, September 26th. BidaskClub raised ICICI Bank from a “hold” rating to a “buy” rating in a research report on Saturday, August 26th. Jefferies Group raised ICICI Bank from a “hold” rating to a “buy” rating in a research report on Monday, October 30th. Morgan Stanley raised ICICI Bank from an “underweight” rating to an “overweight” rating in a research report on Wednesday, October 25th. Finally, ValuEngine cut ICICI Bank from a “buy” rating to a “hold” rating in a research report on Wednesday, September 27th. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $9.50.
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ICICI Bank 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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