ICICI Bank Ltd (IBN) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered its position in ICICI Bank Ltd (NYSE:IBN) by 8.8% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,296,444 shares of the bank’s stock after selling 222,084 shares during the quarter. JPMorgan Chase & Co. owned about 0.07% of ICICI Bank worth $19,496,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in IBN. 180 Wealth Advisors LLC increased its stake in ICICI Bank by 24.8% in the second quarter. 180 Wealth Advisors LLC now owns 28,177 shares of the bank’s stock valued at $226,000 after acquiring an additional 5,593 shares during the last quarter. Meristem LLP increased its stake in ICICI Bank by 57.4% in the second quarter. Meristem LLP now owns 15,763 shares of the bank’s stock valued at $127,000 after acquiring an additional 5,749 shares during the last quarter. Comerica Bank increased its stake in ICICI Bank by 2.3% in the third quarter. Comerica Bank now owns 263,317 shares of the bank’s stock valued at $2,322,000 after acquiring an additional 5,812 shares during the last quarter. Envestnet Asset Management Inc. increased its stake in ICICI Bank by 2.2% in the second quarter. Envestnet Asset Management Inc. now owns 293,822 shares of the bank’s stock valued at $2,360,000 after acquiring an additional 6,220 shares during the last quarter. Finally, Daiwa SB Investments Ltd. increased its stake in ICICI Bank by 38.1% in the third quarter. Daiwa SB Investments Ltd. now owns 23,180 shares of the bank’s stock valued at $197,000 after acquiring an additional 6,400 shares during the last quarter. 23.69% of the stock is currently owned by hedge funds and other institutional investors.

IBN opened at $10.13 on Tuesday. The firm has a market capitalization of $32.58 billion, a P/E ratio of 31.66 and a beta of 1.44. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 1.97. ICICI Bank Ltd has a 52 week low of $7.61 and a 52 week high of $11.26.

A number of research firms recently commented on IBN. Zacks Investment Research cut ICICI Bank from a “hold” rating to a “sell” rating in a research note on Wednesday, October 17th. JPMorgan Chase & Co. raised ICICI Bank from a “neutral” rating to an “overweight” rating in a research note on Monday, October 15th. Finally, HSBC cut ICICI Bank from a “buy” rating to a “hold” rating in a research note on Friday, November 23rd. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $11.00.

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ICICI Bank 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.

Read More: Stock Split

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

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