Edmond DE Rothschild Holding S.A. cut its holdings in ICICI Bank Ltd (NYSE:IBN) by 21.8% during the 4th quarter, Holdings Channel reports. The firm owned 263,139 shares of the bank’s stock after selling 73,400 shares during the period. Edmond DE Rothschild Holding S.A.’s holdings in ICICI Bank were worth $2,708,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Lindbrook Capital LLC purchased a new stake in ICICI Bank in the fourth quarter worth about $46,000. Rehmann Capital Advisory Group lifted its holdings in ICICI Bank by 28.3% in the fourth quarter. Rehmann Capital Advisory Group now owns 6,069 shares of the bank’s stock worth $62,000 after buying an additional 1,339 shares during the period. Navellier & Associates Inc lifted its holdings in ICICI Bank by 53.5% in the fourth quarter. Navellier & Associates Inc now owns 6,649 shares of the bank’s stock worth $68,000 after buying an additional 2,317 shares during the period. Aviva PLC purchased a new stake in ICICI Bank in the third quarter worth about $109,000. Finally, Bronfman E.L. Rothschild L.P. lifted its holdings in ICICI Bank by 3,995.0% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 12,981 shares of the bank’s stock worth $110,000 after buying an additional 12,664 shares during the period. 23.19% of the stock is currently owned by institutional investors.
Several analysts have commented on the stock. Sanford C. Bernstein upgraded shares of ICICI Bank from an “underperform” rating to a “market perform” rating in a report on Monday, February 4th. ValuEngine lowered shares of ICICI Bank from a “sell” rating to a “strong sell” rating in a report on Monday, February 4th. Zacks Investment Research upgraded shares of ICICI Bank from a “hold” rating to a “strong-buy” rating and set a $12.00 price objective for the company in a report on Friday, January 11th. Finally, HSBC lowered shares of ICICI Bank from a “buy” rating to a “hold” rating in a report on Friday, November 23rd. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $12.00.
ILLEGAL ACTIVITY NOTICE: “ICICI Bank Ltd (IBN) Position Lessened by Edmond DE Rothschild Holding S.A.” was originally reported by Community Financial News and is the property of of Community Financial News. If you are viewing this article on another website, it was copied illegally and republished in violation of U.S. & international trademark & copyright laws. The legal version of this article can be accessed at https://www.com-unik.info/2019/03/15/icici-bank-ltd-ibn-position-lessened-by-edmond-de-rothschild-holding-s-a.html.
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.
Further Reading: What is a put option?
Want to see what other hedge funds are holding IBN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ICICI Bank Ltd (NYSE:IBN).
Receive News & Ratings for ICICI Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ICICI Bank and related companies with MarketBeat.com's FREE daily email newsletter.