ICICI Bank Limited (NYSE:IBN) Shares Sold by Alliancebernstein L.P.

Alliancebernstein L.P. cut its stake in ICICI Bank Limited (NYSE:IBN) by 94.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 168,878 shares of the bank’s stock after selling 3,109,680 shares during the period. Alliancebernstein L.P.’s holdings in ICICI Bank Limited were worth $1,452,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also modified their holdings of the company. Portland Global Advisors LLC raised its stake in shares of ICICI Bank Limited by 0.3% in the first quarter. Portland Global Advisors LLC now owns 237,164 shares of the bank’s stock valued at $2,040,000 after buying an additional 650 shares during the last quarter. Gilder Gagnon Howe & Co. LLC raised its stake in shares of ICICI Bank Limited by 5.3% in the first quarter. Gilder Gagnon Howe & Co. LLC now owns 13,956 shares of the bank’s stock valued at $120,000 after buying an additional 699 shares in the last quarter. Daiwa SB Investments Ltd. raised its stake in shares of ICICI Bank Limited by 8.7% in the first quarter. Daiwa SB Investments Ltd. now owns 13,800 shares of the bank’s stock valued at $119,000 after buying an additional 1,100 shares in the last quarter. Atria Investments LLC raised its stake in shares of ICICI Bank Limited by 11.0% in the first quarter. Atria Investments LLC now owns 13,729 shares of the bank’s stock valued at $118,000 after buying an additional 1,363 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its stake in shares of ICICI Bank Limited by 1.6% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 86,801 shares of the bank’s stock valued at $747,000 after buying an additional 1,382 shares in the last quarter. 20.84% of the stock is currently owned by institutional investors.

ICICI Bank Limited (NYSE IBN) opened at 8.90 on Friday. The firm has a 50-day moving average price of $9.18 and a 200-day moving average price of $8.32. The firm has a market cap of $28.51 billion, a price-to-earnings ratio of 17.80 and a beta of 1.77. ICICI Bank Limited has a 1-year low of $6.43 and a 1-year high of $9.85.

ICICI Bank Limited (NYSE:IBN) last issued its earnings results on Thursday, July 27th. The bank reported $0.10 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.10. The firm had revenue of $1.39 billion for the quarter. ICICI Bank Limited had a return on equity of 8.86% and a net margin of 13.03%. On average, analysts expect that ICICI Bank Limited will post $0.38 earnings per share for the current fiscal year.

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IBN has been the topic of several recent analyst reports. Zacks Investment Research raised ICICI Bank Limited from a “hold” rating to a “buy” rating and set a $10.00 price target on the stock in a research note on Monday, May 8th. BidaskClub raised ICICI Bank Limited from a “hold” rating to a “buy” rating in a research note on Friday, June 23rd. Goldman Sachs Group, Inc. (The) raised ICICI Bank Limited from a “buy” rating to a “conviction-buy” rating in a research note on Tuesday, June 6th. Finally, ValuEngine lowered ICICI Bank Limited from a “buy” rating to a “hold” rating in a research note on Tuesday, August 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $11.00.

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.

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

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