Sciencast Management LP Acquires Shares of 19,697 ICICI Bank Limited (IBN)

Sciencast Management LP acquired a new stake in ICICI Bank Limited (NYSE:IBN) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 19,697 shares of the bank’s stock, valued at approximately $177,000.

A number of other institutional investors and hedge funds have also modified their holdings of IBN. BlackRock Inc. grew its holdings in ICICI Bank Limited by 9,570.9% in the first quarter. BlackRock Inc. now owns 16,350,196 shares of the bank’s stock valued at $140,610,000 after purchasing an additional 16,181,130 shares during the period. Morgan Stanley grew its holdings in ICICI Bank Limited by 1,269.1% in the first quarter. Morgan Stanley now owns 12,277,063 shares of the bank’s stock valued at $105,583,000 after purchasing an additional 11,380,354 shares during the period. BT Investment Management Ltd acquired a new stake in ICICI Bank Limited in the second quarter valued at approximately $86,396,000. Lazard Asset Management LLC grew its holdings in ICICI Bank Limited by 90.0% in the second quarter. Lazard Asset Management LLC now owns 19,738,017 shares of the bank’s stock valued at $177,050,000 after purchasing an additional 9,351,380 shares during the period. Finally, LMR Partners LLP grew its holdings in ICICI Bank Limited by 102.2% in the second quarter. LMR Partners LLP now owns 12,055,375 shares of the bank’s stock valued at $108,324,000 after purchasing an additional 6,091,901 shares during the period. 21.68% of the stock is currently owned by institutional investors.

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Shares of ICICI Bank Limited (NYSE:IBN) traded up 0.303% during mid-day trading on Thursday, reaching $8.285. The company’s stock had a trading volume of 1,213,129 shares. ICICI Bank Limited has a 1-year low of $6.42 and a 1-year high of $9.85. The company’s 50 day moving average price is $8.92 and its 200-day moving average price is $8.74. The company has a market capitalization of $26.54 billion, a price-to-earnings ratio of 16.504 and a beta of 1.70.

ICICI Bank Limited (NYSE:IBN) last issued its earnings results on Thursday, July 27th. The bank reported $0.10 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.10. The business had revenue of $1.39 billion during the quarter. ICICI Bank Limited had a return on equity of 8.86% and a net margin of 13.03%. Analysts predict that ICICI Bank Limited will post $0.38 earnings per share for the current fiscal year.

Several analysts have commented on the company. ValuEngine lowered ICICI Bank Limited from a “buy” rating to a “hold” rating in a report on Wednesday, September 27th. Zacks Investment Research raised ICICI Bank Limited from a “hold” rating to a “buy” rating and set a $9.50 price objective on the stock in a report on Tuesday, September 26th. Finally, BidaskClub raised ICICI Bank Limited from a “hold” rating to a “buy” rating in a report on Saturday, August 26th. One analyst has rated the stock with a sell rating, two have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company’s stock. ICICI Bank Limited presently has a consensus rating of “Buy” and an average price target 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.

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

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