Suntrust Banks Inc. Purchases 2,115 Shares of ICICI Bank Ltd (IBN)

Suntrust Banks Inc. raised its position in ICICI Bank Ltd (NYSE:IBN) by 4.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 48,084 shares of the bank’s stock after purchasing an additional 2,115 shares during the quarter. Suntrust Banks Inc.’s holdings in ICICI Bank were worth $495,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Lindbrook Capital LLC acquired a new stake in shares of ICICI Bank in the fourth quarter valued at about $46,000. Rehmann Capital Advisory Group increased its position in shares of ICICI Bank by 28.3% in the fourth quarter. Rehmann Capital Advisory Group now owns 6,069 shares of the bank’s stock valued at $62,000 after acquiring an additional 1,339 shares during the last quarter. Navellier & Associates Inc increased its position in shares of ICICI Bank by 53.5% in the fourth quarter. Navellier & Associates Inc now owns 6,649 shares of the bank’s stock valued at $68,000 after acquiring an additional 2,317 shares during the last quarter. Aviva PLC acquired a new stake in shares of ICICI Bank in the third quarter valued at about $109,000. Finally, Bronfman E.L. Rothschild L.P. increased its position in shares of 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 valued at $110,000 after acquiring an additional 12,664 shares during the last quarter. 23.16% of the stock is currently owned by hedge funds and other institutional investors.

ICICI Bank stock opened at $11.46 on Tuesday. ICICI Bank Ltd has a 52 week low of $7.61 and a 52 week high of $11.49. The stock has a market cap of $36.71 billion, a P/E ratio of 35.81 and a beta of 0.98.

IBN has been the topic of a number of recent research reports. Sanford C. Bernstein raised ICICI Bank from an “underperform” rating to a “market perform” rating in a research report on Monday, February 4th. ValuEngine downgraded ICICI Bank from a “sell” rating to a “strong sell” rating in a research report on Friday, January 11th. Zacks Investment Research upgraded ICICI Bank from a “hold” rating to a “strong-buy” rating and set a $12.00 price target for the company in a report on Friday, January 11th. Finally, Standpoint Research cut ICICI Bank from a “buy” rating to a “hold” rating in a report on Friday. Three research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. ICICI Bank presently has a consensus rating of “Buy” and a consensus target price of $12.00.

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ICICI Bank Company 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.

See Also: Compound Annual Growth Rate (CAGR)

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

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