Deutsche Bank AG lessened its position in ICICI Bank Ltd (NYSE:IBN) by 26.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 7,767,031 shares of the bank’s stock after selling 2,780,438 shares during the period. Deutsche Bank AG owned about 0.24% of ICICI Bank worth $75,572,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of IBN. Harding Loevner LP lifted its stake in shares of ICICI Bank by 144.2% in the third quarter. Harding Loevner LP now owns 121,859,547 shares of the bank’s stock worth $348,926,000 after buying an additional 71,952,293 shares in the last quarter. OppenheimerFunds Inc. lifted its stake in shares of ICICI Bank by 15.0% in the fourth quarter. OppenheimerFunds Inc. now owns 61,623,547 shares of the bank’s stock worth $599,597,000 after buying an additional 8,049,720 shares in the last quarter. Global Thematic Partners LLC lifted its stake in shares of ICICI Bank by 35.1% in the fourth quarter. Global Thematic Partners LLC now owns 13,538,686 shares of the bank’s stock worth $131,732,000 after buying an additional 3,519,859 shares in the last quarter. ARGA Investment Management LP lifted its stake in shares of ICICI Bank by 24.7% in the fourth quarter. ARGA Investment Management LP now owns 13,631,501 shares of the bank’s stock worth $132,635,000 after buying an additional 2,698,391 shares in the last quarter. Finally, Discovery Capital Management LLC CT bought a new position in shares of ICICI Bank in the fourth quarter worth approximately $22,050,000. Hedge funds and other institutional investors own 21.82% of the company’s stock.
A number of research analysts recently weighed in on the stock. ValuEngine downgraded shares of ICICI Bank from a “buy” rating to a “hold” rating in a research report on Wednesday, March 7th. Morgan Stanley assumed coverage on shares of ICICI Bank in a research report on Tuesday, January 16th. They set an “overweight” rating on the stock. Finally, Zacks Investment Research downgraded shares of ICICI Bank from a “buy” rating to a “hold” rating in a research report on Wednesday, January 10th. Two analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $11.00.
ICICI Bank 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.
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