Deprince Race & Zollo Inc. boosted its stake in ICICI Bank Ltd. (NYSE:IBN) by 4.2% during the second quarter, Holdings Channel reports. The fund owned 986,120 shares of the company’s stock after buying an additional 39,710 shares during the period. Deprince Race & Zollo Inc.’s holdings in ICICI Bank were worth $7,080,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. UBS Asset Management Americas Inc. raised its stake in shares of ICICI Bank by 34.7% in the first quarter. UBS Asset Management Americas Inc. now owns 19,018,344 shares of the company’s stock worth $136,171,000 after buying an additional 4,898,909 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of ICICI Bank by 167.0% in the first quarter. Renaissance Technologies LLC now owns 6,111,200 shares of the company’s stock worth $43,756,000 after buying an additional 3,822,000 shares in the last quarter. Altrinsic Global Advisors LLC raised its stake in shares of ICICI Bank by 29.0% in the first quarter. Altrinsic Global Advisors LLC now owns 14,219,933 shares of the company’s stock worth $101,814,000 after buying an additional 3,198,118 shares in the last quarter. Bank of Montreal Can acquired a new position in ICICI Bank during the second quarter worth about $19,238,000. Finally, NN Investment Partners Holdings N.V. acquired a new position in ICICI Bank during the first quarter worth about $18,993,000. 22.47% of the stock is currently owned by institutional investors and hedge funds.
ICICI Bank Ltd. (NYSE:IBN) traded down 3.25% on Thursday, reaching $7.45. 9,132,868 shares of the company’s stock were exchanged. ICICI Bank Ltd. has a 52 week low of $5.15 and a 52 week high of $9.27. The stock’s 50 day moving average is $7.78 and its 200 day moving average is $7.35. The company has a market cap of $21.66 billion, a price-to-earnings ratio of 14.22 and a beta of 1.98.
Separately, JPMorgan Chase & Co. downgraded shares of ICICI Bank from an “overweight” rating to a “neutral” rating in a research report on Thursday, June 16th.
About ICICI Bank
ICICI Bank Limited is a banking company. The Bank is a financial services group 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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