Neuberger Berman Group LLC Has $5.24 Million Position in ICICI Bank Limited (IBN)

Neuberger Berman Group LLC increased its position in shares of ICICI Bank Limited (NYSE:IBN) by 256.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 584,103 shares of the bank’s stock after purchasing an additional 420,456 shares during the period. Neuberger Berman Group LLC’s holdings in ICICI Bank Limited were worth $5,239,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of the stock. Wellington Management Group LLP grew its stake in shares of ICICI Bank Limited by 8.2% during the first quarter. Wellington Management Group LLP now owns 33,819,375 shares of the bank’s stock worth $290,846,000 after purchasing an additional 2,560,119 shares in the last quarter. Black Creek Investment Management Inc. grew its stake in shares of ICICI Bank Limited by 10.2% during the first quarter. Black Creek Investment Management Inc. now owns 26,928,338 shares of the bank’s stock worth $231,584,000 after purchasing an additional 2,484,955 shares in the last quarter. Earnest Partners LLC grew its stake in shares of ICICI Bank Limited by 5.3% during the first quarter. Earnest Partners LLC now owns 18,952,981 shares of the bank’s stock worth $162,996,000 after purchasing an additional 945,965 shares in the last quarter. BlackRock Inc. grew its stake in shares of ICICI Bank Limited by 9,570.9% during the first quarter. BlackRock Inc. now owns 16,350,196 shares of the bank’s stock worth $140,610,000 after purchasing an additional 16,181,130 shares in the last quarter. Finally, Bank of America Corp DE grew its stake in shares of ICICI Bank Limited by 5.0% during the first quarter. Bank of America Corp DE now owns 14,457,155 shares of the bank’s stock worth $124,331,000 after purchasing an additional 691,671 shares in the last quarter. Hedge funds and other institutional investors own 21.66% of the company’s stock.

ICICI Bank Limited (NYSE IBN) opened at 9.12 on Wednesday. The company’s 50 day moving average is $9.25 and its 200-day moving average is $8.58. ICICI Bank Limited has a 52 week low of $6.43 and a 52 week high of $9.85. The firm has a market cap of $29.22 billion, a P/E ratio of 18.17 and a beta of 1.79.

ICICI Bank Limited (NYSE:IBN) last released its quarterly 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 business had revenue of $1.39 billion during the quarter. ICICI Bank Limited had a net margin of 13.03% and a return on equity of 8.86%. Equities analysts expect that ICICI Bank Limited will post $0.38 earnings per share for the current year.

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IBN has been the subject of a number of analyst reports. BidaskClub upgraded shares of ICICI Bank Limited from a “hold” rating to a “buy” rating in a research note on Saturday, August 26th. Zacks Investment Research downgraded shares of ICICI Bank Limited from a “buy” rating to a “hold” rating in a research note on Tuesday, June 6th. Goldman Sachs Group, Inc. (The) upgraded shares of ICICI Bank Limited from a “buy” rating to a “conviction-buy” rating in a research note on Tuesday, June 6th. Finally, ValuEngine upgraded shares of ICICI Bank Limited from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Buy” and an average target price 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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