Bank of Montreal Can grew its position in shares of ICICI Bank Ltd (NYSE:IBN) by 29.6% during the 4th quarter, Holdings Channel reports. The firm owned 4,781,644 shares of the bank’s stock after acquiring an additional 1,092,901 shares during the period. Bank of Montreal Can’s holdings in ICICI Bank were worth $46,526,000 at the end of the most recent reporting period.
Other institutional investors have also recently made changes to their positions in the company. Eqis Capital Management Inc. increased its position in shares of ICICI Bank by 48.3% during the 3rd quarter. Eqis Capital Management Inc. now owns 89,527 shares of the bank’s stock valued at $766,000 after purchasing an additional 29,145 shares during the last quarter. Nomura Asset Management Co. Ltd. grew its position in ICICI Bank by 874.8% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 951,270 shares of the bank’s stock worth $8,143,000 after acquiring an additional 853,680 shares during the last quarter. TT International bought a new position in ICICI Bank during the 3rd quarter worth approximately $1,884,000. Capital Research Global Investors grew its position in ICICI Bank by 10.3% during the 2nd quarter. Capital Research Global Investors now owns 2,152,702 shares of the bank’s stock worth $19,310,000 after acquiring an additional 201,279 shares during the last quarter. Finally, Ameriprise Financial Inc. grew its position in ICICI Bank by 11.0% during the 3rd quarter. Ameriprise Financial Inc. now owns 4,669,227 shares of the bank’s stock worth $39,942,000 after acquiring an additional 464,512 shares during the last quarter. Hedge funds and other institutional investors own 21.96% of the company’s stock.
Several equities analysts recently issued reports on IBN shares. Zacks Investment Research upgraded ICICI Bank from a “hold” rating to a “buy” rating and set a $9.50 price target on the stock in a research report on Tuesday, September 26th. ValuEngine lowered ICICI Bank from a “buy” rating to a “hold” rating in a research report on Wednesday, September 27th. Morgan Stanley upgraded ICICI Bank from an “underweight” rating to an “overweight” rating in a research report on Wednesday, October 25th. Finally, Jefferies Group upgraded ICICI Bank from a “hold” rating to a “buy” rating in a research report on Monday, October 30th. Two equities research analysts have rated the stock with a hold rating, four have assigned 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 an average price target of $11.00.
ICICI Bank (NYSE:IBN) last posted its quarterly earnings results on Friday, October 27th. The bank reported $0.10 earnings per share (EPS) for the quarter. ICICI Bank had a return on equity of 7.95% and a net margin of 11.74%. equities analysts forecast that ICICI Bank Ltd will post 0.47 EPS for the current year.
About ICICI Bank
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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