Neuberger Berman Group LLC raised its stake in shares of ICICI Bank Limited (NYSE:IBN) by 6.3% during the first quarter, Holdings Channel reports. The firm owned 163,647 shares of the bank’s stock after buying an additional 9,731 shares during the period. Neuberger Berman Group LLC’s holdings in ICICI Bank Limited were worth $1,407,000 at the end of the most recent reporting period.
Other institutional investors have also added to or reduced their stakes in the company. River & Mercantile Asset Management LLP acquired a new position in ICICI Bank Limited during the fourth quarter valued at about $2,143,000. Augustine Asset Management Inc. acquired a new position in ICICI Bank Limited during the first quarter valued at about $2,258,000. Karp Capital Management Corp acquired a new position in ICICI Bank Limited during the first quarter valued at about $5,779,000. FMR LLC boosted its position in ICICI Bank Limited by 29.2% in the fourth quarter. FMR LLC now owns 3,368,700 shares of the bank’s stock valued at $25,232,000 after buying an additional 761,500 shares during the period. Finally, Portland Global Advisors LLC boosted its position in ICICI Bank Limited by 0.3% in the first quarter. Portland Global Advisors LLC now owns 237,164 shares of the bank’s stock valued at $2,040,000 after buying an additional 650 shares during the period. 22.56% of the stock is currently owned by institutional investors and hedge funds.
The business also recently disclosed an annual dividend, which was paid on Wednesday, June 21st. Stockholders of record on Wednesday, June 21st were issued a $0.078 dividend. The ex-dividend date of this dividend was Monday, June 19th.
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A number of equities research analysts have weighed in on the stock. Morgan Stanley lowered shares of ICICI Bank Limited from an “equal weight” rating to an “underweight” rating in a research note on Tuesday, March 21st. Jefferies Group LLC lowered shares of ICICI Bank Limited from a “buy” rating to a “hold” rating in a research note on Monday, March 6th. Macquarie upgraded shares of ICICI Bank Limited from a “neutral” rating to an “outperform” rating in a research note on Monday, March 20th. Zacks Investment Research lowered shares of ICICI Bank Limited from a “buy” rating to a “hold” rating in a research note on Wednesday, March 8th. Finally, 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. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. ICICI Bank Limited presently has an average rating of “Hold” and a consensus 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.
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