ICICI Bank Ltd (NYSE:IBN) Shares Sold by Federated Investors Inc. PA

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Federated Investors Inc. PA trimmed its stake in shares of ICICI Bank Ltd (NYSE:IBN) by 3.4% in the first quarter, HoldingsChannel.com reports. The firm owned 721,451 shares of the bank’s stock after selling 25,229 shares during the quarter. Federated Investors Inc. PA’s holdings in ICICI Bank were worth $8,268,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently added to or reduced their stakes in the business. NumerixS Investment Technologies Inc acquired a new position in shares of ICICI Bank in the first quarter valued at approximately $54,000. Swiss National Bank increased its stake in shares of ICICI Bank by 3,958.2% in the first quarter. Swiss National Bank now owns 270,683 shares of the bank’s stock valued at $3,088,000 after buying an additional 264,013 shares during the period. Commonwealth Bank of Australia acquired a new position in shares of ICICI Bank in the first quarter valued at approximately $2,845,000. PNC Financial Services Group Inc. increased its stake in shares of ICICI Bank by 30.4% in the first quarter. PNC Financial Services Group Inc. now owns 724,863 shares of the bank’s stock valued at $8,308,000 after buying an additional 168,979 shares during the period. Finally, Advisor Group Inc. increased its stake in shares of ICICI Bank by 2.2% in the first quarter. Advisor Group Inc. now owns 49,193 shares of the bank’s stock valued at $563,000 after buying an additional 1,074 shares during the period. 23.16% of the stock is owned by hedge funds and other institutional investors.

IBN has been the topic of several analyst reports. ValuEngine upgraded ICICI Bank from a “hold” rating to a “buy” rating in a report on Tuesday, March 19th. Standpoint Research cut ICICI Bank from a “buy” rating to a “hold” rating in a report on Friday, March 29th. Zacks Investment Research upgraded ICICI Bank from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a report on Tuesday, April 9th. Finally, Goldman Sachs Group upgraded ICICI Bank from a “buy” rating to a “conviction-buy” rating in a report on Monday, April 15th. Four research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $12.00.

Shares of IBN stock opened at $11.92 on Thursday. ICICI Bank Ltd has a one year low of $7.61 and a one year high of $12.47. The company has a market capitalization of $38.74 billion, a P/E ratio of 86.00 and a beta of 0.81.

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ICICI Bank Company Profile

ICICI Bank Limited, together with its subsidiaries, provides banking and financial services in India and internationally. It operates through Retail Banking, Wholesale Banking, Treasury, Other Banking, Life Insurance, General Insurance, and Others segments. The company offers savings, salary, pension, current, and other accounts; and fixed, recurring, and security deposits.

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Institutional Ownership by Quarter for ICICI Bank (NYSE:IBN)

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