Virtu Financial LLC bought a new position in shares of ICICI Bank Ltd (NYSE:IBN) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 16,411 shares of the bank’s stock, valued at approximately $188,000.
Several other hedge funds have also recently bought and sold shares of the business. Lindbrook Capital LLC purchased a new stake in shares of ICICI Bank in the 4th quarter worth $46,000. Rehmann Capital Advisory Group increased its stake in shares of ICICI Bank by 28.3% in the 4th quarter. Rehmann Capital Advisory Group now owns 6,069 shares of the bank’s stock worth $62,000 after purchasing an additional 1,339 shares in the last quarter. Navellier & Associates Inc increased its stake in shares of ICICI Bank by 53.5% in the 4th quarter. Navellier & Associates Inc now owns 6,649 shares of the bank’s stock worth $68,000 after purchasing an additional 2,317 shares in the last quarter. Nuveen Asset Management LLC purchased a new stake in shares of ICICI Bank in the 4th quarter worth $108,000. Finally, Private Advisor Group LLC purchased a new stake in shares of ICICI Bank in the 4th quarter worth $114,000. Hedge funds and other institutional investors own 23.16% of the company’s stock.
Shares of NYSE:IBN traded down $0.06 during trading on Wednesday, reaching $11.48. The company’s stock had a trading volume of 6,225,117 shares, compared to its average volume of 7,502,171. ICICI Bank Ltd has a 12 month low of $7.61 and a 12 month high of $11.72. The company has a market cap of $36.90 billion, a price-to-earnings ratio of 35.88 and a beta of 0.96.
A number of equities research analysts have issued reports on the company. ValuEngine upgraded ICICI Bank from a “hold” rating to a “buy” rating in a research note on Tuesday, March 19th. Standpoint Research lowered ICICI Bank from a “buy” rating to a “hold” rating in a research note on Friday, March 29th. Goldman Sachs Group upgraded ICICI Bank from a “buy” rating to a “conviction-buy” rating in a research note on Monday, April 15th. Sanford C. Bernstein upgraded ICICI Bank from an “underperform” rating to a “market perform” rating in a research note on Monday, February 4th. Finally, Zacks Investment Research upgraded ICICI Bank from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research note on Tuesday, April 9th. Four research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $12.00.
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ICICI Bank 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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