ICICI Bank Ltd (IBN) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lessened its holdings in shares of ICICI Bank Ltd (NYSE:IBN) by 36.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 772,186 shares of the bank’s stock after selling 433,767 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in ICICI Bank were worth $6,201,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in IBN. Baltimore Capital Management Inc. acquired a new stake in shares of ICICI Bank during the 2nd quarter valued at about $223,000. Fiera Capital Corp lifted its holdings in shares of ICICI Bank by 28.5% during the 2nd quarter. Fiera Capital Corp now owns 2,164,715 shares of the bank’s stock valued at $17,383,000 after buying an additional 480,000 shares during the last quarter. TT International lifted its holdings in shares of ICICI Bank by 46.3% during the 1st quarter. TT International now owns 321,999 shares of the bank’s stock valued at $2,849,000 after buying an additional 101,833 shares during the last quarter. Temasek Holdings Private Ltd lifted its holdings in shares of ICICI Bank by 207.6% during the 1st quarter. Temasek Holdings Private Ltd now owns 8,639,819 shares of the bank’s stock valued at $76,462,000 after buying an additional 5,830,832 shares during the last quarter. Finally, Algebris UK Ltd lifted its holdings in shares of ICICI Bank by 72.4% during the 1st quarter. Algebris UK Ltd now owns 1,162,798 shares of the bank’s stock valued at $10,291,000 after buying an additional 488,400 shares during the last quarter. 22.61% of the stock is currently owned by institutional investors.

IBN has been the subject of several research reports. ValuEngine lowered ICICI Bank from a “hold” rating to a “sell” rating in a report on Friday, June 15th. Goldman Sachs Group lowered ICICI Bank from a “conviction-buy” rating to a “buy” rating in a report on Thursday, June 21st. Finally, Zacks Investment Research lowered ICICI Bank from a “hold” rating to a “sell” rating in a report on Monday. One research analyst has rated the stock with a sell rating, one has given a hold rating and four have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $11.00.

Shares of ICICI Bank stock opened at $9.41 on Thursday. The stock has a market cap of $30.46 billion, a PE ratio of 29.41, a PEG ratio of 1.16 and a beta of 2.05. The company has a debt-to-equity ratio of 1.97, a current ratio of 1.12 and a quick ratio of 1.12. ICICI Bank Ltd has a 52-week low of $7.61 and a 52-week high of $11.26.

About ICICI Bank

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, other accounts; and fixed, recurring, and security deposits.

Further Reading: Dividend

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

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