ICICI Bank Limited (NYSE:IBN) Shares Bought by Pacad Investment Ltd.

Pacad Investment Ltd. raised its holdings in shares of ICICI Bank Limited (NYSE:IBN) by 503.1% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,630 shares of the bank’s stock after purchasing an additional 37,230 shares during the period. Pacad Investment Ltd.’s holdings in ICICI Bank Limited were worth $400,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Capstone Asset Management Co. raised its position in ICICI Bank Limited by 0.4% during the 2nd quarter. Capstone Asset Management Co. now owns 82,479 shares of the bank’s stock valued at $740,000 after purchasing an additional 360 shares during the last quarter. HighTower Advisors LLC raised its position in ICICI Bank Limited by 2.4% during the 1st quarter. HighTower Advisors LLC now owns 16,476 shares of the bank’s stock valued at $144,000 after purchasing an additional 384 shares during the last quarter. Baldwin Investment Management LLC raised its position in ICICI Bank Limited by 0.8% during the 2nd quarter. Baldwin Investment Management LLC now owns 61,073 shares of the bank’s stock valued at $548,000 after purchasing an additional 483 shares during the last quarter. Gilder Gagnon Howe & Co. LLC raised its position in ICICI Bank Limited by 5.3% during the 1st quarter. Gilder Gagnon Howe & Co. LLC now owns 13,956 shares of the bank’s stock valued at $120,000 after purchasing an additional 699 shares during the last quarter. Finally, Smithfield Trust Co. raised its position in ICICI Bank Limited by 9.0% during the 2nd quarter. Smithfield Trust Co. now owns 11,775 shares of the bank’s stock valued at $106,000 after purchasing an additional 968 shares during the last quarter. 21.65% of the stock is owned by institutional investors and hedge funds.

ICICI Bank Limited (NYSE:IBN) opened at 8.75 on Friday. The firm’s 50 day moving average price is $9.19 and its 200-day moving average price is $8.64. ICICI Bank Limited has a 12-month low of $6.43 and a 12-month high of $9.85. The stock has a market cap of $28.03 billion, a P/E ratio of 17.43 and a beta of 1.79.

ICICI Bank Limited (NYSE:IBN) last announced its quarterly earnings data on Thursday, July 27th. The bank reported $0.10 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.10. ICICI Bank Limited had a net margin of 13.03% and a return on equity of 8.86%. The business had revenue of $1.39 billion during the quarter. Equities research analysts anticipate that ICICI Bank Limited will post $0.38 earnings per share for the current fiscal year.

IBN has been the subject of a number of recent analyst reports. BidaskClub raised ICICI Bank Limited from a “hold” rating to a “buy” rating in a research report on Friday, June 23rd. Zacks Investment Research raised ICICI Bank Limited from a “hold” rating to a “buy” rating and set a $11.00 price target for the company in a research report on Wednesday, June 7th. ValuEngine raised ICICI Bank Limited from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. Finally, Goldman Sachs Group, Inc. (The) raised ICICI Bank Limited from a “buy” rating to a “conviction-buy” rating in a research report on Tuesday, June 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating, four have given a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $11.00.

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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.

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

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