ICICI Bank Ltd (IBN) Stake Lessened by Deltec Asset Management LLC

Deltec Asset Management LLC reduced its stake in shares of ICICI Bank Ltd (NYSE:IBN) by 13.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 657,079 shares of the bank’s stock after selling 106,100 shares during the quarter. ICICI Bank makes up approximately 1.1% of Deltec Asset Management LLC’s investment portfolio, making the stock its 28th largest position. Deltec Asset Management LLC’s holdings in ICICI Bank were worth $5,579,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently modified their holdings of the company. 180 Wealth Advisors LLC lifted its stake in ICICI Bank by 24.8% in the second quarter. 180 Wealth Advisors LLC now owns 28,177 shares of the bank’s stock worth $226,000 after acquiring an additional 5,593 shares during the period. Meristem LLP lifted its stake in ICICI Bank by 57.4% in the second quarter. Meristem LLP now owns 15,763 shares of the bank’s stock worth $127,000 after acquiring an additional 5,749 shares during the period. Envestnet Asset Management Inc. lifted its stake in ICICI Bank by 2.2% in the second quarter. Envestnet Asset Management Inc. now owns 293,822 shares of the bank’s stock worth $2,360,000 after acquiring an additional 6,220 shares during the period. Daiwa SB Investments Ltd. lifted its stake in ICICI Bank by 38.1% in the third quarter. Daiwa SB Investments Ltd. now owns 23,180 shares of the bank’s stock worth $197,000 after acquiring an additional 6,400 shares during the period. Finally, Aperio Group LLC lifted its stake in ICICI Bank by 0.5% in the second quarter. Aperio Group LLC now owns 1,200,828 shares of the bank’s stock worth $9,643,000 after acquiring an additional 6,503 shares during the period. 22.75% of the stock is owned by hedge funds and other institutional investors.

A number of analysts recently weighed in on IBN shares. JPMorgan Chase & Co. raised shares of ICICI Bank from a “neutral” rating to an “overweight” rating in a research note on Monday. Zacks Investment Research lowered shares of ICICI Bank from a “hold” rating to a “sell” rating in a research note on Monday, August 13th. Goldman Sachs Group lowered shares of ICICI Bank from a “conviction-buy” rating to a “buy” rating in a research note on Thursday, June 21st. Finally, ValuEngine lowered shares of ICICI Bank from a “hold” rating to a “sell” rating in a research note on Wednesday, June 27th. One analyst has rated the stock with a sell rating, one has issued a hold rating and four have assigned a buy rating to the company. ICICI Bank has an average rating of “Buy” and an average price target of $11.00.

NYSE:IBN traded down $0.23 during mid-day trading on Thursday, reaching $8.33. The company’s stock had a trading volume of 635,106 shares, compared to its average volume of 7,430,495. ICICI Bank Ltd has a 1 year low of $7.61 and a 1 year high of $11.26. The firm has a market cap of $27.20 billion, a PE ratio of 26.16 and a beta of 1.91. 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 (NYSE:IBN) last announced its earnings results on Friday, July 27th. The bank reported ($0.01) EPS for the quarter, missing the Zacks’ consensus estimate of $0.06 by ($0.07). The firm had revenue of $1.45 billion during the quarter, compared to the consensus estimate of $1.37 billion. ICICI Bank had a return on equity of 3.93% and a net margin of 6.04%. Sell-side analysts anticipate that ICICI Bank Ltd will post 0.27 EPS for the current fiscal year.

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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