OppenheimerFunds Inc. Has $583.53 Million Position in ICICI Bank Ltd (IBN)

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OppenheimerFunds Inc. boosted its position in shares of ICICI Bank Ltd (NYSE:IBN) by 10.5% in the second quarter, HoldingsChannel.com reports. The firm owned 72,668,260 shares of the bank’s stock after purchasing an additional 6,931,319 shares during the period. ICICI Bank accounts for 0.7% of OppenheimerFunds Inc.’s investment portfolio, making the stock its 20th biggest holding. OppenheimerFunds Inc.’s holdings in ICICI Bank were worth $583,526,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of IBN. Bellecapital International Ltd. acquired a new position in ICICI Bank during the second quarter valued at approximately $100,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. acquired a new position in ICICI Bank during the first quarter valued at approximately $108,000. BB&T Securities LLC acquired a new position in ICICI Bank during the first quarter valued at approximately $114,000. Timber Hill LLC acquired a new position in ICICI Bank during the first quarter valued at approximately $121,000. Finally, Meristem LLP grew its holdings in ICICI Bank by 57.4% during the second quarter. Meristem LLP now owns 15,763 shares of the bank’s stock valued at $127,000 after purchasing an additional 5,749 shares during the period. Hedge funds and other institutional investors own 22.79% of the company’s stock.

IBN has been the subject of a number of analyst reports. ValuEngine cut shares of ICICI Bank from a “hold” rating to a “sell” rating in a report on Wednesday, May 9th. Goldman Sachs Group cut shares of ICICI Bank from a “conviction-buy” rating to a “buy” rating in a report on Thursday, June 21st. Finally, Zacks Investment Research cut shares of ICICI Bank from a “hold” rating to a “sell” rating in a report on Monday, August 13th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $11.00.

ICICI Bank stock opened at $9.14 on Wednesday. The company has a market capitalization of $30.85 billion, a PE ratio of 28.56, a P/E/G ratio of 1.17 and a beta of 1.94. ICICI Bank Ltd has a twelve month low of $7.61 and a twelve month high of $11.26. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 1.97.

ICICI Bank (NYSE:IBN) last released its quarterly earnings results on Friday, July 27th. The bank reported ($0.01) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.06 by ($0.07). The company had revenue of $1.45 billion during the quarter, compared to analyst estimates of $1.37 billion. ICICI Bank had a net margin of 6.04% and a return on equity of 3.93%. equities research analysts predict that ICICI Bank Ltd will post 0.37 EPS for the current fiscal year.

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.

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

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