Indus Capital Partners LLC Cuts Holdings in ICICI Bank Ltd (IBN)

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Indus Capital Partners LLC cut its holdings in shares of ICICI Bank Ltd (NYSE:IBN) by 67.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,299,557 shares of the bank’s stock after selling 2,715,069 shares during the period. ICICI Bank accounts for approximately 1.1% of Indus Capital Partners LLC’s holdings, making the stock its 21st biggest holding. Indus Capital Partners LLC’s holdings in ICICI Bank were worth $10,435,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in IBN. Bellecapital International Ltd. acquired a new position in ICICI Bank during the 2nd quarter valued at about $100,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. acquired a new position in ICICI Bank during the 1st quarter valued at about $108,000. BB&T Securities LLC acquired a new position in ICICI Bank during the 1st quarter valued at about $114,000. Timber Hill LLC acquired a new position in ICICI Bank during the 1st quarter valued at about $121,000. Finally, Meristem LLP lifted its position in ICICI Bank by 57.4% during the 2nd 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. Institutional investors own 22.79% of the company’s stock.

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

Shares of NYSE:IBN opened at $9.20 on Thursday. The company has a market capitalization of $30.85 billion, a P/E ratio of 28.75, a PEG ratio of 1.17 and a beta of 1.94. The company has a debt-to-equity ratio of 1.97, a quick ratio of 1.12 and a current ratio of 1.12. ICICI Bank Ltd has a fifty-two week low of $7.61 and a fifty-two week high of $11.26.

ICICI Bank (NYSE:IBN) last announced its quarterly earnings results on Friday, July 27th. The bank reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.06 by ($0.07). The firm 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%. analysts forecast that ICICI Bank Ltd will post 0.37 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, 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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