ICICI Bank Ltd (IBN) Shares Bought by Deprince Race & Zollo Inc.

Deprince Race & Zollo Inc. boosted its position in ICICI Bank Ltd (NYSE:IBN) by 7.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 967,601 shares of the bank’s stock after purchasing an additional 63,000 shares during the period. Deprince Race & Zollo Inc.’s holdings in ICICI Bank were worth $9,957,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of IBN. Lindbrook Capital LLC bought a new position in ICICI Bank in the fourth quarter worth approximately $46,000. Rehmann Capital Advisory Group lifted its holdings in shares of ICICI Bank by 28.3% in the fourth quarter. Rehmann Capital Advisory Group now owns 6,069 shares of the bank’s stock valued at $62,000 after purchasing an additional 1,339 shares in the last quarter. Navellier & Associates Inc lifted its holdings in shares of ICICI Bank by 53.5% in the fourth quarter. Navellier & Associates Inc now owns 6,649 shares of the bank’s stock valued at $68,000 after purchasing an additional 2,317 shares in the last quarter. Nuveen Asset Management LLC bought a new position in shares of ICICI Bank in the fourth quarter valued at approximately $108,000. Finally, Aviva PLC bought a new position in shares of ICICI Bank in the third quarter valued at approximately $109,000. 23.16% of the stock is owned by institutional investors and hedge funds.

A number of research firms have recently weighed in on IBN. Goldman Sachs Group upgraded ICICI Bank from a “buy” rating to a “conviction-buy” rating in a report on Monday, April 15th. Zacks Investment Research raised ICICI Bank from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research report on Tuesday, April 9th. Standpoint Research downgraded ICICI Bank from a “buy” rating to a “hold” rating in a research report on Friday, March 29th. ValuEngine raised ICICI Bank from a “hold” rating to a “buy” rating in a research report on Tuesday, March 19th. Finally, Sanford C. Bernstein raised ICICI Bank from an “underperform” rating to a “market perform” rating in a research report on Monday, February 4th. Three investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. ICICI Bank has a consensus rating of “Buy” and a consensus price target of $12.00.

Shares of NYSE IBN traded down $0.10 during mid-day trading on Friday, hitting $11.53. The company had a trading volume of 4,932,275 shares, compared to its average volume of 9,412,258. ICICI Bank Ltd has a 1 year low of $7.61 and a 1 year high of $11.72.

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ICICI Bank 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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