ICICI Bank Ltd (IBN) Stake Lessened by Candriam Luxembourg S.C.A.

Candriam Luxembourg S.C.A. lowered its position in shares of ICICI Bank Ltd (NYSE:IBN) by 12.7% during the first quarter, HoldingsChannel.com reports. The fund owned 16,800 shares of the bank’s stock after selling 2,450 shares during the quarter. Candriam Luxembourg S.C.A.’s holdings in ICICI Bank were worth $193,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in IBN. Amundi Pioneer Asset Management Inc. grew its position in ICICI Bank by 61.2% during the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 330,730 shares of the bank’s stock valued at $3,403,000 after purchasing an additional 125,550 shares in the last quarter. Principal Financial Group Inc. grew its position in ICICI Bank by 83.2% during the fourth quarter. Principal Financial Group Inc. now owns 145,612 shares of the bank’s stock valued at $1,498,000 after purchasing an additional 66,115 shares in the last quarter. M&T Bank Corp grew its position in ICICI Bank by 222.8% during the fourth quarter. M&T Bank Corp now owns 41,132 shares of the bank’s stock valued at $423,000 after purchasing an additional 28,389 shares in the last quarter. Somerset Capital Management LLP grew its position in ICICI Bank by 6.8% during the first quarter. Somerset Capital Management LLP now owns 6,515,506 shares of the bank’s stock valued at $74,668,000 after purchasing an additional 412,553 shares in the last quarter. Finally, Navellier & Associates Inc grew its position in ICICI Bank by 53.5% during 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. Institutional investors and hedge funds own 23.16% of the company’s stock.

IBN stock opened at $10.97 on Friday. ICICI Bank Ltd has a 12 month low of $7.61 and a 12 month high of $11.72.

IBN has been the topic of a number of research analyst reports. ValuEngine raised shares of ICICI Bank from a “hold” rating to a “buy” rating in a research report on Tuesday, March 19th. Standpoint Research downgraded shares of ICICI Bank from a “buy” rating to a “hold” rating in a research report on Friday, March 29th. Goldman Sachs Group raised shares of ICICI Bank from a “buy” rating to a “conviction-buy” rating in a research report on Monday, April 15th. Sanford C. Bernstein raised shares of ICICI Bank from an “underperform” rating to a “market perform” rating in a research report on Monday, February 4th. Finally, Zacks Investment Research raised shares of ICICI Bank from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research report on Tuesday, April 9th. Four equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $12.00.

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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.

See Also: Compound Annual Growth Rate (CAGR)

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

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