Mitsubishi UFJ Trust & Banking Corp grew its position in shares of ICICI Bank Limited (NYSE:IBN) by 15.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,646,144 shares of the bank’s stock after acquiring an additional 491,053 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned about 0.11% of ICICI Bank worth $31,211,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. BT Investment Management Ltd acquired a new stake in ICICI Bank during the 2nd quarter worth about $86,396,000. Lazard Asset Management LLC grew its stake in ICICI Bank by 90.0% during the 2nd quarter. Lazard Asset Management LLC now owns 19,738,017 shares of the bank’s stock valued at $177,050,000 after acquiring an additional 9,351,380 shares in the last quarter. Baillie Gifford & Co. grew its stake in ICICI Bank by 34.1% during the 3rd quarter. Baillie Gifford & Co. now owns 28,409,871 shares of the bank’s stock valued at $243,188,000 after acquiring an additional 7,216,548 shares in the last quarter. LMR Partners LLP grew its stake in ICICI Bank by 102.2% during the 2nd quarter. LMR Partners LLP now owns 12,055,375 shares of the bank’s stock valued at $108,324,000 after acquiring an additional 6,091,901 shares in the last quarter. Finally, Harding Loevner LP grew its stake in ICICI Bank by 11.1% during the 2nd quarter. Harding Loevner LP now owns 49,907,254 shares of the bank’s stock valued at $447,668,000 after acquiring an additional 4,972,062 shares in the last quarter. 21.97% of the stock is owned by institutional investors.
Shares of ICICI Bank Limited (IBN) traded down $0.17 during trading hours on Thursday, reaching $9.43. The company’s stock had a trading volume of 7,773,600 shares, compared to its average volume of 8,056,459. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.72. The company has a market capitalization of $30,753.24, a PE ratio of 24.00, a price-to-earnings-growth ratio of 1.05 and a beta of 1.73. ICICI Bank Limited has a 52-week low of $6.69 and a 52-week high of $9.93.
Several research firms have weighed in on IBN. ValuEngine raised ICICI Bank from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Jefferies Group raised ICICI Bank from a “hold” rating to a “buy” rating in a research note on Monday, October 30th. Morgan Stanley raised ICICI Bank from an “underweight” rating to an “overweight” rating in a research report on Wednesday, October 25th. BidaskClub raised ICICI Bank from a “hold” rating to a “buy” rating in a research report on Saturday, August 26th. Finally, Zacks Investment Research upgraded ICICI Bank from a “hold” rating to a “buy” rating and set a $9.50 price target for the company in a report on Tuesday, September 26th. One research analyst has rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. ICICI Bank has an average rating of “Buy” and a consensus price target of $9.50.
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About ICICI Bank
ICICI Bank Limited is a banking company. The Bank is engaged in providing a range of banking and financial services, including commercial banking, retail banking, project and corporate finance, working capital finance, insurance, venture capital and private equity, investment banking, broking and treasury products and services.
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