Mitsubishi UFJ Trust & Banking Corp Buys 491,053 Shares of ICICI Bank Limited (IBN)

Mitsubishi UFJ Trust & Banking Corp boosted its stake in ICICI Bank Limited (NYSE:IBN) by 15.6% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,646,144 shares of the bank’s stock after buying an additional 491,053 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.11% of ICICI Bank worth $31,211,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of the stock. Campbell & CO Investment Adviser LLC purchased a new stake in ICICI Bank in the 3rd quarter valued at approximately $411,000. Zeke Capital Advisors LLC purchased a new position in shares of ICICI Bank during the 3rd quarter worth $271,000. Axiom International Investors LLC DE increased its holdings in shares of ICICI Bank by 6.3% during the 3rd quarter. Axiom International Investors LLC DE now owns 10,642,130 shares of the bank’s stock worth $91,097,000 after buying an additional 630,346 shares during the last quarter. Schroder Investment Management Group increased its holdings in shares of ICICI Bank by 164.4% during the 3rd quarter. Schroder Investment Management Group now owns 161,186 shares of the bank’s stock worth $1,372,000 after buying an additional 100,233 shares during the last quarter. Finally, Trexquant Investment LP acquired a new stake in shares of ICICI Bank during the 3rd quarter worth $292,000. 21.97% of the stock is currently owned by hedge funds and other institutional investors.

A number of analysts have recently commented on the company. BidaskClub downgraded ICICI Bank from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. ValuEngine downgraded ICICI Bank from a “buy” rating to a “hold” rating in a report on Wednesday, September 27th. Zacks Investment Research upgraded ICICI Bank from a “hold” rating to a “buy” rating and set a $9.50 price objective for the company in a report on Tuesday, September 26th. Morgan Stanley upgraded ICICI Bank from an “underweight” rating to an “overweight” rating in a report on Wednesday, October 25th. Finally, Jefferies Group upgraded ICICI Bank from a “hold” rating to a “buy” rating in a report on Monday, October 30th. One equities research analyst has rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. ICICI Bank currently has an average rating of “Buy” and a consensus target price of $9.50.

Shares of ICICI Bank Limited (IBN) traded down $0.03 during midday trading on Tuesday, reaching $9.35. The company had a trading volume of 4,429,600 shares, compared to its average volume of 8,116,637. ICICI Bank Limited has a 52-week low of $6.69 and a 52-week high of $9.93. The firm has a market cap of $30,048.47, a P/E ratio of 23.45, a P/E/G ratio of 1.02 and a beta of 1.73. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.72.

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ICICI Bank Profile

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.

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

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