ICICI Bank Ltd (IBN) Shares Bought by Schwab Charles Investment Management Inc.

Schwab Charles Investment Management Inc. increased its holdings in ICICI Bank Ltd (NYSE:IBN) by 21.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 428,857 shares of the bank’s stock after acquiring an additional 76,992 shares during the period. Schwab Charles Investment Management Inc.’s holdings in ICICI Bank were worth $3,672,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Harding Loevner LP lifted its stake in ICICI Bank by 11.1% in the 2nd quarter. Harding Loevner LP now owns 49,907,254 shares of the bank’s stock worth $447,668,000 after acquiring an additional 4,972,062 shares in the last quarter. Black Creek Investment Management Inc. lifted its stake in ICICI Bank by 18.2% in the 2nd quarter. Black Creek Investment Management Inc. now owns 31,817,417 shares of the bank’s stock worth $285,402,000 after acquiring an additional 4,889,079 shares in the last quarter. Baillie Gifford & Co. lifted its stake in ICICI Bank by 34.1% in the 3rd quarter. Baillie Gifford & Co. now owns 28,409,871 shares of the bank’s stock worth $243,188,000 after acquiring an additional 7,216,548 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in ICICI Bank by 6.3% in the 2nd quarter. Dimensional Fund Advisors LP now owns 23,956,005 shares of the bank’s stock worth $214,881,000 after acquiring an additional 1,413,942 shares in the last quarter. Finally, Earnest Partners LLC lifted its stake in ICICI Bank by 7.7% in the 2nd quarter. Earnest Partners LLC now owns 20,420,372 shares of the bank’s stock worth $183,171,000 after acquiring an additional 1,467,391 shares in the last quarter. 21.95% of the stock is owned by hedge funds and other institutional investors.

Shares of ICICI Bank Ltd (NYSE IBN) opened at $9.98 on Friday. ICICI Bank Ltd has a one year low of $6.82 and a one year high of $9.99. The firm has a market capitalization of $31,970.55, a PE ratio of 24.95, a PEG ratio of 0.95 and a beta of 1.74.

Several equities research analysts recently issued reports on IBN shares. Zacks Investment Research raised ICICI Bank from a “hold” rating to a “buy” rating and set a $9.50 price objective for the company in a research note on Tuesday, September 26th. ValuEngine downgraded ICICI Bank from a “buy” rating to a “hold” rating in a research note on Wednesday, September 27th. Morgan Stanley raised ICICI Bank from an “underweight” rating to an “overweight” rating in a research note on Wednesday, October 25th. Finally, Jefferies Group raised ICICI Bank from a “hold” rating to a “buy” rating in a research note on Monday, October 30th. Two research analysts have rated the stock with a hold rating, four have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $11.00.

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ICICI Bank Company 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.

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

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