Schafer Cullen Capital Management Inc Increases Stake in ICICI Bank Ltd (IBN)

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Schafer Cullen Capital Management Inc lifted its holdings in shares of ICICI Bank Ltd (NYSE:IBN) by 16.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 740,817 shares of the bank’s stock after acquiring an additional 105,093 shares during the period. Schafer Cullen Capital Management Inc’s holdings in ICICI Bank were worth $7,623,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Samlyn Capital LLC grew its position in shares of ICICI Bank by 96.9% during the fourth quarter. Samlyn Capital LLC now owns 3,929,789 shares of the bank’s stock worth $40,437,000 after acquiring an additional 1,933,648 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of ICICI Bank by 83.2% during the fourth quarter. Principal Financial Group Inc. now owns 145,612 shares of the bank’s stock worth $1,498,000 after acquiring an additional 66,115 shares during the last quarter. Bronfman E.L. Rothschild L.P. grew its position in shares of ICICI Bank by 259.6% during the fourth quarter. Bronfman E.L. Rothschild L.P. now owns 46,681 shares of the bank’s stock worth $480,000 after acquiring an additional 33,700 shares during the last quarter. NINE MASTS CAPITAL Ltd purchased a new position in shares of ICICI Bank during the fourth quarter worth approximately $28,000,000. Finally, Charles Lim Capital Ltd purchased a new position in shares of ICICI Bank during the fourth quarter worth approximately $28,261,000. Institutional investors and hedge funds own 23.16% of the company’s stock.

NYSE:IBN traded down $0.02 during midday trading on Tuesday, reaching $11.44. The stock had a trading volume of 68,925 shares, compared to its average volume of 6,515,838. ICICI Bank Ltd has a 12-month low of $7.61 and a 12-month high of $11.47. The firm has a market cap of $36.23 billion, a price-to-earnings ratio of 35.72 and a beta of 0.95.

A number of equities analysts have recently issued reports on the stock. ValuEngine upgraded shares of ICICI Bank from a “hold” rating to a “buy” rating in a research report on Tuesday. Sanford C. Bernstein upgraded shares of ICICI Bank from an “underperform” rating to a “market perform” rating in a research report on Monday, February 4th. Zacks Investment Research upgraded shares of ICICI Bank from a “hold” rating to a “strong-buy” rating and set a $12.00 target price on the stock in a research report on Friday, January 11th. Finally, HSBC lowered shares of ICICI Bank from a “buy” rating to a “hold” rating in a research report on Friday, November 23rd. Two equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. ICICI Bank presently has a consensus rating of “Buy” and a consensus target price 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.

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

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