GAM Holding AG lifted its stake in ICICI Bank Ltd (NYSE:IBN) by 21.5% during the first quarter, Holdings Channel reports. The fund owned 1,149,000 shares of the bank’s stock after purchasing an additional 203,360 shares during the quarter. GAM Holding AG’s holdings in ICICI Bank were worth $13,168,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Evergreen Capital Management LLC bought a new stake in shares of ICICI Bank in the first quarter valued at about $195,000. Dalton Investments LLC lifted its stake in shares of ICICI Bank by 4.7% in the first quarter. Dalton Investments LLC now owns 2,372,089 shares of the bank’s stock valued at $27,184,000 after buying an additional 107,039 shares during the period. NumerixS Investment Technologies Inc bought a new stake in shares of ICICI Bank in the first quarter valued at about $54,000. Swiss National Bank lifted its stake in shares of ICICI Bank by 3,958.2% in the first quarter. Swiss National Bank now owns 270,683 shares of the bank’s stock valued at $3,088,000 after buying an additional 264,013 shares during the period. Finally, Commonwealth Bank of Australia bought a new stake in shares of ICICI Bank in the first quarter valued at about $2,845,000. 23.16% of the stock is currently owned by institutional investors and hedge funds.

Several equities research analysts recently weighed in on the stock. ValuEngine upgraded shares of ICICI Bank from a “hold” rating to a “buy” rating in a research note on Tuesday, March 19th. Standpoint Research cut shares of ICICI Bank from a “buy” rating to a “hold” rating in a research note on Friday, March 29th. Zacks Investment Research raised shares of ICICI Bank from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research report on Tuesday, April 9th. 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. Finally, 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. Four equities research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company. ICICI Bank currently has a consensus rating of “Buy” and a consensus target price of $12.00.

IBN stock traded down $0.20 during midday trading on Tuesday, reaching $11.75. The company’s stock had a trading volume of 189,539 shares, compared to its average volume of 8,689,819. ICICI Bank Ltd has a 52 week low of $7.61 and a 52 week high of $12.47.

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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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