Vanguard Group Inc. boosted its position in shares of HDFC Bank Limited (NYSE:HDB) by 15.8% during the first quarter, Holdings Channel reports. The firm owned 969,999 shares of the bank’s stock after buying an additional 132,310 shares during the period. Vanguard Group Inc.’s holdings in HDFC Bank Limited were worth $72,964,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Marshall Wace North America L.P. purchased a new position in HDFC Bank Limited during the first quarter worth about $415,000. MARSHALL WACE ASIA Ltd purchased a new position in HDFC Bank Limited during the first quarter worth about $415,000. Overbrook Management Corp purchased a new position in HDFC Bank Limited during the first quarter worth about $293,000. Financial Counselors Inc. boosted its position in HDFC Bank Limited by 0.7% in the first quarter. Financial Counselors Inc. now owns 5,745 shares of the bank’s stock worth $432,000 after buying an additional 39 shares during the period. Finally, Sustainable Growth Advisers LP boosted its position in HDFC Bank Limited by 14.0% in the first quarter. Sustainable Growth Advisers LP now owns 570,887 shares of the bank’s stock worth $42,943,000 after buying an additional 70,265 shares during the period. Institutional investors own 18.59% of the company’s stock.
Shares of HDFC Bank Limited (NYSE:HDB) traded up 0.12% during mid-day trading on Friday, hitting $98.42. 57,411 shares of the company were exchanged. The firm has a market capitalization of $504.41 billion, a P/E ratio of 214.42 and a beta of 0.87. HDFC Bank Limited has a 12-month low of $59.00 and a 12-month high of $99.77. The company’s 50-day moving average price is $90.36 and its 200-day moving average price is $79.99.
The business also recently disclosed a None dividend, which was paid on Thursday, August 3rd. Investors of record on Thursday, June 29th were paid a $0.494 dividend. The ex-dividend date was Tuesday, June 27th.
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A number of research analysts have recently issued reports on the stock. Jefferies Group LLC upgraded shares of HDFC Bank Limited from a “hold” rating to a “buy” rating in a research note on Tuesday, July 25th. Morgan Stanley raised shares of HDFC Bank Limited from an “equal weight” rating to an “overweight” rating in a report on Tuesday, July 25th. BidaskClub raised shares of HDFC Bank Limited from a “buy” rating to a “strong-buy” rating in a report on Monday, July 24th. Finally, Zacks Investment Research raised shares of HDFC Bank Limited from a “hold” rating to a “buy” rating and set a $103.00 price target for the company in a report on Friday, July 21st. One analyst has rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. HDFC Bank Limited has a consensus rating of “Buy” and a consensus target price of $103.00.
About HDFC Bank Limited
HDFC Bank Limited (the Bank) is a holding company. The Bank offers a range of banking services covering commercial and investment banking on the wholesale side and transactional/branch banking on the retail side. It also offers financial services. The Bank’s segments include Treasury, Retail banking, Wholesale banking and Other banking business.
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