Diversified Trust Co lowered its position in HDFC Bank Limited (NYSE:HDB) by 6.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 71,090 shares of the bank’s stock after selling 4,711 shares during the period. HDFC Bank Limited makes up 0.5% of Diversified Trust Co’s portfolio, making the stock its 24th largest position. Diversified Trust Co’s holdings in HDFC Bank Limited were worth $6,183,000 as of its most recent filing with the SEC.
Other institutional investors also recently modified their holdings of the company. DnB Asset Management AS increased its position in shares of HDFC Bank Limited by 11.6% in the first quarter. DnB Asset Management AS now owns 14,400 shares of the bank’s stock valued at $1,083,000 after buying an additional 1,500 shares during the last quarter. Legato Capital Management LLC increased its position in shares of HDFC Bank Limited by 7,422.0% in the first quarter. Legato Capital Management LLC now owns 5,002,130 shares of the bank’s stock valued at $66,500,000 after buying an additional 4,935,630 shares during the last quarter. Capstone Asset Management Co. increased its position in shares of HDFC Bank Limited by 0.8% in the first quarter. Capstone Asset Management Co. now owns 25,437 shares of the bank’s stock valued at $1,913,000 after buying an additional 190 shares during the last quarter. Bank of Montreal Can increased its position in shares of HDFC Bank Limited by 31.5% in the first quarter. Bank of Montreal Can now owns 831,490 shares of the bank’s stock valued at $62,544,000 after buying an additional 199,225 shares during the last quarter. Finally, Laurel Grove Capital LLC bought a new position in shares of HDFC Bank Limited during the first quarter valued at approximately $252,000. 18.59% of the stock is owned by institutional investors and hedge funds.
HDFC Bank Limited (NYSE:HDB) opened at 97.41 on Friday. HDFC Bank Limited has a 1-year low of $59.00 and a 1-year high of $99.77. The company has a market cap of $499.24 billion, a P/E ratio of 212.22 and a beta of 0.87. The stock’s 50 day moving average is $90.36 and its 200 day moving average is $79.99.
The business also recently declared a None dividend, which was paid on Thursday, August 3rd. Shareholders of record on Thursday, June 29th were paid a $0.494 dividend. The ex-dividend date of this dividend was Tuesday, June 27th.
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Several equities analysts recently commented on the stock. Jefferies Group LLC raised 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 research note on Tuesday, July 25th. BidaskClub raised shares of HDFC Bank Limited from a “buy” rating to a “strong-buy” rating in a research note 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 objective for the company in a research note on Friday, July 21st. One equities research analyst has rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and an average 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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