Geneva Advisors LLC cut its stake in shares of HDFC Bank Limited (NYSE:HDB) by 4.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,468 shares of the bank’s stock after selling 2,825 shares during the period. Geneva Advisors LLC’s holdings in HDFC Bank Limited were worth $4,911,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of HDB. Parallel Advisors LLC increased its position in HDFC Bank Limited by 17.1% in the first quarter. Parallel Advisors LLC now owns 1,280 shares of the bank’s stock valued at $104,000 after buying an additional 187 shares in the last quarter. Creative Planning increased its position in HDFC Bank Limited by 6.3% in the first quarter. Creative Planning now owns 1,700 shares of the bank’s stock valued at $128,000 after buying an additional 100 shares in the last quarter. Independent Portfolio Consultants Inc. increased its position in HDFC Bank Limited by 744.5% in the second quarter. Independent Portfolio Consultants Inc. now owns 1,689 shares of the bank’s stock valued at $147,000 after buying an additional 1,489 shares in the last quarter. Huntington National Bank increased its position in HDFC Bank Limited by 4.9% in the second quarter. Huntington National Bank now owns 1,730 shares of the bank’s stock valued at $150,000 after buying an additional 81 shares in the last quarter. Finally, Shine Investment Advisory Services Inc. purchased a new position in HDFC Bank Limited during the second quarter valued at approximately $156,000. 18.72% of the stock is owned by hedge funds and other institutional investors.
HDFC Bank Limited (NYSE:HDB) opened at 96.07 on Friday. The company has a 50-day moving average price of $94.06 and a 200 day moving average price of $83.18. The firm has a market capitalization of $492.37 billion, a P/E ratio of 207.94 and a beta of 0.87. HDFC Bank Limited has a 1-year low of $59.00 and a 1-year high of $99.77.
The firm also recently announced a None dividend, which was paid on Thursday, August 3rd. Stockholders of record on Thursday, June 29th were issued a $0.494 dividend. The ex-dividend date was Tuesday, June 27th. HDFC Bank Limited’s payout ratio is currently 18.42%.
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Several research analysts recently commented on HDB shares. Jefferies Group LLC raised HDFC Bank Limited from a “hold” rating to a “buy” rating in a research note on Tuesday, July 25th. Zacks Investment Research raised 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. Finally, BidaskClub downgraded HDFC Bank Limited from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 24th. Two equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $107.00.
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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