Shares of HDFC Bank Ltd. (NYSE:HDB) gapped up prior to trading on Wednesday . The stock had previously closed at $71.79, but opened at $71.85. HDFC Bank shares last traded at $72.68, with a volume of 426,698 shares.

Separately, Goldman Sachs Group Inc. reiterated a “buy” rating on shares of HDFC Bank in a research note on Wednesday, September 14th.

The company has a market capitalization of $370.28 billion, a PE ratio of 195.28 and a beta of 1.28. The company has a 50 day moving average price of $71.19 and a 200 day moving average price of $65.60.

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Several hedge funds and other institutional investors have recently bought and sold shares of HDB. Mirae Asset Global Investments Co. Ltd. raised its stake in HDFC Bank by 73.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 9,038 shares of the company’s stock worth $557,000 after buying an additional 3,820 shares during the period. BB&T Securities LLC raised its stake in HDFC Bank by 8.4% in the first quarter. BB&T Securities LLC now owns 27,967 shares of the company’s stock worth $1,723,000 after buying an additional 2,173 shares during the period. Credit Agricole S A raised its stake in HDFC Bank by 288.2% in the first quarter. Credit Agricole S A now owns 542,124 shares of the company’s stock worth $33,411,000 after buying an additional 402,465 shares during the period. Motley Fool Wealth Management LLC raised its stake in HDFC Bank by 10.0% in the first quarter. Motley Fool Wealth Management LLC now owns 53,366 shares of the company’s stock worth $3,289,000 after buying an additional 4,871 shares during the period. Finally, M&T Bank Corp raised its stake in HDFC Bank by 18.8% in the first quarter. M&T Bank Corp now owns 47,192 shares of the company’s stock worth $2,908,000 after buying an additional 7,459 shares during the period. Hedge funds and other institutional investors own 17.58% of the company’s stock.

About HDFC Bank

HDFC Bank Limited (HDFC Bank) is a banking company. The Bank is engaged in providing a range of banking and financial services including commercial banking and treasury operations. It operates in four segments: Treasury, Retail Banking, Wholesale banking and other banking business. The treasury segment primarily consists of net interest earnings from the Bank’s investment portfolio, money market borrowing and lending, gains or losses on investment operations.

5 Day Chart for NYSE:HDB

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