Investors Purchase Large Volume of HDFC Bank Call Options (HDB)

HDFC Bank Limited (NYSE:HDB) was the target of some unusual options trading activity on Monday. Traders purchased 1,466 call options on the stock. This represents an increase of 752% compared to the average daily volume of 172 call options.

Shares of HDFC Bank (NYSE:HDB) opened at $101.34 on Thursday. HDFC Bank has a 1 year low of $59.11 and a 1 year high of $102.77. The stock has a market cap of $75,690.00, a PE ratio of 82.39, a price-to-earnings-growth ratio of 1.15 and a beta of 0.84.

A number of hedge funds and other institutional investors have recently bought and sold shares of HDB. Harding Loevner LP boosted its position in HDFC Bank by 2,141.9% during the third quarter. Harding Loevner LP now owns 78,647,160 shares of the bank’s stock valued at $248,755,000 after buying an additional 75,139,157 shares during the period. BlackRock Inc. boosted its position in HDFC Bank by 105.1% during the second quarter. BlackRock Inc. now owns 2,103,171 shares of the bank’s stock valued at $182,912,000 after buying an additional 1,077,828 shares during the period. Aberdeen Asset Management PLC UK boosted its position in HDFC Bank by 170.0% during the second quarter. Aberdeen Asset Management PLC UK now owns 1,357,680 shares of the bank’s stock valued at $118,078,000 after buying an additional 854,828 shares during the period. FMR LLC boosted its position in HDFC Bank by 4.1% during the second quarter. FMR LLC now owns 14,824,081 shares of the bank’s stock valued at $1,289,251,000 after buying an additional 589,126 shares during the period. Finally, Baillie Gifford & Co. boosted its holdings in shares of HDFC Bank by 64.6% during the third quarter. Baillie Gifford & Co. now owns 1,461,230 shares of the bank’s stock worth $140,818,000 after purchasing an additional 573,395 shares during the period. Institutional investors and hedge funds own 17.29% of the company’s stock.

Separately, Zacks Investment Research upgraded shares of HDFC Bank from a “hold” rating to a “buy” rating and set a $113.00 price target for the company in a research report on Monday. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. HDFC Bank currently has a consensus rating of “Buy” and a consensus price target of $113.00.

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HDFC Bank Company Profile

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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