SG Americas Securities LLC lifted its stake in HDFC Bank Limited (NYSE:HDB) by 330.5% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 121,615 shares of the bank’s stock after buying an additional 93,367 shares during the quarter. SG Americas Securities LLC’s holdings in HDFC Bank were worth $6,938,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Capital Insight Partners LLC increased its position in HDFC Bank by 1.4% in the second quarter. Capital Insight Partners LLC now owns 8,648 shares of the bank’s stock worth $1,125,000 after purchasing an additional 116 shares during the last quarter. Crossmark Global Holdings Inc. increased its position in HDFC Bank by 0.9% in the second quarter. Crossmark Global Holdings Inc. now owns 26,032 shares of the bank’s stock worth $3,385,000 after purchasing an additional 220 shares during the last quarter. EFG Asset Management Americas Corp. increased its position in HDFC Bank by 21.6% in the second quarter. EFG Asset Management Americas Corp. now owns 3,744 shares of the bank’s stock worth $487,000 after purchasing an additional 665 shares during the last quarter. Schwab Charitable Fund bought a new stake in HDFC Bank in the second quarter worth $451,000. Finally, Hexavest Inc. increased its position in HDFC Bank by 86.7% in the second quarter. Hexavest Inc. now owns 2,619 shares of the bank’s stock worth $341,000 after purchasing an additional 1,216 shares during the last quarter. 10.18% of the stock is currently owned by hedge funds and other institutional investors.
HDB stock traded down $0.46 during mid-day trading on Friday, reaching $61.81. 1,108,231 shares of the stock traded hands, compared to its average volume of 1,606,642. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.96 and a current ratio of 0.96. HDFC Bank Limited has a one year low of $44.33 and a one year high of $65.89. The stock has a market capitalization of $112.83 billion, a PE ratio of 37.23, a PEG ratio of 1.26 and a beta of 0.42. The business has a 50-day moving average price of $65.15 and a two-hundred day moving average price of $104.74.
Several equities research analysts recently weighed in on the stock. ValuEngine cut shares of HDFC Bank from a “hold” rating to a “sell” rating in a research report on Friday, November 1st. Nomura upgraded shares of HDFC Bank from a “neutral” rating to a “buy” rating in a research report on Tuesday, November 5th. Sanford C. Bernstein cut shares of HDFC Bank from an “outperform” rating to a “market perform” rating in a research report on Monday, September 9th. Finally, Zacks Investment Research upgraded shares of HDFC Bank from a “hold” rating to a “buy” rating and set a $66.00 price objective on the stock in a research report on Friday, October 25th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $97.32.
HDFC Bank Profile
HDFC Bank Limited provides a range of banking and financial services to individuals and businesses in India, Bahrain, Hong Kong, and Dubai. The company operates in Treasury, Retail Banking, Wholesale Banking, and Other Banking Business segments. It accepts savings accounts, salary accounts, current accounts, fixed and recurring deposits, demat accounts, safe deposit lockers, and rural accounts, as well as offshore accounts and deposits.
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