FIL Ltd Increases Stake in HDFC Bank Limited (HDB)
FIL Ltd grew its holdings in HDFC Bank Limited (NYSE:HDB) by 0.5% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,963,473 shares of the bank’s stock after buying an additional 9,709 shares during the quarter. FIL Ltd owned approximately 0.23% of HDFC Bank Limited worth $170,763,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in HDB. First Interstate Bank acquired a new stake in shares of HDFC Bank Limited in the second quarter valued at $103,000. Parallel Advisors LLC increased its stake in shares of 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. Independent Portfolio Consultants Inc. increased its stake in shares of 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 stake in shares of 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. acquired a new stake in shares of HDFC Bank Limited in the second quarter valued at $156,000. Institutional investors own 17.71% of the company’s stock.
A number of analysts have recently weighed in on the company. BidaskClub lowered HDFC Bank Limited from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 24th. Zacks Investment Research upgraded HDFC Bank Limited from a “hold” rating to a “buy” rating and set a $98.00 target price for the company in a research note on Thursday, June 1st. Finally, Jefferies Group LLC upgraded HDFC Bank Limited from a “hold” rating to a “buy” rating in a research note on Tuesday, July 25th. Two equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $111.00.
HDFC Bank Limited (NYSE:HDB) traded down 0.21% during trading on Thursday, reaching $98.00. The company had a trading volume of 198,175 shares. The firm has a market capitalization of $502.26 billion, a PE ratio of 211.89 and a beta of 0.88. The firm’s 50 day moving average price is $96.84 and its 200 day moving average price is $86.54. HDFC Bank Limited has a 12-month low of $59.00 and a 12-month high of $100.26.
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HDFC Bank Limited 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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