HDFC Bank Limited (HDB) Stake Held by Pinebridge Investments L.P.
Pinebridge Investments L.P. held its stake in shares of HDFC Bank Limited (NYSE:HDB) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,700 shares of the bank’s stock at the close of the 2nd quarter. Pinebridge Investments L.P.’s holdings in HDFC Bank Limited were worth $1,105,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of the business. Financial Counselors Inc. raised its position in HDFC Bank Limited by 0.7% in the first quarter. Financial Counselors Inc. now owns 5,745 shares of the bank’s stock worth $432,000 after acquiring an additional 39 shares in the last quarter. Level Four Advisory Services LLC raised its position in HDFC Bank Limited by 0.5% in the first quarter. Level Four Advisory Services LLC now owns 10,723 shares of the bank’s stock worth $810,000 after acquiring an additional 53 shares in the last quarter. Huntington National Bank raised 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 worth $150,000 after acquiring an additional 81 shares in the last quarter. DnB Asset Management AS raised its position in HDFC Bank Limited by 0.7% in the second quarter. DnB Asset Management AS now owns 14,500 shares of the bank’s stock worth $1,261,000 after acquiring an additional 100 shares in the last quarter. Finally, Trillium Asset Management LLC raised its position in HDFC Bank Limited by 0.3% in the second quarter. Trillium Asset Management LLC now owns 36,636 shares of the bank’s stock worth $3,186,000 after acquiring an additional 115 shares in the last quarter. Hedge funds and other institutional investors own 17.71% of the company’s stock.
Several brokerages have commented on HDB. Jefferies Group LLC upgraded shares of HDFC Bank Limited from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. BidaskClub upgraded shares of HDFC Bank Limited from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 24th. Finally, Zacks Investment Research upgraded shares of HDFC Bank Limited from a “sell” rating to a “hold” rating in a research report on Wednesday, July 12th. One analyst has rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $110.00.
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Shares of HDFC Bank Limited (NYSE:HDB) opened at 93.50 on Thursday. The firm has a market cap of $479.20 billion, a P/E ratio of 202.38 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.
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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