BNP Paribas Buys 170,624 Shares of HDFC Bank Limited $HDB

BNP Paribas grew its stake in HDFC Bank Limited (NYSE:HDB) by 109.3% in the third quarter, Holdings Channel.com reports. The institutional investor owned 326,704 shares of the bank’s stock after buying an additional 170,624 shares during the quarter. BNP Paribas’ holdings in HDFC Bank were worth $11,160,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Central Pacific Bank Trust Division raised its position in shares of HDFC Bank by 100.0% during the 3rd quarter. Central Pacific Bank Trust Division now owns 758 shares of the bank’s stock valued at $26,000 after buying an additional 379 shares in the last quarter. Parkside Financial Bank & Trust grew its position in HDFC Bank by 54.5% in the third quarter. Parkside Financial Bank & Trust now owns 913 shares of the bank’s stock worth $31,000 after acquiring an additional 322 shares in the last quarter. Accent Capital Management LLC increased its stake in HDFC Bank by 100.0% in the third quarter. Accent Capital Management LLC now owns 918 shares of the bank’s stock valued at $31,000 after acquiring an additional 459 shares during the last quarter. Clearstead Advisors LLC increased its stake in HDFC Bank by 476.8% in the third quarter. Clearstead Advisors LLC now owns 894 shares of the bank’s stock valued at $31,000 after acquiring an additional 739 shares during the last quarter. Finally, J.Safra Asset Management Corp raised its position in HDFC Bank by 100.0% during the third quarter. J.Safra Asset Management Corp now owns 1,020 shares of the bank’s stock valued at $35,000 after purchasing an additional 510 shares in the last quarter. Institutional investors own 17.61% of the company’s stock.

Analyst Upgrades and Downgrades

HDB has been the subject of several research analyst reports. Weiss Ratings lowered HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, March 6th. Wall Street Zen upgraded HDFC Bank from a “sell” rating to a “hold” rating in a research report on Friday, January 23rd. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Reduce”.

HDFC Bank Stock Performance

HDB stock opened at $28.25 on Friday. The firm has a market cap of $144.11 billion, a P/E ratio of 16.97, a P/E/G ratio of 1.17 and a beta of 0.56. The firm’s fifty day moving average is $32.28 and its 200 day moving average is $34.55. HDFC Bank Limited has a 52 week low of $28.05 and a 52 week high of $39.81.

HDFC Bank Company Profile

HDFC Bank Limited is one of India’s leading private sector banks, headquartered in Mumbai. Incorporated in 1994 and promoted by Housing Development Finance Corporation (HDFC), the bank provides a full range of banking and financial services to retail, small and medium-sized enterprises, and corporate customers. It is publicly listed and also accessible to international investors through American Depositary Receipts (ADRs) trading on the New York Stock Exchange under the symbol HDB.

The bank’s core activities include retail banking (deposit accounts, personal loans, home loans, auto loans, and credit cards), commercial and corporate banking (working capital finance, term lending, trade finance and treasury services), and transaction banking (cash management and payment solutions).