Rathbones Group PLC Buys 2,200,328 Shares of HDFC Bank Limited $HDB

Rathbones Group PLC raised its stake in shares of HDFC Bank Limited (NYSE:HDB) by 758.2% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,490,530 shares of the bank’s stock after purchasing an additional 2,200,328 shares during the quarter. Rathbones Group PLC’s holdings in HDFC Bank were worth $85,077,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Insigneo Advisory Services LLC raised its position in shares of HDFC Bank by 4.9% during the 2nd quarter. Insigneo Advisory Services LLC now owns 3,244 shares of the bank’s stock valued at $249,000 after buying an additional 152 shares in the last quarter. Huntington National Bank grew its position in HDFC Bank by 13.3% in the second quarter. Huntington National Bank now owns 1,349 shares of the bank’s stock worth $103,000 after acquiring an additional 158 shares in the last quarter. Level Four Advisory Services LLC grew its position in HDFC Bank by 3.0% in the second quarter. Level Four Advisory Services LLC now owns 7,681 shares of the bank’s stock worth $589,000 after acquiring an additional 223 shares in the last quarter. First Horizon Advisors Inc. increased its stake in HDFC Bank by 12.0% in the second quarter. First Horizon Advisors Inc. now owns 2,548 shares of the bank’s stock valued at $195,000 after acquiring an additional 273 shares during the last quarter. Finally, Snowden Capital Advisors LLC raised its position in HDFC Bank by 5.8% during the second quarter. Snowden Capital Advisors LLC now owns 5,707 shares of the bank’s stock valued at $438,000 after purchasing an additional 311 shares in the last quarter. Hedge funds and other institutional investors own 17.61% of the company’s stock.

HDFC Bank Stock Down 2.9%

HDFC Bank stock opened at $29.50 on Friday. The firm has a fifty day simple moving average of $33.04 and a two-hundred day simple moving average of $34.83. HDFC Bank Limited has a twelve month low of $29.23 and a twelve month high of $39.81. The company has a market capitalization of $150.49 billion, a PE ratio of 17.72, a P/E/G ratio of 1.23 and a beta of 0.56.

Analysts Set New Price Targets

A number of research firms have recently issued reports on HDB. Wall Street Zen upgraded HDFC Bank from a “sell” rating to a “hold” rating in a report on Friday, January 23rd. Weiss Ratings cut HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Reduce”.

HDFC Bank 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).