Zevin Asset Management LLC Purchases 44,798 Shares of HDFC Bank Limited (NYSE:HDB)

Zevin Asset Management LLC increased its position in HDFC Bank Limited (NYSE:HDB) by 108.9% during the third quarter, Holdings Channel.com reports. The firm owned 85,918 shares of the bank’s stock after buying an additional 44,798 shares during the quarter. HDFC Bank accounts for approximately 1.6% of Zevin Asset Management LLC’s holdings, making the stock its 23rd biggest position. Zevin Asset Management LLC’s holdings in HDFC Bank were worth $4,902,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of HDB. Capital Insight Partners LLC lifted its stake in HDFC Bank by 1.4% during the 2nd quarter. Capital Insight Partners LLC now owns 8,648 shares of the bank’s stock valued at $1,125,000 after acquiring an additional 116 shares in the last quarter. Crossmark Global Holdings Inc. increased its position in shares of HDFC Bank by 0.9% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 26,032 shares of the bank’s stock valued at $3,385,000 after purchasing an additional 220 shares during the last quarter. EFG Asset Management Americas Corp. increased its position in shares of HDFC Bank by 21.6% during the 2nd quarter. EFG Asset Management Americas Corp. now owns 3,744 shares of the bank’s stock valued at $487,000 after purchasing an additional 665 shares during the last quarter. Schwab Charitable Fund purchased a new stake in shares of HDFC Bank during the 2nd quarter valued at $451,000. Finally, Hexavest Inc. increased its position in shares of HDFC Bank by 86.7% during the 2nd quarter. Hexavest Inc. now owns 2,619 shares of the bank’s stock valued at $341,000 after purchasing an additional 1,216 shares during the last quarter. Institutional investors own 10.18% of the company’s stock.

Several brokerages have recently issued reports on HDB. Nomura raised HDFC Bank from a “neutral” rating to a “buy” rating in a research report on Tuesday, November 5th. Zacks Investment Research raised HDFC Bank from a “hold” rating to a “buy” rating and set a $66.00 target price for the company in a research report on Friday, October 25th. Sanford C. Bernstein lowered HDFC Bank from an “outperform” rating to a “market perform” rating in a research report on Monday, September 9th. Finally, ValuEngine lowered HDFC Bank from a “hold” rating to a “sell” rating in a research report on Friday, November 1st. 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. HDFC Bank currently has an average rating of “Hold” and a consensus target price of $97.32.

Shares of HDFC Bank stock traded down $0.46 during trading hours on Friday, hitting $61.81. 1,108,231 shares of the company’s stock traded hands, compared to its average volume of 1,606,642. HDFC Bank Limited has a 12-month low of $44.33 and a 12-month high of $65.89. The stock has a market capitalization of $112.83 billion, a price-to-earnings ratio of 37.23, a PEG ratio of 1.26 and a beta of 0.42. The company has a fifty day simple moving average of $65.15 and a 200-day simple moving average of $104.74. The company has a debt-to-equity ratio of 0.64, a current ratio of 0.96 and a quick ratio of 0.96.

About HDFC Bank

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.

Further Reading: Net Income

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Institutional Ownership by Quarter for HDFC Bank (NYSE:HDB)

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