Zurcher Kantonalbank Zurich Cantonalbank decreased its stake in HDFC Bank Limited (NYSE:HDB) by 3.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 94,780 shares of the bank’s stock after selling 3,513 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in HDFC Bank were worth $4,309,000 at the end of the most recent quarter.
Several other large investors also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. raised its holdings in HDFC Bank by 9.8% during the first quarter. JPMorgan Chase & Co. now owns 34,973,617 shares of the bank’s stock worth $1,345,084,000 after acquiring an additional 3,113,626 shares in the last quarter. WCM Investment Management LLC boosted its position in shares of HDFC Bank by 5.4% during the 1st quarter. WCM Investment Management LLC now owns 22,871,281 shares of the bank’s stock worth $879,630,000 after purchasing an additional 1,171,100 shares in the last quarter. Capital Research Global Investors increased its position in HDFC Bank by 2.6% in the 1st quarter. Capital Research Global Investors now owns 14,275,402 shares of the bank’s stock valued at $549,044,000 after buying an additional 367,038 shares in the last quarter. Fiera Capital Corp raised its stake in HDFC Bank by 3.4% during the 1st quarter. Fiera Capital Corp now owns 10,040,538 shares of the bank’s stock worth $386,160,000 after buying an additional 328,226 shares during the period. Finally, Morgan Stanley raised its position in shares of HDFC Bank by 5.1% during the first quarter. Morgan Stanley now owns 7,793,407 shares of the bank’s stock worth $299,733,000 after purchasing an additional 378,531 shares during the period. 18.10% of the stock is currently owned by institutional investors and hedge funds.
HDB has been the subject of a number of analyst reports. Zacks Investment Research cut shares of HDFC Bank from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 23rd. TheStreet raised HDFC Bank from a “c+” rating to a “b” rating in a report on Tuesday, July 21st. Finally, Sanford C. Bernstein lowered HDFC Bank from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 14th. Three research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $54.00.
NYSE:HDB opened at $46.75 on Friday. The stock has a market capitalization of $84.88 billion, a PE ratio of 22.69, a price-to-earnings-growth ratio of 1.40 and a beta of 0.82. The firm’s 50 day moving average is $46.66 and its 200 day moving average is $47.09. HDFC Bank Limited has a 12 month low of $29.50 and a 12 month high of $65.38.
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.
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