HDFC Bank Ltd. (HDB) Sees Large Volume Increase
HDFC Bank Ltd. (NYSE:HDB) shares saw unusually-high trading volume on Monday . Approximately 576,074 shares traded hands during trading, an increase of 15% from the previous session’s volume of 502,025 shares.The stock last traded at $69.58 and had previously closed at $69.65.
Separately, Goldman Sachs Group Inc. raised HDFC Bank from a “neutral” rating to a “buy” rating in a research report on Tuesday, August 2nd.
The firm has a market cap of $351.92 billion and a PE ratio of 184.86. The firm has a 50-day moving average price of $67.67 and a 200 day moving average price of $62.21.
A number of hedge funds and institutional investors have added to or reduced their stakes in HDB. Egerton Capital UK LLP raised its position in HDFC Bank by 12.8% in the fourth quarter. Egerton Capital UK LLP now owns 1,082,728 shares of the company’s stock worth $66,696,000 after buying an additional 122,601 shares in the last quarter. Jennison Associates LLC raised its position in HDFC Bank by 6,604.4% in the fourth quarter. Jennison Associates LLC now owns 220,574 shares of the company’s stock worth $13,587,000 after buying an additional 217,284 shares in the last quarter. Finally, RS Investment Management Co. LLC raised its position in HDFC Bank by 5.4% in the fourth quarter. RS Investment Management Co. LLC now owns 103,298 shares of the company’s stock worth $6,363,000 after buying an additional 5,264 shares in the last quarter.
HDFC Bank Limited (HDFC Bank) is a banking company. The Bank is engaged in providing a range of banking and financial services including commercial banking and treasury operations. It operates in four segments: Treasury, Retail Banking, Wholesale banking and other banking business. The treasury segment primarily consists of net interest earnings from the Bank’s investment portfolio, money market borrowing and lending, gains or losses on investment operations.
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