HDFC Bank Ltd. (HDB) Hits New 12-Month High at $70.67
HDFC Bank Ltd. (NYSE:HDB) shares hit a new 52-week high on Monday . The stock traded as high as $70.67 and last traded at $70.63, with a volume of 169,453 shares. The stock had previously closed at $69.90.
Separately, Goldman Sachs Group Inc. upgraded shares of 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 $357.23 billion and a price-to-earnings ratio of 180.00. The company’s 50 day moving average is $68.04 and its 200-day moving average is $62.52.
An institutional investor recently raised its position in HDFC Bank stock. RS Investment Management Co. LLC raised its position in HDFC Bank Ltd. (NYSE:HDB) by 5.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 103,298 shares of the company’s stock after buying an additional 5,264 shares during the period. RS Investment Management Co. LLC’s holdings in HDFC Bank were worth $6,363,000 at the end of the most recent 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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