HDFC Bank Ltd. (HDB) Reaches New 1-Year High at $70.67
Shares of HDFC Bank Ltd. (NYSE:HDB) hit a new 52-week high during trading on Monday . The company traded as high as $70.67 and last traded at $70.63, with a volume of 169,453 shares changing hands. The stock had previously closed at $69.90.
Separately, Goldman Sachs Group Inc. upgraded HDFC Bank from a “neutral” rating to a “buy” rating in a report on Tuesday, August 2nd.
The company’s 50 day moving average price is $68.39 and its 200 day moving average price is $62.77. The stock has a market cap of $358.85 billion and a P/E ratio of 180.59.
A hedge fund recently raised its stake in HDFC Bank stock. Jennison Associates LLC increased its stake in HDFC Bank Ltd. (NYSE:HDB) by 6,604.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 220,574 shares of the company’s stock after buying an additional 217,284 shares during the period. Jennison Associates LLC’s holdings in HDFC Bank were worth $13,587,000 as of its most recent SEC filing.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.