HDFC Bank Ltd. (HDB) Sees Unusually-High Trading Volume
HDFC Bank Ltd. (NYSE:HDB) saw unusually-strong trading volume on Tuesday . Approximately 591,369 shares changed hands during trading, an increase of 4% from the previous session’s volume of 567,750 shares.The stock last traded at $71.81 and had previously closed at $70.94.
Separately, Goldman Sachs Group Inc. upgraded shares of HDFC Bank from a “neutral” rating to a “buy” rating in a report on Tuesday, August 2nd.
The firm’s 50-day moving average is $69.68 and its 200-day moving average is $63.76. The firm has a market capitalization of $362.69 billion and a PE ratio of 190.77.
A number of hedge funds have recently bought and sold shares of the stock. Jennison Associates LLC raised its stake 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. Ameriprise Financial Inc. raised its stake in HDFC Bank by 9.9% in the fourth quarter. Ameriprise Financial Inc. now owns 1,221,316 shares of the company’s stock worth $75,219,000 after buying an additional 109,736 shares in the last quarter. Finally, RS Investment Management Co. LLC raised its stake 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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