HDFC Bank Ltd. (HDB) Hits New 12-Month High at $72.75
HDFC Bank Ltd. (NYSE:HDB) hit a new 52-week high during trading on Thursday . The company traded as high as $72.75 and last traded at $72.50, with a volume of 393,208 shares changing hands. The stock had previously closed at $71.65.
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 company’s 50 day moving average price is $69.79 and its 200 day moving average price is $63.82. The firm has a market capitalization of $366.84 billion and a price-to-earnings ratio of 192.95.
A hedge fund recently raised its stake in HDFC Bank stock. Ameriprise Financial Inc. raised its position in shares of HDFC Bank Ltd. (NYSE:HDB) by 9.9% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,221,316 shares of the company’s stock after buying an additional 109,736 shares during the period. Ameriprise Financial Inc.’s holdings in HDFC Bank were worth $75,219,000 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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