HDFC Bank Ltd. (HDB) Shares Gap Up to $65.55
HDFC Bank Ltd. (NYSE:HDB)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $65.48, but opened at $65.55. HDFC Bank shares last traded at $65.93, with a volume of 382,813 shares.
Separately, Zacks Investment Research upgraded shares of HDFC Bank from a “sell” rating to a “hold” rating in a report on Monday, March 28th.
The company has a market cap of $334.58 billion and a PE ratio of 177.88. The stock’s 50-day moving average is $65.07 and its 200-day moving average is $60.69.
The firm also recently declared a dividend, which was paid on Wednesday, June 29th. Stockholders of record on Wednesday, June 29th were issued a dividend of $0.403 per share. The ex-dividend date was Monday, June 27th.
Several institutional investors have added to or reduced their stakes in HDB. Great West Life Assurance Co. Can acquired a new position in HDFC Bank during the fourth quarter worth $1,791,000. Comerica Bank boosted its position in HDFC Bank by 14.4% in the fourth quarter. Comerica Bank now owns 83,740 shares of the company’s stock worth $4,898,000 after buying an additional 10,556 shares in the last quarter. Todd Asset Management LLC boosted its position in HDFC Bank by 0.5% in the fourth quarter. Todd Asset Management LLC now owns 232,517 shares of the company’s stock worth $14,323,000 after buying an additional 1,260 shares in the last quarter. GAM Holding AG boosted its position in HDFC Bank by 157.1% in the fourth quarter. GAM Holding AG now owns 57,600 shares of the company’s stock worth $3,548,000 after buying an additional 35,200 shares in the last quarter. Finally, Morgan Stanley boosted its position in HDFC Bank by 6.7% in the fourth quarter. Morgan Stanley now owns 1,633,279 shares of the company’s stock worth $100,611,000 after buying an additional 102,555 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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