HDFC Bank Ltd. (HDB) Hits New 1-Year High at $71.84
HDFC Bank Ltd. (NYSE:HDB)’s share price reached a new 52-week high on Friday . The stock traded as high as $71.84 and last traded at $71.05, with a volume of 481,798 shares trading hands. The stock had previously closed at $71.54.
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 $69.48 and its 200-day moving average is $63.43. The firm has a market capitalization of $359.26 billion and a PE ratio of 188.96.
Other institutional investors have recently made changes to their positions in the company. RS Investment Management Co. LLC increased its position in shares of HDFC Bank by 5.4% in the fourth quarter. RS Investment Management Co. LLC now owns 103,298 shares of the company’s stock valued at $6,363,000 after buying an additional 5,264 shares during the period. Jennison Associates LLC increased its position in shares of HDFC Bank by 6,604.4% in the fourth quarter. Jennison Associates LLC now owns 220,574 shares of the company’s stock valued at $13,587,000 after buying an additional 217,284 shares during the period. Finally, Ameriprise Financial Inc. increased its position in shares of HDFC Bank by 9.9% in the fourth quarter. Ameriprise Financial Inc. now owns 1,221,316 shares of the company’s stock valued at $75,219,000 after buying an additional 109,736 shares during the period.
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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