Wasatch Advisors Inc. Reduces Position in HDFC Bank Limited (HDB)
Wasatch Advisors Inc. lessened its holdings in shares of HDFC Bank Limited (NYSE:HDB) by 28.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 116,466 shares of the bank’s stock after selling 46,257 shares during the period. Wasatch Advisors Inc.’s holdings in HDFC Bank Limited were worth $10,129,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in HDB. First Interstate Bank acquired a new position in HDFC Bank Limited in the 2nd quarter valued at about $103,000. Parallel Advisors LLC boosted its holdings in HDFC Bank Limited by 14.8% in the 2nd quarter. Parallel Advisors LLC now owns 1,469 shares of the bank’s stock valued at $142,000 after purchasing an additional 189 shares during the last quarter. Independent Portfolio Consultants Inc. boosted its holdings in HDFC Bank Limited by 744.5% in the 2nd quarter. Independent Portfolio Consultants Inc. now owns 1,689 shares of the bank’s stock valued at $147,000 after purchasing an additional 1,489 shares during the last quarter. Huntington National Bank boosted its holdings in HDFC Bank Limited by 4.9% in the 2nd quarter. Huntington National Bank now owns 1,730 shares of the bank’s stock valued at $150,000 after purchasing an additional 81 shares during the last quarter. Finally, Shine Investment Advisory Services Inc. acquired a new position in HDFC Bank Limited in the 2nd quarter valued at about $156,000. 17.62% of the stock is owned by institutional investors.
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Several equities analysts have weighed in on HDB shares. Jefferies Group LLC upgraded shares of HDFC Bank Limited from a “hold” rating to a “buy” rating in a report on Tuesday, July 25th. Zacks Investment Research upgraded shares of HDFC Bank Limited from a “hold” rating to a “buy” rating and set a $103.00 target price on the stock in a report on Friday, July 21st. Finally, BidaskClub lowered shares of HDFC Bank Limited from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 24th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. HDFC Bank Limited has an average rating of “Buy” and a consensus price target of $110.00.
HDFC Bank Limited (NYSE:HDB) traded down 1.63% during trading on Monday, reaching $97.05. 264,217 shares of the company’s stock traded hands. HDFC Bank Limited has a 1-year low of $59.00 and a 1-year high of $100.26. The firm has a market capitalization of $497.39 billion, a PE ratio of 210.06 and a beta of 0.85. The firm has a 50 day moving average of $96.24 and a 200 day moving average of $89.46.
About HDFC Bank Limited
HDFC Bank Limited (the Bank) is a holding company. The Bank offers a range of banking services covering commercial and investment banking on the wholesale side and transactional/branch banking on the retail side. It also offers financial services. The Bank’s segments include Treasury, Retail banking, Wholesale banking and Other banking business.
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