Chesapeake Capital Corp IL Buys New Position in HDFC Bank Limited $HDB

Chesapeake Capital Corp IL bought a new stake in HDFC Bank Limited (NYSE:HDB) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 19,782 shares of the bank’s stock, valued at approximately $676,000.

Several other hedge funds also recently modified their holdings of HDB. Central Pacific Bank Trust Division boosted its position in HDFC Bank by 100.0% during the third quarter. Central Pacific Bank Trust Division now owns 758 shares of the bank’s stock worth $26,000 after acquiring an additional 379 shares during the last quarter. Parkside Financial Bank & Trust lifted its stake in shares of HDFC Bank by 54.5% during the 3rd quarter. Parkside Financial Bank & Trust now owns 913 shares of the bank’s stock worth $31,000 after purchasing an additional 322 shares during the period. Clearstead Advisors LLC boosted its holdings in shares of HDFC Bank by 476.8% during the third quarter. Clearstead Advisors LLC now owns 894 shares of the bank’s stock worth $31,000 after purchasing an additional 739 shares during the last quarter. Accent Capital Management LLC boosted its holdings in shares of HDFC Bank by 100.0% during the third quarter. Accent Capital Management LLC now owns 918 shares of the bank’s stock worth $31,000 after purchasing an additional 459 shares during the last quarter. Finally, J.Safra Asset Management Corp grew its position in shares of HDFC Bank by 100.0% in the third quarter. J.Safra Asset Management Corp now owns 1,020 shares of the bank’s stock valued at $35,000 after purchasing an additional 510 shares during the period. 17.61% of the stock is owned by institutional investors and hedge funds.

HDFC Bank Stock Down 0.5%

HDB stock opened at $28.25 on Friday. The company has a market cap of $144.11 billion, a price-to-earnings ratio of 16.97, a PEG ratio of 1.18 and a beta of 0.56. The business has a fifty day simple moving average of $32.28 and a 200-day simple moving average of $34.56. HDFC Bank Limited has a 52 week low of $28.05 and a 52 week high of $39.81.

Wall Street Analyst Weigh In

Several research firms recently weighed in on HDB. Weiss Ratings downgraded HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, March 6th. Wall Street Zen upgraded HDFC Bank from a “sell” rating to a “hold” rating in a report on Friday, January 23rd. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Reduce”.

About HDFC Bank

HDFC Bank Limited is one of India’s leading private sector banks, headquartered in Mumbai. Incorporated in 1994 and promoted by Housing Development Finance Corporation (HDFC), the bank provides a full range of banking and financial services to retail, small and medium-sized enterprises, and corporate customers. It is publicly listed and also accessible to international investors through American Depositary Receipts (ADRs) trading on the New York Stock Exchange under the symbol HDB.

The bank’s core activities include retail banking (deposit accounts, personal loans, home loans, auto loans, and credit cards), commercial and corporate banking (working capital finance, term lending, trade finance and treasury services), and transaction banking (cash management and payment solutions).