Munich Reinsurance Co Stock Corp in Munich Makes New Investment in HDFC Bank Limited $HDB

Munich Reinsurance Co Stock Corp in Munich acquired a new stake in HDFC Bank Limited (NYSE:HDB) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 222,218 shares of the bank’s stock, valued at approximately $7,591,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. NewEdge Advisors LLC lifted its stake in HDFC Bank by 8.6% during the 1st quarter. NewEdge Advisors LLC now owns 11,676 shares of the bank’s stock valued at $776,000 after acquiring an additional 922 shares during the period. Goldman Sachs Group Inc. lifted its stake in shares of HDFC Bank by 1.5% in the 1st quarter. Goldman Sachs Group Inc. now owns 883,855 shares of the bank’s stock valued at $58,723,000 after purchasing an additional 13,435 shares during the period. Sivia Capital Partners LLC boosted its stake in shares of HDFC Bank by 24.5% during the 2nd quarter. Sivia Capital Partners LLC now owns 7,840 shares of the bank’s stock worth $601,000 after acquiring an additional 1,541 shares in the last quarter. Assetmark Inc. increased its stake in shares of HDFC Bank by 358.4% in the 2nd quarter. Assetmark Inc. now owns 706 shares of the bank’s stock valued at $54,000 after purchasing an additional 552 shares in the last quarter. Finally, Bank of Montreal Can raised its holdings in HDFC Bank by 3.5% in the 2nd quarter. Bank of Montreal Can now owns 84,920 shares of the bank’s stock worth $6,511,000 after purchasing an additional 2,865 shares during the period. Institutional investors and hedge funds own 17.61% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on HDB shares. Weiss Ratings downgraded HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday. Wall Street Zen upgraded shares of HDFC Bank from a “sell” rating to a “hold” rating in a research report on Friday, January 23rd. One analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce”.

HDFC Bank Trading Down 2.9%

HDB opened at $29.50 on Friday. HDFC Bank Limited has a twelve month low of $29.23 and a twelve month high of $39.81. The firm has a market capitalization of $150.49 billion, a PE ratio of 17.72, a PEG ratio of 1.23 and a beta of 0.56. The firm’s 50-day moving average price is $33.04 and its 200 day moving average price is $34.83.

HDFC Bank Company Profile

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).