HDFC Bank Limited (NYSE:HDB) Shares Purchased by Marks Group Wealth Management Inc

Marks Group Wealth Management Inc grew its holdings in HDFC Bank Limited (NYSE:HDB - Free Report) by 62.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 21,597 shares of the bank's stock after purchasing an additional 8,335 shares during the quarter. Marks Group Wealth Management Inc's holdings in HDFC Bank were worth $1,351,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Baillie Gifford & Co. increased its holdings in HDFC Bank by 2.3% during the 2nd quarter. Baillie Gifford & Co. now owns 11,533,215 shares of the bank's stock worth $741,932,000 after purchasing an additional 263,690 shares during the period. Sustainable Growth Advisers LP grew its position in shares of HDFC Bank by 24.1% during the first quarter. Sustainable Growth Advisers LP now owns 8,824,089 shares of the bank's stock worth $493,884,000 after buying an additional 1,711,784 shares in the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of HDFC Bank by 11.3% during the second quarter. Massachusetts Financial Services Co. MA now owns 4,791,134 shares of the bank's stock worth $308,214,000 after buying an additional 486,653 shares during the period. PineStone Asset Management Inc. raised its holdings in HDFC Bank by 115.1% in the second quarter. PineStone Asset Management Inc. now owns 4,468,960 shares of the bank's stock valued at $287,488,000 after acquiring an additional 2,391,343 shares in the last quarter. Finally, Capital World Investors lifted its stake in HDFC Bank by 208.6% in the first quarter. Capital World Investors now owns 4,124,751 shares of the bank's stock worth $230,862,000 after acquiring an additional 2,788,197 shares during the last quarter. Institutional investors and hedge funds own 17.61% of the company's stock.

Wall Street Analyst Weigh In

HDB has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. downgraded shares of HDFC Bank from an "overweight" rating to a "neutral" rating in a research report on Monday, July 22nd. StockNews.com lowered HDFC Bank from a "hold" rating to a "sell" rating in a report on Saturday, October 12th.

HDFC Bank Stock Performance

HDB traded down $0.71 during trading on Thursday, hitting $63.75. 1,282,364 shares of the stock were exchanged, compared to its average volume of 3,002,386. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 1.34. HDFC Bank Limited has a 1-year low of $52.16 and a 1-year high of $67.44. The stock has a fifty day moving average price of $62.61 and a two-hundred day moving average price of $60.76. The firm has a market capitalization of $161.43 billion, a P/E ratio of 19.40, a PEG ratio of 1.64 and a beta of 0.91.

HDFC Bank Profile

HDFC Bank Limited provides banking and financial services to individuals and businesses in India, Bahrain, Hong Kong, and Dubai. The company operates in three segments: Wholesale Banking, Retail Banking, and Treasury Services. It accepts savings, salary, current, rural, public provident fund, pension, and demat accounts; fixed and recurring deposits; and safe deposit lockers, as well as offshore accounts and deposits, and overdrafts against fixed deposits.