Mirae Asset Global Investments Co. Ltd. decreased its holdings in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 8.4% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 387,320 shares of the bank's stock after selling 35,541 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in HDFC Bank were worth $25,642,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Ridgewood Investments LLC purchased a new stake in HDFC Bank during the second quarter valued at $36,000. Northwest Investment Counselors LLC purchased a new stake in HDFC Bank during the third quarter valued at $38,000. LRI Investments LLC purchased a new stake in HDFC Bank during the first quarter valued at $56,000. GAMMA Investing LLC raised its stake in shares of HDFC Bank by 56.0% in the second quarter. GAMMA Investing LLC now owns 903 shares of the bank's stock valued at $58,000 after acquiring an additional 324 shares during the period. Finally, Boit C F David purchased a new stake in shares of HDFC Bank in the second quarter valued at $100,000. Hedge funds and other institutional investors own 17.61% of the company's stock.
Analyst Upgrades and Downgrades
HDB has been the topic of several recent analyst reports. StockNews.com downgraded shares of HDFC Bank from a "hold" rating to a "sell" rating in a research note on Saturday, October 12th. JPMorgan Chase & Co. downgraded shares of HDFC Bank from an "overweight" rating to a "neutral" rating in a research note on Monday, July 22nd.
View Our Latest Research Report on HDB
HDFC Bank Trading Down 0.9 %
Shares of HDB traded down $0.59 during midday trading on Friday, hitting $63.65. The stock had a trading volume of 1,047,775 shares, compared to its average volume of 3,159,023. HDFC Bank Limited has a 1 year low of $52.16 and a 1 year high of $67.44. The firm has a market cap of $118.38 billion, a PE ratio of 19.52, a price-to-earnings-growth ratio of 1.65 and a beta of 0.92. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.51 and a quick ratio of 0.51. The stock's 50 day moving average is $62.10 and its 200 day moving average is $60.42.
About HDFC Bank
(
Free Report)
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.
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