Canoe Financial LP grew its holdings in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 3.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 288,398 shares of the bank's stock after buying an additional 9,000 shares during the quarter. Canoe Financial LP's holdings in HDFC Bank were worth $18,558,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Ridgewood Investments LLC bought a new position in shares of HDFC Bank in the second quarter worth about $36,000. Northwest Investment Counselors LLC bought a new position in HDFC Bank in the 3rd quarter worth about $38,000. LRI Investments LLC purchased a new position in shares of HDFC Bank during the first quarter worth approximately $56,000. GAMMA Investing LLC raised its stake in shares of HDFC Bank by 56.0% during 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 in the last quarter. Finally, Boit C F David purchased a new stake in shares of HDFC Bank in the second quarter valued at approximately $100,000. 17.61% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts have weighed in on HDB shares. StockNews.com lowered HDFC Bank from a "hold" rating to a "sell" rating in a research report on Saturday, October 12th. JPMorgan Chase & Co. downgraded HDFC Bank from an "overweight" rating to a "neutral" rating in a report on Monday, July 22nd.
View Our Latest Stock Analysis on HDB
HDFC Bank Stock Up 1.3 %
Shares of HDB traded up $0.85 during mid-day trading on Monday, hitting $64.50. The company's stock had a trading volume of 1,960,579 shares, compared to its average volume of 3,058,983. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 1.37. The firm has a market capitalization of $119.96 billion, a price-to-earnings ratio of 19.62, a PEG ratio of 1.65 and a beta of 0.92. The company's 50-day moving average is $62.10 and its 200-day moving average is $60.42. HDFC Bank Limited has a 52-week low of $52.16 and a 52-week high of $67.44.
HDFC Bank Profile
(
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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