HDFC Bank Limited (HDB) Stake Raised by Northern Trust Corp
Northern Trust Corp lifted its position in HDFC Bank Limited (NYSE:HDB) by 5.9% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 768,328 shares of the bank’s stock after purchasing an additional 42,946 shares during the quarter. Northern Trust Corp owned 0.09% of HDFC Bank Limited worth $66,821,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of HDB. First Interstate Bank acquired a new stake in shares of HDFC Bank Limited during the 2nd quarter worth about $103,000. Parallel Advisors LLC lifted its holdings in HDFC Bank Limited by 17.1% during the 1st quarter. Parallel Advisors LLC now owns 1,280 shares of the bank’s stock valued at $104,000 after purchasing an additional 187 shares during the last quarter. Independent Portfolio Consultants Inc. lifted its holdings in HDFC Bank Limited by 744.5% during the 2nd quarter. Independent Portfolio Consultants Inc. now owns 1,689 shares of the bank’s stock valued at $147,000 after purchasing an additional 1,489 shares during the last quarter. Huntington National Bank lifted its holdings in HDFC Bank Limited by 4.9% during the 2nd quarter. Huntington National Bank now owns 1,730 shares of the bank’s stock valued at $150,000 after purchasing an additional 81 shares during the last quarter. Finally, Shine Investment Advisory Services Inc. bought a new position in HDFC Bank Limited during the 2nd quarter valued at about $156,000. 17.72% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have commented on HDB. Zacks Investment Research upgraded shares of HDFC Bank Limited from a “hold” rating to a “buy” rating and set a $108.00 price target on the stock in a research report on Friday, August 25th. Morgan Stanley raised shares of HDFC Bank Limited from an “equal weight” rating to an “overweight” rating in a report on Tuesday, July 25th. Finally, BidaskClub lowered shares of HDFC Bank Limited from a “strong-buy” rating to a “buy” rating in a report on Saturday, June 24th. One research analyst has rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $110.00.
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Shares of HDFC Bank Limited (NYSE HDB) opened at 94.43 on Wednesday. HDFC Bank Limited has a 12-month low of $59.00 and a 12-month high of $100.26. The company’s 50-day moving average price is $96.50 and its 200-day moving average price is $88.25. The firm has a market capitalization of $483.96 billion, a PE ratio of 204.39 and a beta of 0.84.
HDFC Bank Limited Profile
HDFC Bank Limited (the Bank) is a holding company. The Bank offers a range of banking services covering commercial and investment banking on the wholesale side and transactional/branch banking on the retail side. It also offers financial services. The Bank’s segments include Treasury, Retail banking, Wholesale banking and Other banking business.
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