HDFC Bank (HDB) Hits New 1-Year High at $100.54

HDFC Bank Limited (NYSE:HDB) shares reached a new 52-week high on Friday . The company traded as high as $100.54 and last traded at $100.14, with a volume of 608400 shares changing hands. The stock had previously closed at $100.11.

Separately, Zacks Investment Research downgraded HDFC Bank from a “buy” rating to a “hold” rating in a research report on Wednesday, September 20th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. HDFC Bank has an average rating of “Buy” and a consensus target price of $110.00.

The stock has a market capitalization of $85,512.16, a PE ratio of 37.63, a PEG ratio of 1.14 and a beta of 0.85. The company has a debt-to-equity ratio of 0.71, a quick ratio of 0.91 and a current ratio of 0.91.

Several institutional investors and hedge funds have recently modified their holdings of the company. Harding Loevner LP lifted its position in HDFC Bank by 2,141.9% in the 3rd quarter. Harding Loevner LP now owns 78,647,160 shares of the bank’s stock worth $248,755,000 after buying an additional 75,139,157 shares during the last quarter. BlackRock Inc. lifted its position in HDFC Bank by 105.1% in the 2nd quarter. BlackRock Inc. now owns 2,103,171 shares of the bank’s stock worth $182,912,000 after buying an additional 1,077,828 shares during the last quarter. Aberdeen Asset Management PLC UK lifted its position in HDFC Bank by 170.0% in the 2nd quarter. Aberdeen Asset Management PLC UK now owns 1,357,680 shares of the bank’s stock worth $118,078,000 after buying an additional 854,828 shares during the last quarter. FMR LLC lifted its position in HDFC Bank by 4.1% in the 2nd quarter. FMR LLC now owns 14,824,081 shares of the bank’s stock worth $1,289,251,000 after buying an additional 589,126 shares during the last quarter. Finally, Baillie Gifford & Co. lifted its position in HDFC Bank by 64.6% in the 3rd quarter. Baillie Gifford & Co. now owns 1,461,230 shares of the bank’s stock worth $140,818,000 after buying an additional 573,395 shares during the last quarter. Hedge funds and other institutional investors own 17.29% of the company’s stock.

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About HDFC Bank

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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