HDFC Bank Sees Unusually High Options Volume (HDB)

HDFC Bank Limited (NYSE:HDB) saw unusually large options trading on Friday. Stock investors bought 608 put options on the company. This represents an increase of approximately 821% compared to the average volume of 66 put options.

Separately, Zacks Investment Research upgraded HDFC Bank from a “hold” rating to a “buy” rating and set a $111.00 price target on the stock in a research report on Thursday, September 14th. One research analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $110.00.

A number of institutional investors have recently added to or reduced their stakes in HDB. First Interstate Bank bought a new position in HDFC Bank in the second quarter valued at about $103,000. Parallel Advisors LLC boosted its stake in shares of HDFC Bank by 14.8% during the second quarter. Parallel Advisors LLC now owns 1,469 shares of the bank’s stock valued at $142,000 after purchasing an additional 189 shares in the last quarter. Dimensional Fund Advisors LP acquired a new stake in shares of HDFC Bank during the second quarter valued at about $217,000. Park Avenue Securities LLC acquired a new stake in shares of HDFC Bank during the third quarter valued at about $224,000. Finally, Pacad Investment Ltd. acquired a new stake in shares of HDFC Bank during the second quarter valued at about $226,000. Hedge funds and other institutional investors own 17.29% of the company’s stock.

HDFC Bank (NYSE:HDB) opened at $100.83 on Monday. HDFC Bank has a 12-month low of $59.00 and a 12-month high of $101.26. The company has a debt-to-equity ratio of 0.71, a current ratio of 0.91 and a quick ratio of 0.91. The stock has a market capitalization of $75,880.00, a PE ratio of 82.65, a price-to-earnings-growth ratio of 1.13 and a beta of 0.85.

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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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