Migdal Insurance & Financial Holdings Ltd. cut its position in shares of HDFC Bank Limited (NYSE:HDB) by 12.6% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 12,434 shares of the bank’s stock after selling 1,800 shares during the quarter. Migdal Insurance & Financial Holdings Ltd.’s holdings in HDFC Bank Limited were worth $1,198,000 as of its most recent filing with the SEC.
Other hedge funds have also recently modified their holdings of the company. First Interstate Bank acquired a new position in shares of HDFC Bank Limited during the 2nd quarter valued at $103,000. Parallel Advisors LLC increased its position in shares of HDFC Bank Limited by 14.8% during the 2nd quarter. Parallel Advisors LLC now owns 1,469 shares of the bank’s stock valued at $142,000 after purchasing an additional 189 shares during the period. Huntington National Bank increased its position in shares of 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 period. Shine Investment Advisory Services Inc. acquired a new position in shares of HDFC Bank Limited during the 2nd quarter valued at $156,000. Finally, Creative Planning increased its position in shares of HDFC Bank Limited by 7.1% during the 2nd quarter. Creative Planning now owns 1,821 shares of the bank’s stock valued at $158,000 after purchasing an additional 121 shares during the period. Institutional investors own 17.81% of the company’s stock.
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Shares of HDFC Bank Limited (HDB) traded down $0.65 during midday trading on Friday, hitting $94.02. The company had a trading volume of 393,200 shares, compared to its average volume of 796,008. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.71. The firm has a market cap of $80,310.19, a PE ratio of 35.35, a price-to-earnings-growth ratio of 1.07 and a beta of 0.83. HDFC Bank Limited has a twelve month low of $59.00 and a twelve month high of $100.26.
Several equities analysts have recently issued reports on the company. Zacks Investment Research cut HDFC Bank Limited from a “hold” rating to a “sell” rating in a research report on Wednesday, November 1st. Jefferies Group LLC upgraded HDFC Bank Limited from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. Finally, Morgan Stanley upgraded HDFC Bank Limited from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. HDFC Bank Limited presently has a consensus rating of “Buy” and an average target price of $110.00.
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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