HDFC Bank Limited (NYSE:HDB) Short Interest Update

HDFC Bank Limited (NYSE:HDB) was the target of a significant drop in short interest during the month of June. As of June 30th, there was short interest totalling 2,047,300 shares, a drop of 27.0% from the May 30th total of 2,804,900 shares. Based on an average daily volume of 674,200 shares, the short-interest ratio is currently 3.0 days. Approximately 0.2% of the shares of the company are sold short.

Shares of NYSE HDB traded down $2.10 during trading on Friday, hitting $125.95. The company had a trading volume of 498,375 shares, compared to its average volume of 674,592. The company has a 50 day simple moving average of $127.10. HDFC Bank has a 12 month low of $85.43 and a 12 month high of $131.78. The company has a market capitalization of $109.04 billion, a price-to-earnings ratio of 37.93, a P/E/G ratio of 1.20 and a beta of 0.44.

Several research analysts have issued reports on the company. Nomura cut HDFC Bank from a “buy” rating to a “neutral” rating and set a $128.63 target price on the stock. in a research report on Tuesday, June 11th. Zacks Investment Research raised Eutelsat Communications from a “hold” rating to a “strong-buy” rating and set a $21.00 target price on the stock in a research report on Wednesday, June 12th.

Several hedge funds and other institutional investors have recently bought and sold shares of HDB. Valeo Financial Advisors LLC bought a new stake in HDFC Bank during the 2nd quarter valued at approximately $106,000. Hexavest Inc. increased its stake in HDFC Bank by 86.7% in the 2nd quarter. Hexavest Inc. now owns 2,619 shares of the bank’s stock worth $341,000 after acquiring an additional 1,216 shares during the last quarter. Schwab Charitable Fund bought a new stake in HDFC Bank in the 2nd quarter worth approximately $451,000. EFG Asset Management Americas Corp. increased its stake in HDFC Bank by 21.6% in the 2nd quarter. EFG Asset Management Americas Corp. now owns 3,744 shares of the bank’s stock worth $487,000 after acquiring an additional 665 shares during the last quarter. Finally, Crossmark Global Holdings Inc. increased its stake in HDFC Bank by 0.9% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 26,032 shares of the bank’s stock worth $3,385,000 after acquiring an additional 220 shares during the last quarter. 19.20% of the stock is currently owned by hedge funds and other institutional investors.

HDFC Bank Company Profile

HDFC Bank Limited provides a range of banking and financial services to individuals and businesses in India, Bahrain, Hong Kong, and Dubai. The company operates in Treasury, Retail Banking, Wholesale Banking, and Other Banking Business segments. It accepts savings accounts, salary accounts, current accounts, fixed and recurring deposits, demat accounts, safe deposit lockers, and rural accounts, as well as offshore accounts and deposits.

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