Federated Hermes Inc. lifted its stake in shares of HDFC Bank Limited (NYSE:HDB – Free Report) by 16.9% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 158,570 shares of the bank’s stock after buying an additional 22,950 shares during the quarter. Federated Hermes Inc.’s holdings in HDFC Bank were worth $10,572,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently modified their holdings of the company. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of HDFC Bank by 8.3% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 975,839 shares of the bank’s stock valued at $66,757,000 after buying an additional 74,918 shares during the period. Aigen Investment Management LP purchased a new position in shares of HDFC Bank during the fourth quarter valued at about $2,268,000. First Trust Direct Indexing L.P. increased its position in shares of HDFC Bank by 2.1% during the first quarter. First Trust Direct Indexing L.P. now owns 11,946 shares of the bank’s stock valued at $796,000 after buying an additional 245 shares during the period. Summit Global Investments purchased a new position in shares of HDFC Bank during the fourth quarter valued at about $405,000. Finally, Ninety One UK Ltd grew its holdings in HDFC Bank by 2.4% in the fourth quarter. Ninety One UK Ltd now owns 1,998,744 shares of the bank’s stock worth $136,734,000 after purchasing an additional 46,394 shares during the period. Hedge funds and other institutional investors own 17.71% of the company’s stock.
HDFC Bank Price Performance
Shares of HDB opened at $66.32 on Friday. The firm’s 50-day simple moving average is $67.57 and its two-hundred day simple moving average is $67.29. HDFC Bank Limited has a fifty-two week low of $55.22 and a fifty-two week high of $71.76. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.36 and a current ratio of 0.36. The stock has a market cap of $123.35 billion, a PE ratio of 20.73, a price-to-earnings-growth ratio of 1.51 and a beta of 0.76.
Analysts Set New Price Targets
A number of equities research analysts have weighed in on the stock. StockNews.com assumed coverage on shares of HDFC Bank in a report on Thursday, May 18th. They issued a “hold” rating on the stock. Jefferies Financial Group assumed coverage on shares of HDFC Bank in a report on Monday, July 17th. They issued a “buy” rating on the stock. Finally, The Goldman Sachs Group assumed coverage on shares of HDFC Bank in a report on Tuesday, June 20th. They issued a “buy” rating on the stock.
View Our Latest Research Report on HDFC Bank
HDFC Bank Profile
HDFC Bank Limited provides banking and financial services to individuals and businesses in India, Bahrain, Hong Kong, and Dubai. The company operates in three segments: Wholesale Banking, Retail Banking, and Treasury Services. It accepts savings, salary, current, rural, public provident fund, pension, and demat accounts; fixed and recurring deposits; and safe deposit lockers, as well as offshore accounts and deposits, and overdrafts against fixed deposits.
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