Massachusetts Financial Services Co. MA increased its holdings in HDFC Bank Limited (NYSE:HDB – Free Report) by 11.3% in the second quarter, Holdings Channel.com reports. The firm owned 4,791,134 shares of the bank’s stock after acquiring an additional 486,653 shares during the period. Massachusetts Financial Services Co. MA’s holdings in HDFC Bank were worth $308,214,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in HDB. Frazier Financial Advisors LLC purchased a new stake in shares of HDFC Bank in the 4th quarter valued at $29,000. Northwest Investment Counselors LLC bought a new stake in HDFC Bank during the 1st quarter valued at $34,000. Janiczek Wealth Management LLC bought a new stake in HDFC Bank during the 1st quarter valued at $35,000. Ridgewood Investments LLC bought a new stake in HDFC Bank during the 2nd quarter valued at $36,000. Finally, LRI Investments LLC bought a new stake in HDFC Bank during the 1st quarter valued at $56,000. Hedge funds and other institutional investors own 17.61% of the company’s stock.
HDFC Bank Trading Up 0.4 %
NYSE:HDB opened at $62.85 on Tuesday. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 1.37. HDFC Bank Limited has a 52 week low of $52.16 and a 52 week high of $67.44. The firm has a market capitalization of $116.90 billion, a P/E ratio of 19.28, a P/E/G ratio of 1.63 and a beta of 0.92. The company has a fifty day moving average of $60.50 and a 200 day moving average of $59.08.
Analyst Upgrades and Downgrades
A number of equities research analysts recently commented on the stock. JPMorgan Chase & Co. lowered shares of HDFC Bank from an “overweight” rating to a “neutral” rating in a report on Monday, July 22nd. StockNews.com lowered shares of HDFC Bank from a “hold” rating to a “sell” rating in a report on Thursday, June 13th.
View Our Latest Research Report on HDFC Bank
HDFC Bank Company 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.
Featured Stories
- Five stocks we like better than HDFC Bank
- Investing in the High PE Growth Stocks
- Palo Alto Analysts Drive it to New Highs: 50% Upside Is Possible
- How to Use High Beta Stocks to Maximize Your Investing Profits
- Roblox’s Growth Beyond Kids: Stock Set for Major Moves
- Russell 2000 Index, How Investors Use it For Profitable Trading
- 5 Oversold Stocks to Buy Right Now
Want to see what other hedge funds are holding HDB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for HDFC Bank Limited (NYSE:HDB – Free Report).
Receive News & Ratings for HDFC Bank Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for HDFC Bank and related companies with MarketBeat.com's FREE daily email newsletter.