Raymond James & Associates Has $36.81 Million Stock Holdings in HDFC Bank Limited (NYSE:HDB)

Raymond James & Associates raised its stake in HDFC Bank Limited (NYSE:HDB) by 2.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 588,382 shares of the bank’s stock after buying an additional 15,238 shares during the period. Raymond James & Associates’ holdings in HDFC Bank were worth $36,809,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Capital World Investors boosted its holdings in shares of HDFC Bank by 208.6% during the 1st quarter. Capital World Investors now owns 4,124,751 shares of the bank’s stock valued at $230,862,000 after acquiring an additional 2,788,197 shares in the last quarter. Manning & Napier Advisors LLC bought a new position in HDFC Bank in the second quarter valued at about $166,709,000. PineStone Asset Management Inc. boosted its stake in shares of HDFC Bank by 115.1% during the second quarter. PineStone Asset Management Inc. now owns 4,468,960 shares of the bank’s stock valued at $287,488,000 after purchasing an additional 2,391,343 shares in the last quarter. CCLA Investment Management grew its holdings in shares of HDFC Bank by 100,691.5% during the first quarter. CCLA Investment Management now owns 1,748,733 shares of the bank’s stock worth $97,534,000 after purchasing an additional 1,746,998 shares during the last quarter. Finally, Sustainable Growth Advisers LP increased its stake in shares of HDFC Bank by 24.1% in the first quarter. Sustainable Growth Advisers LP now owns 8,824,089 shares of the bank’s stock valued at $493,884,000 after buying an additional 1,711,784 shares during the period. 17.61% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have issued reports on HDB shares. JPMorgan Chase & Co. cut shares of HDFC Bank from an “overweight” rating to a “neutral” rating in a research report on Monday, July 22nd. StockNews.com downgraded HDFC Bank from a “hold” rating to a “sell” rating in a report on Saturday, October 12th.

HDFC Bank Price Performance

Shares of HDB opened at $64.19 on Thursday. The business has a 50-day moving average of $61.94 and a 200-day moving average of $60.34. HDFC Bank Limited has a 1 year low of $52.16 and a 1 year high of $67.44. The company has a market capitalization of $119.38 billion, a price-to-earnings ratio of 19.69, a price-to-earnings-growth ratio of 1.95 and a beta of 0.92. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.51 and a quick ratio of 0.51.

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.