US Bancorp DE Increases Stock Holdings in HDFC Bank Limited (NYSE:HDB)

US Bancorp DE boosted its holdings in HDFC Bank Limited (NYSE:HDB) by 38.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 139,865 shares of the bank’s stock after buying an additional 38,571 shares during the period. US Bancorp DE’s holdings in HDFC Bank were worth $8,750,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Manning & Napier Advisors LLC acquired a new stake in shares of HDFC Bank in the second quarter worth approximately $166,709,000. Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of HDFC Bank by 580.7% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 805,060 shares of the bank’s stock valued at $45,079,000 after buying an additional 686,789 shares during the period. Deprince Race & Zollo Inc. increased its holdings in shares of HDFC Bank by 56.3% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 139,612 shares of the bank’s stock worth $8,981,000 after buying an additional 50,301 shares during the last quarter. Norden Group LLC purchased a new position in shares of HDFC Bank in the 1st quarter worth $511,000. Finally, LRI Investments LLC acquired a new position in HDFC Bank in the first quarter valued at $125,000. Hedge funds and other institutional investors own 17.61% of the company’s stock.

HDFC Bank Stock Performance

NYSE:HDB opened at $63.20 on Monday. The firm’s fifty day simple moving average is $62.46 and its 200 day simple moving average is $60.66. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34. HDFC Bank Limited has a twelve month low of $52.16 and a twelve month high of $67.44. The firm has a market capitalization of $160.04 billion, a price-to-earnings ratio of 19.21, a PEG ratio of 1.65 and a beta of 0.91.

Analysts Set New Price Targets

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

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.