abrdn plc Raises Stock Holdings in HDFC Bank Limited (NYSE:HDB)

abrdn plc increased its stake in shares of HDFC Bank Limited (NYSE:HDB) by 0.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 298,627 shares of the bank’s stock after purchasing an additional 1,577 shares during the quarter. abrdn plc’s holdings in HDFC Bank were worth $18,682,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in HDB. Norden Group LLC purchased a new stake in shares of HDFC Bank during the 1st quarter worth $511,000. Janney Capital Management LLC increased its position in HDFC Bank by 2.4% during the 1st quarter. Janney Capital Management LLC now owns 102,592 shares of the bank’s stock valued at $5,742,000 after buying an additional 2,402 shares in the last quarter. Capstone Investment Advisors LLC increased its position in HDFC Bank by 67.8% during the 1st quarter. Capstone Investment Advisors LLC now owns 1,999,351 shares of the bank’s stock valued at $111,904,000 after buying an additional 807,490 shares in the last quarter. Tobam increased its position in HDFC Bank by 394.0% during the 1st quarter. Tobam now owns 51,472 shares of the bank’s stock valued at $2,881,000 after buying an additional 41,052 shares in the last quarter. Finally, BNP Paribas acquired a new position in HDFC Bank during the 1st quarter valued at about $9,746,000. 17.61% of the stock is currently owned by hedge funds and other institutional investors.

HDFC Bank Stock Down 1.8 %

Shares of HDB stock opened at $63.04 on Friday. The stock’s 50-day simple moving average is $62.41 and its 200-day simple moving average is $60.56. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.51 and a current ratio of 0.51. The firm has a market capitalization of $159.64 billion, a PE ratio of 19.16, a P/E/G ratio of 1.65 and a beta of 0.92. HDFC Bank Limited has a fifty-two week low of $52.16 and a fifty-two week high of $67.44.

Analyst Ratings Changes

HDB has been the topic of several recent analyst reports. StockNews.com lowered HDFC Bank from a “hold” rating to a “sell” rating in a research report on Saturday, October 12th. JPMorgan Chase & Co. lowered HDFC Bank from an “overweight” rating to a “neutral” rating in a 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.