Parallel Advisors LLC boosted its position in HDFC Bank Limited (NYSE:HDB) by 17.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,280 shares of the bank’s stock after buying an additional 187 shares during the period. Parallel Advisors LLC’s holdings in HDFC Bank Limited were worth $104,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Axiom International Investors LLC DE raised its position in HDFC Bank Limited by 79.1% in the first quarter. Axiom International Investors LLC DE now owns 483,844 shares of the bank’s stock worth $36,395,000 after buying an additional 213,664 shares during the last quarter. Vanguard Group Inc. boosted its position in shares of HDFC Bank Limited by 15.8% in the first quarter. Vanguard Group Inc. now owns 969,999 shares of the bank’s stock worth $72,964,000 after buying an additional 132,310 shares in the last quarter. Marshall Wace North America L.P. bought a new position in shares of HDFC Bank Limited during the first quarter worth $415,000. MARSHALL WACE ASIA Ltd bought a new position in shares of HDFC Bank Limited during the first quarter worth $415,000. Finally, Overbrook Management Corp bought a new position in shares of HDFC Bank Limited during the first quarter worth $293,000. 18.78% of the stock is currently owned by hedge funds and other institutional investors.
Shares of HDFC Bank Limited (NYSE:HDB) traded down 0.06% during midday trading on Tuesday, hitting $89.03. The stock had a trading volume of 423,703 shares. The company has a market capitalization of $453.99 billion, a PE ratio of 193.97 and a beta of 0.93. The firm’s 50-day moving average is $85.70 and its 200 day moving average is $73.81. HDFC Bank Limited has a one year low of $59.00 and a one year high of $89.84.
The company also recently disclosed an annual dividend, which will be paid on Thursday, June 29th. Investors of record on Thursday, June 29th will be issued a dividend of $0.493 per share. The ex-dividend date is Tuesday, June 27th. HDFC Bank Limited’s payout ratio is presently 18.10%.
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Several equities analysts have weighed in on HDB shares. Zacks Investment Research raised HDFC Bank Limited from a “hold” rating to a “buy” rating and set a $81.00 target price on the stock in a research note on Tuesday, March 14th. Morgan Stanley cut HDFC Bank Limited from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, March 21st.
About HDFC Bank Limited
HDFC Bank Limited (the Bank) is a holding company. The Bank offers a range of banking services covering commercial and investment banking on the wholesale side and transactional/branch banking on the retail side. It also offers financial services. The Bank’s segments include Treasury, Retail banking, Wholesale banking and Other banking business.
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