Connable Office Inc. Acquires New Position in HDFC Bank Limited (NYSE:HDB)

Connable Office Inc. acquired a new stake in shares of HDFC Bank Limited (NYSE:HDB) during the second quarter, according to its most recent disclosure with the SEC. The fund acquired 14,502 shares of the bank’s stock, valued at approximately $1,261,000.

Other hedge funds have also modified their holdings of the company. Shine Investment Advisory Services Inc. purchased a new position in HDFC Bank Limited during the second quarter valued at about $156,000. IFP Advisors Inc increased its position in HDFC Bank Limited by 7.0% in the second quarter. IFP Advisors Inc now owns 2,072 shares of the bank’s stock valued at $180,000 after buying an additional 136 shares during the last quarter. Telemus Capital LLC purchased a new position in HDFC Bank Limited during the second quarter valued at about $507,000. Sei Investments Co. increased its position in HDFC Bank Limited by 23.7% in the second quarter. Sei Investments Co. now owns 1,627,388 shares of the bank’s stock valued at $141,535,000 after buying an additional 312,276 shares during the last quarter. Finally, Egerton Capital UK LLP purchased a new position in HDFC Bank Limited during the second quarter valued at about $196,127,000. Hedge funds and other institutional investors own 18.94% of the company’s stock.

HDFC Bank Limited (HDB) opened at 97.10 on Thursday. The firm has a market capitalization of $497.65 billion, a P/E ratio of 210.63 and a beta of 0.87. HDFC Bank Limited has a 52-week low of $59.00 and a 52-week high of $99.77. The company has a 50 day moving average price of $91.84 and a 200 day moving average price of $81.20.

The business also recently declared a None dividend, which was paid on Thursday, August 3rd. Investors of record on Thursday, June 29th were given a $0.494 dividend. The ex-dividend date was Tuesday, June 27th.

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Several research firms recently issued reports on HDB. Morgan Stanley raised HDFC Bank Limited from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, July 25th. Zacks Investment Research downgraded HDFC Bank Limited from a “buy” rating to a “hold” rating in a research report on Thursday, June 29th. Jefferies Group LLC raised HDFC Bank Limited from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. Finally, BidaskClub raised HDFC Bank Limited from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 24th. One analyst has rated the stock with a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. The company has an average rating of “Buy” and an average price target of $103.00.

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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Institutional Ownership by Quarter for HDFC Bank Limited (NYSE:HDB)

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