WCM Investment Management CA grew its stake in HDFC Bank Limited (NYSE:HDB) by 2.6% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,507,836 shares of the bank’s stock after purchasing an additional 193,290 shares during the quarter. HDFC Bank Limited comprises approximately 9.1% of WCM Investment Management CA’s holdings, making the stock its 3rd largest holding. WCM Investment Management CA owned 0.88% of HDFC Bank Limited worth $723,531,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. First Interstate Bank bought a new position in shares of HDFC Bank Limited in the 2nd quarter valued at about $103,000. Parallel Advisors LLC increased its stake in HDFC Bank Limited by 14.8% in the second quarter. Parallel Advisors LLC now owns 1,469 shares of the bank’s stock valued at $142,000 after acquiring an additional 189 shares during the last quarter. Huntington National Bank increased its stake in HDFC Bank Limited by 4.9% in the second quarter. Huntington National Bank now owns 1,730 shares of the bank’s stock valued at $150,000 after acquiring an additional 81 shares during the last quarter. Shine Investment Advisory Services Inc. bought a new stake in shares of HDFC Bank Limited during the second quarter worth $156,000. Finally, Creative Planning grew its stake in shares of HDFC Bank Limited by 7.1% during the second quarter. Creative Planning now owns 1,821 shares of the bank’s stock worth $158,000 after buying an additional 121 shares during the last quarter. 17.78% of the stock is currently owned by institutional investors.
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Shares of HDFC Bank Limited (NYSE:HDB) traded down $0.41 during trading hours on Tuesday, hitting $93.61. 346,300 shares of the stock were exchanged, compared to its average volume of 728,350. The firm has a market capitalization of $71,680.00, a price-to-earnings ratio of 35.35, a PEG ratio of 1.07 and a beta of 0.82. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.71. HDFC Bank Limited has a 52 week low of $59.00 and a 52 week high of $100.26.
A number of research firms have weighed in on HDB. Zacks Investment Research cut shares of HDFC Bank Limited from a “buy” rating to a “hold” rating in a research note on Tuesday, August 15th. Morgan Stanley raised shares of HDFC Bank Limited from an “equal weight” rating to an “overweight” rating in a research note on Tuesday, July 25th. Jefferies Group LLC raised shares of HDFC Bank Limited from a “hold” rating to a “buy” rating in a research note on Tuesday, July 25th. Finally, BidaskClub raised shares of HDFC Bank Limited from a “buy” rating to a “strong-buy” rating in a research note on Monday, July 24th. One analyst has rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $110.00.
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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