Vontobel Asset Management Inc. grew its position in shares of HDFC Bank Limited (NYSE:HDB) by 0.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,140,936 shares of the bank’s stock after purchasing an additional 11,330 shares during the period. HDFC Bank comprises about 1.7% of Vontobel Asset Management Inc.’s holdings, making the stock its 23rd largest holding. Vontobel Asset Management Inc. owned approximately 0.25% of HDFC Bank worth $239,025,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Dimensional Fund Advisors LP bought a new stake in HDFC Bank during the second quarter worth about $217,000. Park Avenue Securities LLC bought a new stake in HDFC Bank during the third quarter worth about $224,000. Veritable L.P. bought a new stake in HDFC Bank during the second quarter worth about $226,000. First Allied Advisory Services Inc. bought a new stake in HDFC Bank during the second quarter worth about $226,000. Finally, Fort Washington Investment Advisors Inc. OH bought a new stake in HDFC Bank during the second quarter worth about $272,000. 17.36% of the stock is owned by hedge funds and other institutional investors.
HDFC Bank Limited (NYSE HDB) traded up $1.08 during midday trading on Tuesday, hitting $102.43. The stock had a trading volume of 434,300 shares, compared to its average volume of 535,078. HDFC Bank Limited has a 12 month low of $63.37 and a 12 month high of $102.77. The company has a market cap of $78,320.00, a price-to-earnings ratio of 83.96, a PEG ratio of 1.16 and a beta of 0.84.
Separately, Zacks Investment Research raised HDFC Bank from a “hold” rating to a “buy” rating and set a $110.00 price target for the company in a research note on Thursday, September 21st. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $114.00.
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HDFC Bank Company Profile
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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