The Manufacturers Life Insurance Company increased its holdings in HDFC Bank (NYSE:HDB) by 197.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 16,989 shares of the bank’s stock after purchasing an additional 11,283 shares during the period. The Manufacturers Life Insurance Company’s holdings in HDFC Bank were worth $1,728,000 as of its most recent SEC filing.
Several other large investors have also made changes to their positions in the company. Creative Planning acquired a new position in shares of HDFC Bank during the fourth quarter worth about $203,000. CIBC World Markets Inc. acquired a new position in shares of HDFC Bank in the fourth quarter worth about $212,000. Advisor Partners LLC acquired a new position in shares of HDFC Bank in the fourth quarter worth about $216,000. Dimensional Fund Advisors LP acquired a new position in shares of HDFC Bank in the second quarter worth about $217,000. Finally, Park Avenue Securities LLC acquired a new position in shares of HDFC Bank in the third quarter worth about $224,000. 17.25% of the stock is owned by institutional investors and hedge funds.
Separately, Zacks Investment Research upgraded HDFC Bank from a “sell” rating to a “hold” rating in a research note on Tuesday, March 27th.
Shares of NYSE:HDB traded down $1.91 during trading on Friday, hitting $98.71. 678,266 shares of the company traded hands, compared to its average volume of 760,241. HDFC Bank has a one year low of $75.77 and a one year high of $110.77. The firm has a market capitalization of $86,667.23, a PE ratio of 34.11, a price-to-earnings-growth ratio of 0.91 and a beta of 1.00.
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HDFC Bank Company Profile
HDFC Bank Limited provides a range of banking and financial services to individuals and businesses in India, Bahrain, Hong Kong, and Dubai. The company operates in Treasury, Retail Banking, Wholesale Banking, and Other Banking Business segments. It accepts savings accounts, salary accounts, current accounts, fixed and recurring deposits, demat accounts, safe deposit lockers, and rural accounts, as well as offshore accounts and deposits.
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