Bronfman E.L. Rothschild L.P. decreased its position in HDFC Bank Limited (NYSE:HDB) by 28.0% in the third quarter, Holdings Channel reports. The institutional investor owned 5,986 shares of the bank’s stock after selling 2,330 shares during the quarter. Bronfman E.L. Rothschild L.P.’s holdings in HDFC Bank were worth $563,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in HDB. Mainstay Capital Management LLC ADV bought a new stake in HDFC Bank in the second quarter valued at approximately $105,000. Daiwa Securities Group Inc. lifted its position in HDFC Bank by 900.0% in the third quarter. Daiwa Securities Group Inc. now owns 1,500 shares of the bank’s stock valued at $141,000 after purchasing an additional 1,350 shares during the last quarter. Oak Grove Capital LLC lifted its position in HDFC Bank by 200.0% in the third quarter. Oak Grove Capital LLC now owns 1,500 shares of the bank’s stock valued at $141,000 after purchasing an additional 1,000 shares during the last quarter. Pitcairn Co. bought a new stake in HDFC Bank in the second quarter valued at approximately $201,000. Finally, Portland Global Advisors LLC bought a new stake in HDFC Bank in the third quarter valued at approximately $224,000. Institutional investors own 18.84% of the company’s stock.
Shares of HDB stock opened at $101.86 on Friday. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.79. HDFC Bank Limited has a fifty-two week low of $85.43 and a fifty-two week high of $112.10. The company has a market capitalization of $85.52 billion, a price-to-earnings ratio of 32.03, a P/E/G ratio of 1.19 and a beta of 0.96.
Several analysts have weighed in on the company. Zacks Investment Research upgraded HDFC Bank from a “sell” rating to a “hold” rating in a research report on Thursday, September 6th. ValuEngine downgraded HDFC Bank from a “hold” rating to a “sell” rating in a research report on Tuesday, October 2nd.
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About HDFC Bank
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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