Waverton Investment Management Ltd Raises Stake in HDFC Bank Limited $HDB

Waverton Investment Management Ltd increased its position in HDFC Bank Limited (NYSE:HDB) by 106.7% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 52,100 shares of the bank’s stock after acquiring an additional 26,900 shares during the period. Waverton Investment Management Ltd’s holdings in HDFC Bank were worth $1,779,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. NewSquare Capital LLC lifted its stake in shares of HDFC Bank by 136.4% during the 2nd quarter. NewSquare Capital LLC now owns 676 shares of the bank’s stock worth $52,000 after purchasing an additional 390 shares during the period. Assetmark Inc. grew its position in shares of HDFC Bank by 358.4% in the second quarter. Assetmark Inc. now owns 706 shares of the bank’s stock valued at $54,000 after purchasing an additional 552 shares during the period. Central Pacific Bank Trust Division increased its stake in HDFC Bank by 100.0% in the third quarter. Central Pacific Bank Trust Division now owns 758 shares of the bank’s stock valued at $26,000 after purchasing an additional 379 shares during the last quarter. Clearstead Advisors LLC lifted its position in HDFC Bank by 476.8% during the third quarter. Clearstead Advisors LLC now owns 894 shares of the bank’s stock worth $31,000 after buying an additional 739 shares during the period. Finally, Parkside Financial Bank & Trust boosted its stake in HDFC Bank by 54.5% in the 3rd quarter. Parkside Financial Bank & Trust now owns 913 shares of the bank’s stock worth $31,000 after buying an additional 322 shares during the last quarter. 17.61% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have recently weighed in on the stock. Wall Street Zen upgraded shares of HDFC Bank from a “sell” rating to a “hold” rating in a report on Friday, January 23rd. Weiss Ratings raised shares of HDFC Bank from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, January 26th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the company currently has an average rating of “Hold”.

HDFC Bank Stock Down 0.6%

HDB opened at $31.82 on Monday. HDFC Bank Limited has a 52-week low of $29.23 and a 52-week high of $39.81. The company has a 50 day moving average of $33.61 and a two-hundred day moving average of $35.05. The company has a market cap of $162.31 billion, a P/E ratio of 19.11, a P/E/G ratio of 1.33 and a beta of 0.56.

About HDFC Bank

HDFC Bank Limited is one of India’s leading private sector banks, headquartered in Mumbai. Incorporated in 1994 and promoted by Housing Development Finance Corporation (HDFC), the bank provides a full range of banking and financial services to retail, small and medium-sized enterprises, and corporate customers. It is publicly listed and also accessible to international investors through American Depositary Receipts (ADRs) trading on the New York Stock Exchange under the symbol HDB.

The bank’s core activities include retail banking (deposit accounts, personal loans, home loans, auto loans, and credit cards), commercial and corporate banking (working capital finance, term lending, trade finance and treasury services), and transaction banking (cash management and payment solutions).