PDS Planning Inc Takes $569,000 Position in HDFC Bank Limited (NYSE:HDB)

PDS Planning Inc purchased a new position in HDFC Bank Limited (NYSE:HDB) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 9,097 shares of the bank’s stock, valued at approximately $569,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Norden Group LLC acquired a new position in HDFC Bank during the 1st quarter worth $511,000. Nordea Investment Management AB lifted its holdings in shares of HDFC Bank by 3.1% in the first quarter. Nordea Investment Management AB now owns 296,446 shares of the bank’s stock valued at $16,542,000 after purchasing an additional 8,946 shares in the last quarter. Daiwa Securities Group Inc. grew its stake in HDFC Bank by 76.0% during the 1st quarter. Daiwa Securities Group Inc. now owns 3,563 shares of the bank’s stock valued at $199,000 after acquiring an additional 1,538 shares in the last quarter. Whittier Trust Co. increased its stake in HDFC Bank by 12.2% in the 1st quarter. Whittier Trust Co. now owns 12,682 shares of the bank’s stock valued at $710,000 after buying an additional 1,377 shares during the period. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in shares of HDFC Bank during the first quarter worth $727,000. Hedge funds and other institutional investors own 17.61% of the company’s stock.

HDFC Bank Price Performance

Shares of HDFC Bank stock opened at $62.51 on Tuesday. The firm has a market cap of $158.29 billion, a P/E ratio of 19.00, a price-to-earnings-growth ratio of 1.66 and a beta of 0.91. The firm’s 50-day simple moving average is $62.48 and its 200-day simple moving average is $60.70. HDFC Bank Limited has a twelve month low of $52.16 and a twelve month high of $67.44. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.53.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. JPMorgan Chase & Co. downgraded shares of HDFC Bank from an “overweight” rating to a “neutral” rating in a report on Monday, July 22nd. StockNews.com downgraded shares of HDFC Bank from a “hold” rating to a “sell” rating in a report on Saturday, October 12th.

HDFC Bank Profile

HDFC Bank Limited provides banking and financial services to individuals and businesses in India, Bahrain, Hong Kong, and Dubai. The company operates in three segments: Wholesale Banking, Retail Banking, and Treasury Services. It accepts savings, salary, current, rural, public provident fund, pension, and demat accounts; fixed and recurring deposits; and safe deposit lockers, as well as offshore accounts and deposits, and overdrafts against fixed deposits.