Munich Reinsurance Co Stock Corp in Munich Purchases Shares of 222,218 HDFC Bank Limited $HDB

Munich Reinsurance Co Stock Corp in Munich purchased a new position in shares of HDFC Bank Limited (NYSE:HDB) during the third quarter, Holdings Channel.com reports. The fund purchased 222,218 shares of the bank’s stock, valued at approximately $7,591,000.

Other large investors also recently bought and sold shares of the company. Central Pacific Bank Trust Division increased its position in shares of HDFC Bank by 100.0% in the 3rd 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. Parkside Financial Bank & Trust boosted its holdings in shares of HDFC Bank by 54.5% in the third quarter. Parkside Financial Bank & Trust now owns 913 shares of the bank’s stock valued at $31,000 after acquiring an additional 322 shares during the period. Accent Capital Management LLC boosted its stake in HDFC Bank by 100.0% during the 3rd quarter. Accent Capital Management LLC now owns 918 shares of the bank’s stock worth $31,000 after purchasing an additional 459 shares during the period. Clearstead Advisors LLC grew its holdings in shares of 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 last quarter. Finally, J.Safra Asset Management Corp grew its position in HDFC Bank by 100.0% in the 3rd quarter. J.Safra Asset Management Corp now owns 1,020 shares of the bank’s stock valued at $35,000 after buying an additional 510 shares during the last quarter. Hedge funds and other institutional investors own 17.61% of the company’s stock.

HDFC Bank Trading Down 2.9%

Shares of NYSE HDB opened at $29.50 on Friday. The stock has a fifty day moving average price of $33.04 and a 200 day moving average price of $34.83. The company has a market cap of $150.49 billion, a P/E ratio of 17.72, a P/E/G ratio of 1.23 and a beta of 0.56. HDFC Bank Limited has a 12-month low of $29.23 and a 12-month high of $39.81.

Wall Street Analyst Weigh In

HDB has been the topic of a number of recent analyst reports. Weiss Ratings lowered HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday. Wall Street Zen raised shares of HDFC Bank from a “sell” rating to a “hold” rating in a research note on Friday, January 23rd. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce”.

HDFC Bank Company Profile

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).