CIBC Bancorp USA Inc. Invests $87.65 Million in HDFC Bank Limited $HDB

CIBC Bancorp USA Inc. acquired a new stake in HDFC Bank Limited (NYSE:HDB) during the third quarter, according to its most recent filing with the SEC. The firm acquired 2,565,879 shares of the bank’s stock, valued at approximately $87,650,000. CIBC Bancorp USA Inc. owned about 0.05% of HDFC Bank at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of HDB. First Affirmative Financial Network lifted its stake in shares of HDFC Bank by 96.1% in the 3rd quarter. First Affirmative Financial Network now owns 7,653 shares of the bank’s stock worth $261,000 after acquiring an additional 3,751 shares during the period. Captrust Financial Advisors increased its stake in shares of HDFC Bank by 109.8% during the third quarter. Captrust Financial Advisors now owns 102,154 shares of the bank’s stock worth $3,490,000 after acquiring an additional 53,469 shares during the period. Coldstream Capital Management Inc. raised its holdings in HDFC Bank by 169.7% during the third quarter. Coldstream Capital Management Inc. now owns 33,561 shares of the bank’s stock worth $1,146,000 after purchasing an additional 21,118 shares in the last quarter. Caitong International Asset Management Co. Ltd purchased a new position in HDFC Bank during the third quarter worth about $43,000. Finally, Advisory Services Network LLC acquired a new stake in HDFC Bank in the third quarter valued at about $103,000. 17.61% of the stock is owned by institutional investors and hedge funds.

HDFC Bank Trading Down 1.0%

NYSE:HDB opened at $28.70 on Wednesday. The company has a market capitalization of $146.41 billion, a P/E ratio of 17.24, a price-to-earnings-growth ratio of 1.21 and a beta of 0.56. The firm has a 50-day moving average price of $32.08 and a two-hundred day moving average price of $34.44. HDFC Bank Limited has a twelve month low of $28.05 and a twelve month high of $39.81.

Analysts Set New Price Targets

HDB has been the topic of a number of analyst reports. Weiss Ratings lowered HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, March 6th. Wall Street Zen raised HDFC Bank from a “sell” rating to a “hold” rating in a research note on Friday, January 23rd. One equities 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 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).