CI Investments Inc. Has $20.73 Million Stock Position in HDFC Bank Limited $HDB

CI Investments Inc. raised its position in HDFC Bank Limited (NYSE:HDB) by 33.2% during the third quarter, Holdings Channel.com reports. The institutional investor owned 606,752 shares of the bank’s stock after purchasing an additional 151,351 shares during the quarter. CI Investments Inc.’s holdings in HDFC Bank were worth $20,727,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in HDB. Central Pacific Bank Trust Division raised its stake in shares of 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 acquiring an additional 379 shares during the last quarter. Parkside Financial Bank & Trust increased its holdings in HDFC Bank by 54.5% during the 3rd quarter. Parkside Financial Bank & Trust now owns 913 shares of the bank’s stock valued at $31,000 after purchasing an additional 322 shares in the last quarter. Accent Capital Management LLC raised its position in HDFC Bank by 100.0% in the 3rd quarter. Accent Capital Management LLC now owns 918 shares of the bank’s stock valued at $31,000 after purchasing an additional 459 shares during the last quarter. Clearstead Advisors LLC boosted its stake in HDFC Bank by 476.8% in the third quarter. Clearstead Advisors LLC now owns 894 shares of the bank’s stock worth $31,000 after purchasing an additional 739 shares in the last quarter. Finally, J.Safra Asset Management Corp boosted its stake in HDFC Bank by 100.0% in the third quarter. J.Safra Asset Management Corp now owns 1,020 shares of the bank’s stock worth $35,000 after purchasing an additional 510 shares in the last quarter. 17.61% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

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

HDFC Bank Stock Down 2.3%

HDFC Bank stock opened at $30.84 on Wednesday. The business’s 50-day simple moving average is $33.41 and its 200 day simple moving average is $34.97. The stock has a market cap of $157.33 billion, a price-to-earnings ratio of 18.52, a P/E/G ratio of 1.31 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.

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).