XY Capital Ltd Purchases New Position in HDFC Bank Limited $HDB

XY Capital Ltd purchased a new stake in HDFC Bank Limited (NYSE:HDB) during the third quarter, HoldingsChannel.com reports. The firm purchased 48,921 shares of the bank’s stock, valued at approximately $1,671,000. HDFC Bank makes up approximately 0.9% of XY Capital Ltd’s investment portfolio, making the stock its 25th biggest holding.

Several other hedge funds also recently modified their holdings of HDB. Central Pacific Bank Trust Division boosted its holdings 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 worth $26,000 after acquiring an additional 379 shares in the last quarter. Parkside Financial Bank & Trust raised its position in HDFC Bank by 54.5% in 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 during the last quarter. Accent Capital Management LLC boosted its stake in HDFC Bank by 100.0% in the third quarter. Accent Capital Management LLC now owns 918 shares of the bank’s stock worth $31,000 after purchasing an additional 459 shares in 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 grew its holdings in shares of HDFC Bank by 100.0% during 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 during the last quarter. Institutional investors and hedge funds own 17.61% of the company’s stock.

HDFC Bank Stock Performance

Shares of HDB opened at $28.25 on Friday. The business’s fifty day moving average price is $32.28 and its two-hundred day moving average price is $34.56. The firm has a market capitalization of $144.11 billion, a price-to-earnings ratio of 16.97, a PEG ratio of 1.18 and a beta of 0.56. HDFC Bank Limited has a 52 week low of $28.05 and a 52 week high of $39.81.

Analyst Ratings Changes

A number of brokerages have recently weighed in on HDB. Weiss Ratings lowered HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, March 6th. Wall Street Zen upgraded shares of HDFC Bank from a “sell” rating to a “hold” rating in a research report on Friday, January 23rd. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Reduce”.

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).