HDFC Bank (HDB) Hits New 52-Week High at $105.49

Shares of HDFC Bank Limited (NYSE:HDB) hit a new 52-week high during trading on Thursday . The company traded as high as $105.49 and last traded at $105.01, with a volume of 955700 shares trading hands. The stock had previously closed at $103.73.

Separately, Zacks Investment Research cut shares of HDFC Bank from a “hold” rating to a “sell” rating in a research note on Wednesday, November 1st. Two analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $114.00.

The stock has a market capitalization of $80,260.00, a P/E ratio of 87.97, a P/E/G ratio of 1.19 and a beta of 0.84.

Several hedge funds have recently made changes to their positions in HDB. Harding Loevner LP lifted its stake in shares of HDFC Bank by 2,141.9% during the 3rd quarter. Harding Loevner LP now owns 78,647,160 shares of the bank’s stock valued at $248,755,000 after buying an additional 75,139,157 shares in the last quarter. BlackRock Inc. lifted its stake in shares of HDFC Bank by 105.1% during the 2nd quarter. BlackRock Inc. now owns 2,103,171 shares of the bank’s stock valued at $182,912,000 after buying an additional 1,077,828 shares in the last quarter. FMR LLC lifted its stake in shares of HDFC Bank by 4.1% during the 2nd quarter. FMR LLC now owns 14,824,081 shares of the bank’s stock valued at $1,289,251,000 after buying an additional 589,126 shares in the last quarter. Baillie Gifford & Co. lifted its stake in shares of HDFC Bank by 64.6% during the 3rd quarter. Baillie Gifford & Co. now owns 1,461,230 shares of the bank’s stock valued at $140,818,000 after buying an additional 573,395 shares in the last quarter. Finally, Artisan Partners Limited Partnership lifted its stake in shares of HDFC Bank by 19.6% during the 3rd quarter. Artisan Partners Limited Partnership now owns 3,350,974 shares of the bank’s stock valued at $322,933,000 after buying an additional 548,882 shares in the last quarter. Institutional investors own 17.36% of the company’s stock.

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About HDFC Bank

HDFC Bank Limited (the Bank) is a holding company. The Bank offers a range of banking services covering commercial and investment banking on the wholesale side and transactional/branch banking on the retail side. It also offers financial services. The Bank’s segments include Treasury, Retail banking, Wholesale banking and Other banking business.

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