LGT Group Foundation Acquires 81,134 Shares of HDFC Bank Limited $HDB

LGT Group Foundation raised its holdings in shares of HDFC Bank Limited (NYSE:HDB) by 104.5% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 158,748 shares of the bank’s stock after purchasing an additional 81,134 shares during the quarter. LGT Group Foundation’s holdings in HDFC Bank were worth $5,366,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the stock. Insigneo Advisory Services LLC boosted its position in shares of HDFC Bank by 4.9% in the 2nd quarter. Insigneo Advisory Services LLC now owns 3,244 shares of the bank’s stock worth $249,000 after purchasing an additional 152 shares during the last quarter. Level Four Advisory Services LLC grew its stake in shares of HDFC Bank by 3.0% during the second quarter. Level Four Advisory Services LLC now owns 7,681 shares of the bank’s stock worth $589,000 after purchasing an additional 223 shares during the period. Snowden Capital Advisors LLC increased its holdings in HDFC Bank by 5.8% in the second quarter. Snowden Capital Advisors LLC now owns 5,707 shares of the bank’s stock valued at $438,000 after purchasing an additional 311 shares during the last quarter. Parkside Financial Bank & Trust increased its holdings in 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 purchasing an additional 322 shares during the last quarter. Finally, Portside Wealth Group LLC lifted its stake in HDFC Bank by 3.6% in the second quarter. Portside Wealth Group LLC now owns 9,340 shares of the bank’s stock valued at $716,000 after buying an additional 326 shares during the period. Institutional investors and hedge funds own 17.61% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. Weiss Ratings cut HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday. Wall Street Zen raised HDFC Bank from a “sell” rating to a “hold” rating in a research note on Friday, January 23rd. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce”.

HDFC Bank Stock Up 0.9%

HDB opened at $29.75 on Tuesday. The stock has a market cap of $151.76 billion, a P/E ratio of 17.87, a P/E/G ratio of 1.23 and a beta of 0.56. HDFC Bank Limited has a 12 month low of $28.65 and a 12 month high of $39.81. The company has a fifty day simple moving average of $32.90 and a 200 day simple moving average of $34.76.

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).