First Mercantile Trust Co. lowered its position in shares of HDFC Bank Limited (NYSE:HDB) by 9.7% during the second quarter, according to its most recent filing with the SEC. The firm owned 8,150 shares of the bank’s stock after selling 880 shares during the period. First Mercantile Trust Co.’s holdings in HDFC Bank Limited were worth $709,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of HDB. DekaBank Deutsche Girozentrale raised its position in HDFC Bank Limited by 121.0% in the second quarter. DekaBank Deutsche Girozentrale now owns 24,526 shares of the bank’s stock worth $2,111,000 after buying an additional 13,426 shares during the period. First Trust Advisors LP raised its position in HDFC Bank Limited by 13.3% in the second quarter. First Trust Advisors LP now owns 238,932 shares of the bank’s stock worth $20,780,000 after buying an additional 28,059 shares during the period. Summit Securities Group LLC purchased a new position in HDFC Bank Limited during the second quarter worth approximately $2,113,000. Wetherby Asset Management Inc. raised its position in HDFC Bank Limited by 21.7% in the second quarter. Wetherby Asset Management Inc. now owns 7,465 shares of the bank’s stock worth $649,000 after buying an additional 1,331 shares during the period. Finally, Connable Office Inc. purchased a new position in HDFC Bank Limited during the second quarter worth approximately $1,261,000. 18.72% of the stock is currently owned by institutional investors and hedge funds.

HDFC Bank Limited (NYSE:HDB) opened at 93.60 on Monday. HDFC Bank Limited has a 52-week low of $59.00 and a 52-week high of $99.77. The stock has a market capitalization of $479.71 billion, a price-to-earnings ratio of 203.04 and a beta of 0.87. The stock’s 50 day moving average is $92.19 and its 200-day moving average is $81.50.

The business also recently declared a None dividend, which was paid on Thursday, August 3rd. Shareholders of record on Thursday, June 29th were issued a $0.494 dividend. The ex-dividend date of this dividend was Tuesday, June 27th.

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A number of research analysts have recently commented on the stock. Jefferies Group LLC upgraded shares of HDFC Bank Limited from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. Morgan Stanley upgraded shares of HDFC Bank Limited from an “equal weight” rating to an “overweight” rating in a research report on Tuesday, July 25th. BidaskClub upgraded shares of HDFC Bank Limited from a “buy” rating to a “strong-buy” rating in a research report on Monday, July 24th. Finally, Zacks Investment Research upgraded shares of HDFC Bank Limited from a “hold” rating to a “buy” rating and set a $103.00 price target for the company in a research report on Friday, July 21st. One research analyst has rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average target price of $103.00.

HDFC Bank Limited Company Profile

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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Institutional Ownership by Quarter for HDFC Bank Limited (NYSE:HDB)

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