Logan Capital Management Inc. Continues to Hold Stake in HDFC Bank Limited (HDB)
Logan Capital Management Inc. continued to hold its stake in HDFC Bank Limited (NYSE:HDB) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,832 shares of the bank’s stock at the end of the 2nd quarter. Logan Capital Management Inc.’s holdings in HDFC Bank Limited were worth $855,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also recently made changes to their positions in the company. First Interstate Bank bought a new position in HDFC Bank Limited during the 2nd quarter worth approximately $103,000. Parallel Advisors LLC grew its holdings in HDFC Bank Limited by 17.1% during the first quarter. Parallel Advisors LLC now owns 1,280 shares of the bank’s stock valued at $104,000 after purchasing an additional 187 shares during the period. Independent Portfolio Consultants Inc. grew its holdings in HDFC Bank Limited by 744.5% during the second quarter. Independent Portfolio Consultants Inc. now owns 1,689 shares of the bank’s stock valued at $147,000 after purchasing an additional 1,489 shares during the period. Huntington National Bank increased its stake in HDFC Bank Limited by 4.9% in the second quarter. Huntington National Bank now owns 1,730 shares of the bank’s stock valued at $150,000 after purchasing an additional 81 shares in the last quarter. Finally, Shine Investment Advisory Services Inc. bought a new stake in HDFC Bank Limited in the second quarter valued at approximately $156,000. Institutional investors and hedge funds own 17.72% of the company’s stock.
HDFC Bank Limited (NYSE HDB) traded down 0.68% on Wednesday, reaching $93.79. The company’s stock had a trading volume of 66,228 shares. HDFC Bank Limited has a 52-week low of $59.00 and a 52-week high of $100.26. The firm’s 50-day moving average price is $96.50 and its 200-day moving average price is $88.25. The stock has a market cap of $480.68 billion, a price-to-earnings ratio of 203.01 and a beta of 0.84.
Several research firms have weighed in on HDB. Zacks Investment Research upgraded shares of HDFC Bank Limited from a “hold” rating to a “buy” rating and set a $110.00 target price on the stock in a report on Thursday, September 21st. Jefferies Group LLC raised shares of HDFC Bank Limited from a “hold” rating to a “buy” rating in a research report on Tuesday, July 25th. Morgan Stanley raised shares of HDFC Bank Limited from an “equal weight” rating to an “overweight” rating in a report on Tuesday, July 25th. Finally, BidaskClub raised shares of HDFC Bank Limited from a “buy” rating to a “strong-buy” rating in a report on Monday, July 24th. One analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $110.00.
HDFC Bank Limited 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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