Longfellow Investment Management Co. LLC Acquires 37,208 Shares of HDFC Bank Limited $HDB

Longfellow Investment Management Co. LLC raised its stake in HDFC Bank Limited (NYSE:HDB) by 100.0% in the 3rd quarter, HoldingsChannel reports. The fund owned 74,416 shares of the bank’s stock after buying an additional 37,208 shares during the quarter. Longfellow Investment Management Co. LLC’s holdings in HDFC Bank were worth $2,542,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. NewSquare Capital LLC lifted its holdings in HDFC Bank by 136.4% in the second quarter. NewSquare Capital LLC now owns 676 shares of the bank’s stock valued at $52,000 after buying an additional 390 shares during the period. Assetmark Inc. lifted its stake in HDFC Bank by 358.4% in the second quarter. Assetmark Inc. now owns 706 shares of the bank’s stock valued at $54,000 after buying an additional 552 shares in the last quarter. Central Pacific Bank Trust Division lifted its position in HDFC Bank by 100.0% in the 3rd quarter. Central Pacific Bank Trust Division now owns 758 shares of the bank’s stock valued at $26,000 after acquiring an additional 379 shares in the last quarter. Clearstead Advisors LLC boosted its position in shares of HDFC Bank by 476.8% during the third quarter. Clearstead Advisors LLC now owns 894 shares of the bank’s stock worth $31,000 after buying an additional 739 shares during the period. Finally, Parkside Financial Bank & Trust boosted its position in HDFC Bank by 54.5% during the 3rd quarter. Parkside Financial Bank & Trust now owns 913 shares of the bank’s stock worth $31,000 after acquiring an additional 322 shares during the last quarter. Institutional investors own 17.61% of the company’s stock.

Analysts Set New Price Targets

HDB has been the topic of several recent analyst reports. Wall Street Zen raised HDFC Bank from a “sell” rating to a “hold” rating in a research report on Friday, January 23rd. Weiss Ratings raised HDFC Bank from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, January 26th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, HDFC Bank presently has an average rating of “Hold”.

HDFC Bank Stock Down 1.2%

NYSE HDB opened at $30.42 on Friday. The company has a market cap of $155.19 billion, a price-to-earnings ratio of 18.27, a price-to-earnings-growth ratio of 1.28 and a beta of 0.56. The business’s fifty day moving average is $33.17 and its 200 day moving average is $34.91. HDFC Bank Limited has a twelve month low of $29.23 and a twelve month high of $39.81.

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).