West Family Investments Inc. Grows Stock Position in HDFC Bank Limited $HDB

West Family Investments Inc. raised its holdings in HDFC Bank Limited (NYSE:HDB) by 101.7% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 51,418 shares of the bank’s stock after acquiring an additional 25,924 shares during the period. West Family Investments Inc.’s holdings in HDFC Bank were worth $1,756,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Insigneo Advisory Services LLC boosted its position in shares of HDFC Bank by 4.9% in the second quarter. Insigneo Advisory Services LLC now owns 3,244 shares of the bank’s stock worth $249,000 after acquiring an additional 152 shares during the last quarter. Huntington National Bank boosted its holdings in shares of HDFC Bank by 13.3% in the 2nd quarter. Huntington National Bank now owns 1,349 shares of the bank’s stock valued at $103,000 after purchasing an additional 158 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of HDFC Bank by 1.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 14,694 shares of the bank’s stock worth $1,127,000 after buying an additional 194 shares during the last quarter. Level Four Advisory Services LLC increased its holdings in shares of HDFC Bank by 3.0% during the 2nd quarter. Level Four Advisory Services LLC now owns 7,681 shares of the bank’s stock worth $589,000 after buying an additional 223 shares during the last quarter. Finally, First Horizon Advisors Inc. raised its position in shares of HDFC Bank by 12.0% in the 2nd quarter. First Horizon Advisors Inc. now owns 2,548 shares of the bank’s stock worth $195,000 after buying an additional 273 shares during the period. 17.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on HDB shares. Weiss Ratings raised HDFC Bank from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, January 26th. Wall Street Zen upgraded HDFC Bank from a “sell” rating to a “hold” rating in a report on Friday, January 23rd. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold”.

HDFC Bank Stock Performance

Shares of NYSE:HDB opened at $32.13 on Thursday. The company has a market cap of $163.90 billion, a P/E ratio of 19.30, a PEG ratio of 1.34 and a beta of 0.57. HDFC Bank Limited has a one year low of $29.23 and a one year high of $39.81. The business’s 50-day simple moving average is $33.75 and its 200 day simple moving average is $35.14.

About HDFC Bank

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).