HDFC Bank Limited (HDB) Stake Increased by Bank of America Corp DE

Bank of America Corp DE boosted its stake in shares of HDFC Bank Limited (NYSE:HDB) by 1.6% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 837,530 shares of the bank’s stock after buying an additional 13,570 shares during the period. Bank of America Corp DE’s holdings in HDFC Bank Limited were worth $62,999,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Parallel Advisors LLC increased its stake in HDFC Bank Limited by 17.1% in the first quarter. Parallel Advisors LLC now owns 1,280 shares of the bank’s stock worth $104,000 after buying an additional 187 shares during the last quarter. Creative Planning increased its stake in HDFC Bank Limited by 6.3% in the first quarter. Creative Planning now owns 1,700 shares of the bank’s stock worth $128,000 after buying an additional 100 shares during the last quarter. Dixon Hubard Feinour & Brown Inc. VA bought a new stake in HDFC Bank Limited during the first quarter worth $201,000. Arxis Securities LLC bought a new stake in HDFC Bank Limited during the first quarter worth $240,000. Finally, Bronfman E.L. Rothschild L.P. increased its stake in HDFC Bank Limited by 2.4% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 3,290 shares of the bank’s stock worth $247,000 after buying an additional 76 shares during the last quarter. 18.78% of the stock is currently owned by hedge funds and other institutional investors.

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

HDFC Bank Limited (NYSE HDB) traded down 1.365% during midday trading on Wednesday, hitting $87.815. 996,533 shares of the stock were exchanged. HDFC Bank Limited has a 1-year low of $59.00 and a 1-year high of $89.84. The company’s 50 day moving average is $85.95 and its 200 day moving average is $74.00. The company has a market capitalization of $447.79 billion, a P/E ratio of 191.318 and a beta of 0.93.

The firm also recently declared an annual dividend, which will be paid on Thursday, June 29th. Shareholders of record on Thursday, June 29th will be given a dividend of $0.493 per share. The ex-dividend date is Tuesday, June 27th. HDFC Bank Limited’s payout ratio is currently 18.10%.

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A number of equities research analysts have recently weighed in on the stock. Zacks Investment Research downgraded shares of HDFC Bank Limited from a “buy” rating to a “hold” rating in a research note on Wednesday, May 31st. Morgan Stanley downgraded shares of HDFC Bank Limited from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, March 21st.

About HDFC Bank Limited

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “HDB”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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