Nomura lowered shares of HDFC Bank (NYSE:HDB) from a buy rating to a neutral rating in a report released on Tuesday, Benzinga reports. They currently have $128.63 price target on the bank’s stock.
Separately, Zacks Investment Research cut HDFC Bank from a strong-buy rating to a hold rating in a research note on Thursday, April 25th.
Shares of NYSE HDB opened at $127.45 on Tuesday. HDFC Bank has a 1-year low of $85.43 and a 1-year high of $130.39. The company has a market cap of $110.50 billion, a price-to-earnings ratio of 38.53, a P/E/G ratio of 1.21 and a beta of 0.44.
A number of hedge funds and other institutional investors have recently modified their holdings of HDB. Lindbrook Capital LLC bought a new position in shares of HDFC Bank during the fourth quarter valued at approximately $26,000. Enlightenment Research LLC bought a new position in shares of HDFC Bank during the fourth quarter valued at approximately $31,000. American Beacon Advisors Inc. grew its stake in shares of HDFC Bank by 67.8% during the first quarter. American Beacon Advisors Inc. now owns 292 shares of the bank’s stock valued at $34,000 after buying an additional 118 shares during the last quarter. Trilogy Global Advisors LP grew its stake in shares of HDFC Bank by 4.0% during the fourth quarter. Trilogy Global Advisors LP now owns 683,298 shares of the bank’s stock valued at $71,000 after buying an additional 26,105 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in shares of HDFC Bank by 12.5% during the fourth quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 900 shares of the bank’s stock valued at $92,000 after buying an additional 100 shares during the last quarter. 19.33% of the stock is currently owned by institutional investors.
HDFC Bank Company Profile
HDFC Bank Limited provides a range of banking and financial services to individuals and businesses in India, Bahrain, Hong Kong, and Dubai. The company operates in Treasury, Retail Banking, Wholesale Banking, and Other Banking Business segments. It accepts savings accounts, salary accounts, current accounts, fixed and recurring deposits, demat accounts, safe deposit lockers, and rural accounts, as well as offshore accounts and deposits.
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