Bessemer Group Inc. increased its position in HDFC Bank Limited (NYSE:HDB) by 6.2% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 177,432 shares of the bank’s stock after acquiring an additional 10,371 shares during the period. Bessemer Group Inc.’s holdings in HDFC Bank were worth $23,074,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Rockefeller Capital Management L.P. lifted its stake in shares of HDFC Bank by 0.8% during the 1st quarter. Rockefeller Capital Management L.P. now owns 10,346 shares of the bank’s stock worth $1,199,000 after purchasing an additional 87 shares during the period. Lindbrook Capital LLC lifted its stake in shares of HDFC Bank by 40.9% during the 1st quarter. Lindbrook Capital LLC now owns 355 shares of the bank’s stock worth $41,000 after purchasing an additional 103 shares during the period. Capital Insight Partners LLC lifted its stake in shares of HDFC Bank by 1.4% during the 2nd quarter. Capital Insight Partners LLC now owns 8,648 shares of the bank’s stock worth $1,125,000 after purchasing an additional 116 shares during the period. American Beacon Advisors Inc. lifted its stake in shares of HDFC Bank by 67.8% during the 1st quarter. American Beacon Advisors Inc. now owns 292 shares of the bank’s stock worth $34,000 after purchasing an additional 118 shares during the period. Finally, SeaBridge Investment Advisors LLC lifted its stake in shares of HDFC Bank by 1.8% during the 1st quarter. SeaBridge Investment Advisors LLC now owns 7,987 shares of the bank’s stock worth $926,000 after purchasing an additional 140 shares during the period. Institutional investors and hedge funds own 19.20% of the company’s stock.
NYSE:HDB traded down $2.57 during mid-day trading on Tuesday, hitting $114.93. The company had a trading volume of 76,973 shares, compared to its average volume of 599,410. The business has a fifty day simple moving average of $127.42. HDFC Bank Limited has a 1 year low of $85.43 and a 1 year high of $131.78. The company has a market capitalization of $106.25 billion, a price-to-earnings ratio of 34.59, a price-to-earnings-growth ratio of 1.17 and a beta of 0.44.
Several research analysts have commented on the company. Nomura lowered HDFC Bank from a “buy” rating to a “neutral” rating and set a $128.63 price objective on the stock. in a research report on Tuesday, June 11th. Zacks Investment Research lowered H&E Equipment Services from a “hold” rating to a “sell” rating in a research report on Wednesday, July 17th.
About HDFC Bank
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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