M&G Plc Sells 14,835 Shares of HDFC Bank Limited (NYSE:HDB)

by · The Markets Daily

M&G Plc reduced its holdings in HDFC Bank Limited (NYSE:HDB – Free Report) by 1.2% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,239,465 shares of the bank’s stock after selling 14,835 shares during the quarter. M&G Plc owned 0.07% of HDFC Bank worth $78,086,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Ridgewood Investments LLC acquired a new position in shares of HDFC Bank during the second quarter worth about $36,000. Northwest Investment Counselors LLC acquired a new position in shares of HDFC Bank during the third quarter worth about $38,000. JFS Wealth Advisors LLC boosted its position in shares of HDFC Bank by 70.2% during the third quarter. JFS Wealth Advisors LLC now owns 667 shares of the bank’s stock worth $42,000 after buying an additional 275 shares during the period. LRI Investments LLC acquired a new position in HDFC Bank during the first quarter valued at approximately $56,000. Finally, GAMMA Investing LLC boosted its position in HDFC Bank by 56.0% during the second quarter. GAMMA Investing LLC now owns 903 shares of the bank’s stock valued at $58,000 after purchasing an additional 324 shares during the last quarter. 17.61% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on HDB shares. JPMorgan Chase & Co. cut HDFC Bank from an “overweight” rating to a “neutral” rating in a research report on Monday, July 22nd. StockNews.com cut HDFC Bank from a “hold” rating to a “sell” rating in a research report on Saturday, October 12th.

Get Our Latest Analysis on HDFC Bank

HDFC Bank Stock Performance

Shares of NYSE HDB opened at $64.46 on Thursday. The stock has a 50 day moving average price of $62.61 and a 200 day moving average price of $60.76. HDFC Bank Limited has a 52 week low of $52.16 and a 52 week high of $67.44. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.53. The stock has a market capitalization of $163.23 billion, a PE ratio of 19.59, a price-to-earnings-growth ratio of 1.64 and a beta of 0.91.

HDFC Bank Profile

(Free Report)

HDFC Bank Limited provides banking and financial services to individuals and businesses in India, Bahrain, Hong Kong, and Dubai. The company operates in three segments: Wholesale Banking, Retail Banking, and Treasury Services. It accepts savings, salary, current, rural, public provident fund, pension, and demat accounts; fixed and recurring deposits; and safe deposit lockers, as well as offshore accounts and deposits, and overdrafts against fixed deposits.

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