Nomura Asset Management Co. Ltd. raised its stake in shares of HDFC Bank Limited (NYSE:HDB) by 8.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 42,520 shares of the bank’s stock after acquiring an additional 3,335 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in HDFC Bank were worth $4,323,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Tower Research Capital LLC TRC boosted its stake in HDFC Bank by 543.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 1,931 shares of the bank’s stock valued at $197,000 after acquiring an additional 1,631 shares during the last quarter. Pitcairn Co. bought a new position in HDFC Bank during the 4th quarter valued at $202,000. Creative Planning bought a new position in HDFC Bank during the 4th quarter valued at $203,000. Advisor Partners LLC bought a new position in HDFC Bank during the 4th quarter valued at $216,000. Finally, CIBC World Markets Inc. bought a new position in HDFC Bank during the 4th quarter valued at $212,000. Hedge funds and other institutional investors own 17.40% of the company’s stock.
HDFC Bank Limited (NYSE:HDB) opened at $97.45 on Tuesday. HDFC Bank Limited has a 52-week low of $72.02 and a 52-week high of $110.77. The stock has a market cap of $83,023.79, a PE ratio of 36.24, a PEG ratio of 1.09 and a beta of 1.00.
Separately, Zacks Investment Research upgraded shares of HDFC Bank from a “hold” rating to a “buy” rating and set a $113.00 price target on the stock in a research report on Monday, January 1st.
About HDFC Bank
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.
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