HDFC Bank Limited (NYSE:HDB) Position Lessened by M&T Bank Corp

M&T Bank Corp lowered its position in HDFC Bank Limited (NYSE:HDB) by 0.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 179,242 shares of the bank’s stock after selling 418 shares during the quarter. M&T Bank Corp’s holdings in HDFC Bank were worth $8,149,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Shine Investment Advisory Services Inc. boosted its holdings in HDFC Bank by 19.7% in the second quarter. Shine Investment Advisory Services Inc. now owns 4,535 shares of the bank’s stock worth $206,000 after purchasing an additional 746 shares in the last quarter. Mckinley Capital Management LLC Delaware boosted its stake in shares of HDFC Bank by 123.7% during the 2nd quarter. Mckinley Capital Management LLC Delaware now owns 88,799 shares of the bank’s stock worth $4,036,000 after acquiring an additional 49,105 shares in the last quarter. Calamos Wealth Management LLC increased its holdings in shares of HDFC Bank by 86.8% during the 2nd quarter. Calamos Wealth Management LLC now owns 15,381 shares of the bank’s stock valued at $699,000 after acquiring an additional 7,145 shares during the last quarter. Pelham Global Financials Ltd. bought a new position in shares of HDFC Bank in the 2nd quarter valued at approximately $9,638,000. Finally, Hardman Johnston Global Advisors LLC lifted its holdings in HDFC Bank by 2.9% in the 2nd quarter. Hardman Johnston Global Advisors LLC now owns 173,316 shares of the bank’s stock worth $7,879,000 after purchasing an additional 4,960 shares during the last quarter. 18.10% of the stock is currently owned by institutional investors.

Several equities analysts have commented on the company. Sanford C. Bernstein downgraded HDFC Bank from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 14th. Zacks Investment Research downgraded shares of HDFC Bank from a “strong-buy” rating to a “hold” rating in a report on Thursday, July 23rd. Finally, TheStreet upgraded shares of HDFC Bank from a “c+” rating to a “b” rating in a report on Tuesday, July 21st. Three equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $54.00.

Shares of NYSE HDB opened at $46.75 on Friday. The business’s 50 day moving average is $46.66 and its two-hundred day moving average is $47.09. The company has a market cap of $84.88 billion, a P/E ratio of 22.69, a P/E/G ratio of 1.40 and a beta of 0.82. HDFC Bank Limited has a 12 month low of $29.50 and a 12 month high of $65.38.

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

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