International Assets Investment Management LLC Invests $27.63 Million in HDFC Bank Limited (NYSE:HDB)

International Assets Investment Management LLC purchased a new stake in HDFC Bank Limited (NYSE:HDB) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 44,167 shares of the bank’s stock, valued at approximately $27,630,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Ridgewood Investments LLC acquired a new position in shares of HDFC Bank in the 2nd quarter valued at $36,000. Northwest Investment Counselors LLC acquired a new position in HDFC Bank in the third quarter valued at $38,000. LRI Investments LLC purchased a new position in shares of HDFC Bank during the first quarter worth about $56,000. GAMMA Investing LLC increased its position in shares of HDFC Bank by 56.0% during the second quarter. GAMMA Investing LLC now owns 903 shares of the bank’s stock worth $58,000 after purchasing an additional 324 shares in the last quarter. Finally, Boit C F David purchased a new stake in shares of HDFC Bank in the 2nd quarter valued at about $100,000. 17.61% of the stock is currently owned by hedge funds and other institutional investors.

HDFC Bank Stock Up 1.3 %

HDB opened at $64.50 on Tuesday. The business has a 50 day moving average price of $62.18 and a two-hundred day moving average price of $60.46. HDFC Bank Limited has a 52 week low of $52.16 and a 52 week high of $67.44. The company has a market cap of $119.96 billion, a PE ratio of 19.79, a P/E/G ratio of 1.65 and a beta of 0.92. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 1.37.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on HDB. JPMorgan Chase & Co. lowered shares of HDFC Bank from an “overweight” rating to a “neutral” rating in a research report on Monday, July 22nd. StockNews.com downgraded shares of HDFC Bank from a “hold” rating to a “sell” rating in a research report on Saturday, October 12th.

About HDFC Bank

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.