Park Avenue Securities LLC Grows Holdings in HDFC Bank Limited (HDB)

Park Avenue Securities LLC boosted its holdings in shares of HDFC Bank Limited (NYSE:HDB) by 13.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 5,056 shares of the bank’s stock after buying an additional 583 shares during the period. Park Avenue Securities LLC’s holdings in HDFC Bank were worth $583,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in HDB. Ruggie Capital Group purchased a new stake in shares of HDFC Bank in the fourth quarter valued at about $25,000. Lindbrook Capital LLC purchased a new stake in shares of HDFC Bank in the fourth quarter valued at about $26,000. Enlightenment Research LLC purchased a new stake in shares of HDFC Bank in the fourth quarter valued at about $31,000. Moody National Bank Trust Division purchased a new stake in shares of HDFC Bank in the fourth quarter valued at about $39,000. Finally, We Are One Seven LLC purchased a new stake in shares of HDFC Bank in the fourth quarter valued at about $50,000. Hedge funds and other institutional investors own 19.14% of the company’s stock.

NYSE HDB traded down $1.42 during trading hours on Wednesday, reaching $115.94. 1,977 shares of the company were exchanged, compared to its average volume of 664,020. HDFC Bank Limited has a 1 year low of $85.43 and a 1 year high of $120.64. The company has a market capitalization of $101.29 billion, a PE ratio of 37.26, a price-to-earnings-growth ratio of 1.19 and a beta of 0.57.

Separately, Zacks Investment Research upgraded shares of HDFC Bank from a “hold” rating to a “strong-buy” rating and set a $133.00 price objective for the company in a report on Wednesday, April 17th.

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HDFC Bank Company Profile

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.

Read More: How can you know how many shares are floating?

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

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