ARP Global Capital Ltd Purchases Shares of 256,270 HDFC Bank Limited $HDB

ARP Global Capital Ltd acquired a new position in HDFC Bank Limited (NYSE:HDB) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 256,270 shares of the bank’s stock, valued at approximately $9,364,000. HDFC Bank comprises 2.8% of ARP Global Capital Ltd’s portfolio, making the stock its 15th biggest holding.

Several other institutional investors have also recently added to or reduced their stakes in HDB. Central Pacific Bank Trust Division grew its position in HDFC Bank by 100.0% in the 3rd quarter. Central Pacific Bank Trust Division now owns 758 shares of the bank’s stock valued at $26,000 after acquiring an additional 379 shares in the last quarter. Larson Financial Group LLC boosted its position in HDFC Bank by 90.4% in the 3rd quarter. Larson Financial Group LLC now owns 849 shares of the bank’s stock valued at $29,000 after buying an additional 403 shares during the period. Parkside Financial Bank & Trust raised its stake in shares of HDFC Bank by 54.5% in the third quarter. Parkside Financial Bank & Trust now owns 913 shares of the bank’s stock valued at $31,000 after acquiring an additional 322 shares in the last quarter. Accent Capital Management LLC boosted its holdings in HDFC Bank by 100.0% in the third quarter. Accent Capital Management LLC now owns 918 shares of the bank’s stock valued at $31,000 after purchasing an additional 459 shares during the period. Finally, Clearstead Advisors LLC boosted its holdings in HDFC Bank by 476.8% in the third quarter. Clearstead Advisors LLC now owns 894 shares of the bank’s stock valued at $31,000 after purchasing an additional 739 shares during the period. Institutional investors and hedge funds own 17.61% of the company’s stock.

Analysts Set New Price Targets

HDB has been the topic of several recent research reports. Wall Street Zen upgraded HDFC Bank from a “sell” rating to a “hold” rating in a report on Friday, January 23rd. Weiss Ratings downgraded HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, March 6th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Reduce”.

HDFC Bank Stock Down 0.5%

Shares of NYSE HDB opened at $28.25 on Friday. The business has a 50-day moving average price of $32.28 and a 200 day moving average price of $34.56. The stock has a market cap of $144.11 billion, a PE ratio of 16.97, a price-to-earnings-growth ratio of 1.18 and a beta of 0.56. HDFC Bank Limited has a 52-week low of $28.05 and a 52-week high of $39.81.

HDFC Bank Company Profile

HDFC Bank Limited is one of India’s leading private sector banks, headquartered in Mumbai. Incorporated in 1994 and promoted by Housing Development Finance Corporation (HDFC), the bank provides a full range of banking and financial services to retail, small and medium-sized enterprises, and corporate customers. It is publicly listed and also accessible to international investors through American Depositary Receipts (ADRs) trading on the New York Stock Exchange under the symbol HDB.

The bank’s core activities include retail banking (deposit accounts, personal loans, home loans, auto loans, and credit cards), commercial and corporate banking (working capital finance, term lending, trade finance and treasury services), and transaction banking (cash management and payment solutions).