Cutler Investment Counsel LLC Purchases New Position in HDFC Bank Limited (HDB)

Cutler Investment Counsel LLC purchased a new position in shares of HDFC Bank Limited (NYSE:HDB) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,887 shares of the bank’s stock, valued at approximately $219,000.

Several other hedge funds have also modified their holdings of HDB. Ruggie Capital Group bought a new stake in HDFC Bank during the 4th quarter valued at $25,000. Lindbrook Capital LLC bought a new stake in HDFC Bank during the 4th quarter valued at $26,000. Enlightenment Research LLC bought a new stake in HDFC Bank during the 4th quarter valued at $31,000. We Are One Seven LLC bought a new stake in HDFC Bank during the 4th quarter valued at $50,000. Finally, Trilogy Global Advisors LP raised its position in HDFC Bank by 4.0% during the 4th quarter. Trilogy Global Advisors LP now owns 683,298 shares of the bank’s stock valued at $71,000 after purchasing an additional 26,105 shares in the last quarter. 19.06% of the stock is owned by hedge funds and other institutional investors.

Separately, Zacks Investment Research lowered HDFC Bank from a “buy” rating to a “hold” rating in a research report on Thursday, January 24th.

HDB opened at $116.17 on Thursday. The firm has a market capitalization of $99.45 billion, a PE ratio of 37.35, a P/E/G ratio of 1.14 and a beta of 0.57. HDFC Bank Limited has a 12 month low of $85.43 and a 12 month high of $120.64.

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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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