Sumitomo Mitsui Trust Holdings Inc. lowered its stake in shares of HDFC Bank Limited (NYSE:HDB) by 0.8% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 525,226 shares of the bank’s stock after selling 4,184 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.06% of HDFC Bank worth $68,300,000 as of its most recent SEC filing.
Other hedge funds also recently added to or reduced their stakes in the company. American Beacon Advisors Inc. boosted its stake in HDFC Bank by 67.8% during the 1st quarter. American Beacon Advisors Inc. now owns 292 shares of the bank’s stock valued at $34,000 after purchasing an additional 118 shares during the last quarter. Lindbrook Capital LLC boosted its stake in HDFC Bank by 40.9% during the 1st quarter. Lindbrook Capital LLC now owns 355 shares of the bank’s stock valued at $41,000 after purchasing an additional 103 shares during the last quarter. Manchester Financial Inc. acquired a new position in HDFC Bank during the 2nd quarter valued at about $51,000. West Oak Capital LLC acquired a new position in HDFC Bank during the 2nd quarter valued at about $72,000. Finally, Valeo Financial Advisors LLC acquired a new position in HDFC Bank during the 2nd quarter valued at about $106,000. Institutional investors and hedge funds own 19.27% of the company’s stock.
HDB has been the topic of a number of research analyst reports. Nomura downgraded HDFC Bank from a “buy” rating to a “neutral” rating and set a $128.63 target price on the stock. in a research note on Tuesday, June 11th. Zacks Investment Research downgraded HDFC Bank from a “buy” rating to a “hold” rating in a research note on Wednesday, July 24th.
HDFC Bank 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.
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