Verdence Capital Advisors LLC Has $659,000 Position in HDFC Bank Limited (NYSE:HDB)

Verdence Capital Advisors LLC grew its stake in shares of HDFC Bank Limited (NYSE:HDB) by 2.6% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 9,816 shares of the bank’s stock after acquiring an additional 253 shares during the period. Verdence Capital Advisors LLC’s holdings in HDFC Bank were worth $659,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Ninety One SA PTY Ltd grew its position in HDFC Bank by 27.1% in the fourth quarter. Ninety One SA PTY Ltd now owns 148,712 shares of the bank’s stock worth $9,980,000 after acquiring an additional 31,692 shares in the last quarter. Ninety One North America Inc. increased its position in HDFC Bank by 12.2% during the fourth quarter. Ninety One North America Inc. now owns 137,978 shares of the bank’s stock worth $9,260,000 after buying an additional 14,965 shares during the last quarter. Flossbach Von Storch AG raised its holdings in HDFC Bank by 17.4% during the fourth quarter. Flossbach Von Storch AG now owns 961,915 shares of the bank’s stock valued at $64,554,000 after buying an additional 142,445 shares in the last quarter. Daiwa Securities Group Inc. acquired a new stake in shares of HDFC Bank in the fourth quarter worth about $136,000. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its stake in shares of HDFC Bank by 58.1% during the 4th quarter. Migdal Insurance & Financial Holdings Ltd. now owns 16,424 shares of the bank’s stock worth $1,104,000 after acquiring an additional 6,036 shares in the last quarter. 17.61% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded HDFC Bank from a “hold” rating to a “sell” rating in a research note on Monday.

HDFC Bank Trading Down 1.3 %

Shares of NYSE:HDB opened at $58.29 on Tuesday. The company has a debt-to-equity ratio of 1.78, a quick ratio of 0.52 and a current ratio of 0.52. The stock’s 50-day moving average is $55.79 and its 200-day moving average is $58.58. The company has a market cap of $108.41 billion, a P/E ratio of 17.99, a P/E/G ratio of 1.46 and a beta of 0.87. HDFC Bank Limited has a 52-week low of $52.16 and a 52-week high of $71.39.

HDFC Bank Profile

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.