Azimuth Capital Investment Management LLC Buys 133,147 Shares of HDFC Bank Limited $HDB

Key Points

• Azimuth Capital boosted its stake in HDFC Bank by 104.7%, buying 133,147 shares to hold 260,264 shares worth $8.89 million at the end of the quarter.
• HDFC Bank shares opened at $28.25 (near a 52‑week low of $28.05) with a market cap of $144.11 billion and a P/E of 16.97, versus a 52‑week high of $39.81.
• Analyst sentiment is mixed—Wall Street Zen upgraded to a Hold while Weiss Ratings downgraded to a Sell—and the stock's average rating is listed as Reduce, with institutional investors owning 17.61%.

Azimuth Capital Investment Management LLC boosted its stake in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 104.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 260,264 shares of the bank's stock after purchasing an additional 133,147 shares during the period. Azimuth Capital Investment Management LLC's holdings in HDFC Bank were worth $8,891,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Central Pacific Bank Trust Division lifted its position in shares of HDFC Bank by 100.0% during the 3rd quarter. Central Pacific Bank Trust Division now owns 758 shares of the bank's stock valued at $26,000 after buying an additional 379 shares in the last quarter. Parkside Financial Bank & Trust increased its holdings in HDFC Bank by 54.5% in the 3rd quarter. Parkside Financial Bank & Trust now owns 913 shares of the bank's stock worth $31,000 after acquiring an additional 322 shares in the last quarter. Accent Capital Management LLC increased its holdings in HDFC Bank by 100.0% in the 3rd quarter. Accent Capital Management LLC now owns 918 shares of the bank's stock worth $31,000 after acquiring an additional 459 shares in the last quarter. Clearstead Advisors LLC raised its stake in HDFC Bank by 476.8% during the 3rd quarter. Clearstead Advisors LLC now owns 894 shares of the bank's stock worth $31,000 after acquiring an additional 739 shares during the period. Finally, J.Safra Asset Management Corp raised its stake in HDFC Bank by 100.0% during the 3rd quarter. J.Safra Asset Management Corp now owns 1,020 shares of the bank's stock worth $35,000 after acquiring an additional 510 shares during the period. Institutional investors own 17.61% of the company's stock.

HDFC Bank Stock Down 0.5%

Shares of HDB stock opened at $28.25 on Friday. The company's fifty day simple moving average is $32.28 and its two-hundred day simple moving average is $34.55. HDFC Bank Limited has a 52 week low of $28.05 and a 52 week high of $39.81. The stock has a market cap of $144.11 billion, a P/E ratio of 16.97, a PEG ratio of 1.17 and a beta of 0.56.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on HDB shares. Wall Street Zen upgraded shares of HDFC Bank from a "sell" rating to a "hold" rating in a research report on Friday, January 23rd. Weiss Ratings downgraded shares of 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 issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Reduce".

HDFC Bank 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).

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