HDFC Bank Limited (NYSE:HDB) Sees Large Increase in Short Interest

HDFC Bank Limited (NYSE:HDBGet Rating) was the target of a significant growth in short interest during the month of December. As of December 30th, there was short interest totalling 3,480,000 shares, a growth of 7.1% from the December 15th total of 3,250,000 shares. Based on an average daily trading volume, of 1,260,000 shares, the days-to-cover ratio is currently 2.8 days.

Institutional Investors Weigh In On HDFC Bank

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Baillie Gifford & Co. boosted its position in shares of HDFC Bank by 3.6% in the fourth quarter. Baillie Gifford & Co. now owns 3,172,945 shares of the bank’s stock valued at $217,062,000 after acquiring an additional 108,955 shares during the period. CAPROCK Group Inc. bought a new position in HDFC Bank in the 4th quarter worth about $202,000. Verdence Capital Advisors LLC raised its holdings in shares of HDFC Bank by 11.2% in the 4th quarter. Verdence Capital Advisors LLC now owns 6,968 shares of the bank’s stock valued at $477,000 after acquiring an additional 704 shares in the last quarter. Veriti Management LLC boosted its position in shares of HDFC Bank by 72.5% during the 4th quarter. Veriti Management LLC now owns 11,701 shares of the bank’s stock valued at $800,000 after acquiring an additional 4,917 shares during the last quarter. Finally, Vestmark Advisory Solutions Inc. grew its holdings in shares of HDFC Bank by 50.7% during the fourth quarter. Vestmark Advisory Solutions Inc. now owns 33,328 shares of the bank’s stock worth $2,280,000 after purchasing an additional 11,206 shares in the last quarter. 17.50% of the stock is currently owned by institutional investors.

HDFC Bank Price Performance

HDFC Bank stock opened at $71.44 on Wednesday. The firm has a market capitalization of $132.06 billion, a P/E ratio of 23.89, a PEG ratio of 1.38 and a beta of 0.80. HDFC Bank has a one year low of $50.61 and a one year high of $71.76. The company has a debt-to-equity ratio of 0.79, a current ratio of 0.36 and a quick ratio of 0.36. The business has a fifty day moving average price of $68.38 and a 200-day moving average price of $64.02.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on shares of HDFC Bank in a report on Wednesday, October 12th. They set a “hold” rating on the stock.

About HDFC Bank

(Get Rating)

HDFC Bank Ltd. engages in the provision of banking and financial services, including commercial banking and treasury operations. The firm also provides financial services to upper and middle income individuals and corporations in India. It operates through the following segments: Treasury, Retail Banking, Wholesale Banking and Other Banking Operations.

Further Reading

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