Commonwealth Equity Services LLC Grows Holdings in HDFC Bank Limited (NYSE:HDB)

Commonwealth Equity Services LLC lifted its position in shares of HDFC Bank Limited (NYSE:HDB) by 33.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,770 shares of the bank’s stock after acquiring an additional 2,185 shares during the quarter. Commonwealth Equity Services LLC’s holdings in HDFC Bank were worth $564,000 as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Janney Montgomery Scott LLC grew its holdings in HDFC Bank by 5.4% in the fourth quarter. Janney Montgomery Scott LLC now owns 12,247 shares of the bank’s stock valued at $822,000 after purchasing an additional 625 shares during the period. Quadrant Capital Group LLC increased its holdings in HDFC Bank by 45.1% in the 4th quarter. Quadrant Capital Group LLC now owns 1,560 shares of the bank’s stock worth $105,000 after acquiring an additional 485 shares in the last quarter. PNC Financial Services Group Inc. raised its position in HDFC Bank by 185.2% during the fourth quarter. PNC Financial Services Group Inc. now owns 62,169 shares of the bank’s stock worth $4,172,000 after acquiring an additional 40,369 shares during the period. Assetmark Inc. lifted its holdings in HDFC Bank by 8.9% during the fourth quarter. Assetmark Inc. now owns 23,856 shares of the bank’s stock valued at $1,601,000 after purchasing an additional 1,945 shares in the last quarter. Finally, Aigen Investment Management LP acquired a new stake in shares of HDFC Bank in the fourth quarter valued at about $270,000. 17.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

HDB has been the topic of a number of research reports. StockNews.com lowered shares of HDFC Bank from a “hold” rating to a “sell” rating in a research note on Thursday, June 13th. JPMorgan Chase & Co. lowered HDFC Bank from an “overweight” rating to a “neutral” rating in a research note on Monday, July 22nd.

HDFC Bank Price Performance

Shares of NYSE HDB opened at $65.73 on Friday. The stock has a market capitalization of $122.25 billion, a price-to-earnings ratio of 20.16, a price-to-earnings-growth ratio of 1.63 and a beta of 0.92. HDFC Bank Limited has a 52 week low of $52.16 and a 52 week high of $67.44. The firm has a 50-day simple moving average of $60.79 and a 200-day simple moving average of $59.28. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 1.37.

HDFC Bank (NYSE:HDB) last released its earnings results on Monday, July 22nd. The bank reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.27. The business had revenue of $14.03 billion for the quarter, compared to analyst estimates of $4.81 billion. HDFC Bank had a net margin of 14.69% and a return on equity of 12.64%. On average, equities analysts predict that HDFC Bank Limited will post 2.97 earnings per share for the current fiscal year.

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.