Park Avenue Securities LLC Has $1.01 Million Position in HDFC Bank Limited (NYSE:HDB)

Park Avenue Securities LLC cut its stake in shares of HDFC Bank Limited (NYSE:HDB) by 2.6% in the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,154 shares of the bank’s stock after selling 428 shares during the quarter. Park Avenue Securities LLC’s holdings in HDFC Bank were worth $1,011,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Capital World Investors boosted its position in HDFC Bank by 208.6% in the first quarter. Capital World Investors now owns 4,124,751 shares of the bank’s stock valued at $230,862,000 after buying an additional 2,788,197 shares in the last quarter. Manning & Napier Advisors LLC bought a new stake in HDFC Bank during the 2nd quarter worth approximately $166,709,000. PineStone Asset Management Inc. increased its holdings in HDFC Bank by 115.1% during the 2nd quarter. PineStone Asset Management Inc. now owns 4,468,960 shares of the bank’s stock valued at $287,488,000 after purchasing an additional 2,391,343 shares in the last quarter. Harding Loevner LP raised its position in HDFC Bank by 31.7% in the 4th quarter. Harding Loevner LP now owns 9,456,666 shares of the bank’s stock valued at $621,646,000 after purchasing an additional 2,276,203 shares during the last quarter. Finally, CCLA Investment Management boosted its stake in HDFC Bank by 100,691.5% in the first quarter. CCLA Investment Management now owns 1,748,733 shares of the bank’s stock worth $97,534,000 after purchasing an additional 1,746,998 shares in the last quarter. Institutional investors own 17.61% of the company’s stock.

HDFC Bank Stock Up 1.6 %

NYSE:HDB opened at $60.38 on Wednesday. The company has a market cap of $112.30 billion, a price-to-earnings ratio of 18.52, a P/E/G ratio of 1.76 and a beta of 0.92. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.51 and a current ratio of 0.51. The stock’s fifty day moving average price is $61.46 and its two-hundred day moving average price is $59.91. HDFC Bank Limited has a 52-week low of $52.16 and a 52-week high of $67.44.

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

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on HDB. StockNews.com upgraded HDFC Bank from a “sell” rating to a “hold” rating in a research note on Friday, October 4th. JPMorgan Chase & Co. downgraded shares of HDFC Bank from an “overweight” rating to a “neutral” rating in a research note on Monday, July 22nd.

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.