Landsberg Bennett & Dubbaneh LLC bought a new stake in shares of HDFC Bank Limited (NYSE:HDB) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 25,118 shares of the bank’s stock, valued at approximately $1,463,000.
A number of other hedge funds have also made changes to their positions in the business. Baldwin Brothers Inc. MA purchased a new stake in HDFC Bank during the third quarter valued at approximately $232,000. Dubuque Bank & Trust Co. increased its holdings in HDFC Bank by 72.5% during the third quarter. Dubuque Bank & Trust Co. now owns 33,376 shares of the bank’s stock valued at $1,904,000 after buying an additional 14,029 shares during the last quarter. Altfest L J & Co. Inc. purchased a new stake in HDFC Bank during the third quarter valued at approximately $474,000. Hexavest Inc. increased its holdings in HDFC Bank by 879.2% during the third quarter. Hexavest Inc. now owns 25,645 shares of the bank’s stock valued at $1,463,000 after buying an additional 23,026 shares during the last quarter. Finally, Crossmark Global Holdings Inc. increased its holdings in HDFC Bank by 100.1% during the third quarter. Crossmark Global Holdings Inc. now owns 52,084 shares of the bank’s stock valued at $2,971,000 after buying an additional 26,052 shares during the last quarter. 9.18% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have weighed in on HDB shares. Sanford C. Bernstein lowered shares of HDFC Bank from an “outperform” rating to a “market perform” rating in a research report on Monday, September 9th. Zacks Investment Research lowered shares of HDFC Bank from a “buy” rating to a “hold” rating in a research report on Thursday, October 3rd.
Shares of HDB traded down $0.38 during mid-day trading on Friday, reaching $56.04. The stock had a trading volume of 41,170 shares, compared to its average volume of 2,637,831. The firm has a market cap of $102.43 billion, a price-to-earnings ratio of 33.90, a PEG ratio of 1.12 and a beta of 0.43. HDFC Bank Limited has a 12 month low of $42.72 and a 12 month high of $65.89. The business has a fifty day moving average of $91.98 and a 200 day moving average of $112.73. The company has a debt-to-equity ratio of 0.64, a quick ratio of 0.96 and a current ratio of 0.96.
HDFC Bank (NYSE:HDB) last posted its quarterly earnings results on Saturday, July 20th. The bank reported $0.87 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.90 by ($0.03). The firm had revenue of $4.65 billion during the quarter. HDFC Bank had a return on equity of 13.23% and a net margin of 17.98%. On average, research analysts forecast that HDFC Bank Limited will post 2.06 EPS for the current fiscal year.
About HDFC Bank
HDFC Bank Limited provides a range of banking and financial services to individuals and businesses in India, Bahrain, Hong Kong, and Dubai. The company operates in Treasury, Retail Banking, Wholesale Banking, and Other Banking Business segments. It accepts savings accounts, salary accounts, current accounts, fixed and recurring deposits, demat accounts, safe deposit lockers, and rural accounts, as well as offshore accounts and deposits.
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