Financial Perspectives Inc Increases Stake in HDFC Bank Limited (NYSE:HDB)

Financial Perspectives Inc increased its stake in HDFC Bank Limited (NYSE:HDB) by 159.0% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,568 shares of the bank’s stock after buying an additional 4,646 shares during the period. Financial Perspectives Inc’s holdings in HDFC Bank were worth $487,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Breakout Capital Partners LP bought a new stake in shares of HDFC Bank during the 4th quarter valued at $18,894,000. CIBC Private Wealth Group LLC raised its position in shares of HDFC Bank by 2.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 929,921 shares of the bank’s stock worth $62,407,000 after purchasing an additional 21,265 shares during the last quarter. Manning & Napier Advisors LLC bought a new position in HDFC Bank in the 2nd quarter worth about $166,709,000. Sei Investments Co. boosted its stake in HDFC Bank by 0.8% in the 4th quarter. Sei Investments Co. now owns 1,661,176 shares of the bank’s stock worth $111,481,000 after purchasing an additional 13,610 shares in the last quarter. Finally, Alberta Investment Management Corp grew its position in HDFC Bank by 140.3% during the 4th quarter. Alberta Investment Management Corp now owns 657,660 shares of the bank’s stock valued at $44,136,000 after purchasing an additional 383,939 shares during the last quarter. 17.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

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

HDFC Bank Price Performance

NYSE HDB opened at $62.60 on Monday. HDFC Bank Limited has a one year low of $52.16 and a one year high of $67.44. The stock has a 50-day moving average of $60.48 and a 200 day moving average of $59.01. 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 company has a market capitalization of $158.52 billion, a price-to-earnings ratio of 19.20, a PEG ratio of 1.63 and a beta of 0.92.

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

HDFC Bank Company 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.