Ethic Inc. Buys 1,456 Shares of HDFC Bank Limited $HDB

Ethic Inc. increased its stake in HDFC Bank Limited (NYSE:HDB) by 2.1% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 70,389 shares of the bank’s stock after acquiring an additional 1,456 shares during the period. Ethic Inc.’s holdings in HDFC Bank were worth $5,422,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of HDB. Central Pacific Bank Trust Division purchased a new position in HDFC Bank during the 2nd quarter valued at about $29,000. Roxbury Financial LLC purchased a new position in HDFC Bank during the 2nd quarter valued at about $30,000. Larson Financial Group LLC increased its holdings in HDFC Bank by 1,217.1% during the 1st quarter. Larson Financial Group LLC now owns 461 shares of the bank’s stock valued at $31,000 after purchasing an additional 426 shares during the period. Cullen Frost Bankers Inc. increased its holdings in HDFC Bank by 448.7% during the 1st quarter. Cullen Frost Bankers Inc. now owns 620 shares of the bank’s stock valued at $41,000 after purchasing an additional 507 shares during the period. Finally, Pinnacle Bancorp Inc. increased its holdings in HDFC Bank by 109.7% during the 1st quarter. Pinnacle Bancorp Inc. now owns 847 shares of the bank’s stock valued at $56,000 after purchasing an additional 443 shares during the period. Hedge funds and other institutional investors own 17.61% of the company’s stock.

HDFC Bank Stock Performance

HDB stock opened at $36.49 on Friday. HDFC Bank Limited has a fifty-two week low of $28.89 and a fifty-two week high of $39.81. The business’s 50 day moving average price is $35.54 and its two-hundred day moving average price is $36.50. The company has a market capitalization of $186.14 billion, a price-to-earnings ratio of 22.18, a price-to-earnings-growth ratio of 1.97 and a beta of 0.63.

HDFC Bank (NYSE:HDB) last posted its earnings results on Saturday, October 18th. The bank reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.08. HDFC Bank had a return on equity of 11.07% and a net margin of 14.94%.The firm had revenue of $4.95 billion for the quarter, compared to the consensus estimate of $4.98 billion. Sell-side analysts forecast that HDFC Bank Limited will post 3.03 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently issued reports on HDB. Weiss Ratings restated a “hold (c)” rating on shares of HDFC Bank in a report on Wednesday, October 8th. Zacks Research upgraded HDFC Bank from a “strong sell” rating to a “hold” rating in a report on Monday, September 29th. Finally, Wall Street Zen upgraded HDFC Bank from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, HDFC Bank presently has a consensus rating of “Moderate Buy”.

About HDFC Bank

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.