Russell Investments Group Ltd. Increases Stock Holdings in HDFC Bank Limited $HDB

Russell Investments Group Ltd. increased its holdings in shares of HDFC Bank Limited (NYSE:HDB) by 1.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,575,947 shares of the bank’s stock after buying an additional 34,834 shares during the quarter. Russell Investments Group Ltd.’s holdings in HDFC Bank were worth $197,539,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in HDB. Avantax Advisory Services Inc. lifted its holdings in shares of HDFC Bank by 2.2% during the 1st quarter. Avantax Advisory Services Inc. now owns 62,285 shares of the bank’s stock worth $4,138,000 after acquiring an additional 1,342 shares during the period. Cetera Investment Advisers increased its position in HDFC Bank by 44.6% during the first quarter. Cetera Investment Advisers now owns 23,213 shares of the bank’s stock worth $1,542,000 after purchasing an additional 7,161 shares during the last quarter. HB Wealth Management LLC raised its stake in HDFC Bank by 110.5% during the first quarter. HB Wealth Management LLC now owns 7,680 shares of the bank’s stock worth $510,000 after purchasing an additional 4,031 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of HDFC Bank in the 1st quarter valued at $361,000. Finally, LPL Financial LLC grew its stake in shares of HDFC Bank by 20.9% during the 1st quarter. LPL Financial LLC now owns 139,961 shares of the bank’s stock valued at $9,299,000 after buying an additional 24,185 shares during the period. Hedge funds and other institutional investors own 17.61% of the company’s stock.

HDFC Bank Trading Down 0.7%

Shares of NYSE HDB opened at $36.13 on Wednesday. The stock has a fifty day moving average price of $35.76 and a 200 day moving average price of $36.74. HDFC Bank Limited has a 12-month low of $28.89 and a 12-month high of $39.81. The company has a market cap of $184.33 billion, a P/E ratio of 21.97, a P/E/G ratio of 1.92 and a beta of 0.69.

HDFC Bank (NYSE:HDB) last issued its earnings results on Saturday, October 18th. The bank reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.08. HDFC Bank had a return on equity of 11.49% and a net margin of 14.94%.The company had revenue of $8.08 billion during the quarter, compared to the consensus estimate of $4.98 billion. On average, sell-side analysts forecast that HDFC Bank Limited will post 3.03 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Weiss Ratings reaffirmed a “hold (c)” rating on shares of HDFC Bank in a research 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. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average 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.