Rhumbline Advisers Raises Stock Holdings in HDFC Bank Limited $HDB

Rhumbline Advisers boosted its stake in shares of HDFC Bank Limited (NYSE:HDB) by 7.6% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 247,546 shares of the bank’s stock after acquiring an additional 17,398 shares during the quarter. Rhumbline Advisers’ holdings in HDFC Bank were worth $18,979,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Cetera Investment Advisers boosted its position in shares of HDFC Bank by 44.6% during the 1st 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 period. HB Wealth Management LLC boosted its position in shares of 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 buying an additional 4,031 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in shares of HDFC Bank during the first quarter worth $361,000. LPL Financial LLC grew its stake in shares of HDFC Bank by 20.9% in the first 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 in the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management purchased a new stake in shares of HDFC Bank in the 1st quarter valued at $205,000. 17.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

HDB has been the subject of a number of research analyst reports. Weiss Ratings restated a “hold (c)” rating on shares of HDFC Bank in a report on Wednesday, October 8th. Zacks Research raised shares of HDFC Bank from a “strong sell” rating to a “hold” rating in a research note on Monday, September 29th. Finally, Wall Street Zen cut shares of HDFC Bank from a “hold” rating to a “sell” rating in a report on Friday. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy”.

HDFC Bank Stock Up 0.5%

Shares of HDFC Bank stock opened at $36.82 on Friday. HDFC Bank Limited has a 52-week low of $28.89 and a 52-week high of $39.81. The company has a market capitalization of $187.84 billion, a P/E ratio of 22.38, a P/E/G ratio of 1.92 and a beta of 0.69. The company has a 50 day moving average of $35.82 and a 200 day moving average of $36.74.

HDFC Bank (NYSE:HDB) last announced its quarterly earnings data on Saturday, October 18th. The bank reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.36 by $0.08. The business had revenue of $8.08 billion for the quarter, compared to analyst estimates of $4.98 billion. HDFC Bank had a net margin of 14.94% and a return on equity of 11.49%. As a group, research analysts anticipate that HDFC Bank Limited will post 3.03 earnings per share for the current fiscal 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.