NewEdge Wealth LLC Decreases Stake in HDFC Bank Limited (NYSE:HDB)

NewEdge Wealth LLC cut its holdings in shares of HDFC Bank Limited (NYSE:HDB) by 15.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,908 shares of the bank’s stock after selling 4,548 shares during the period. NewEdge Wealth LLC’s holdings in HDFC Bank were worth $1,591,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Advisor OS LLC raised its stake in HDFC Bank by 16.4% during the 4th quarter. Advisor OS LLC now owns 6,315 shares of the bank’s stock valued at $403,000 after buying an additional 891 shares during the last quarter. Todd Asset Management LLC grew its holdings in shares of HDFC Bank by 0.6% in the fourth quarter. Todd Asset Management LLC now owns 419,173 shares of the bank’s stock worth $26,768,000 after acquiring an additional 2,305 shares during the period. Wealthstream Advisors Inc. increased its position in HDFC Bank by 10.9% during the fourth quarter. Wealthstream Advisors Inc. now owns 4,345 shares of the bank’s stock valued at $277,000 after acquiring an additional 427 shares during the last quarter. Crestwood Advisors Group LLC bought a new position in HDFC Bank in the fourth quarter valued at about $258,000. Finally, IFP Advisors Inc boosted its position in HDFC Bank by 2,310.1% in the fourth quarter. IFP Advisors Inc now owns 5,013 shares of the bank’s stock worth $320,000 after purchasing an additional 4,805 shares during the last quarter. 17.61% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have recently commented on HDB. Nomura Securities raised shares of HDFC Bank from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 23rd. StockNews.com cut shares of HDFC Bank from a “hold” rating to a “sell” rating in a report on Wednesday, November 27th. Finally, Nomura upgraded shares of HDFC Bank from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd.

HDFC Bank Stock Performance

Shares of HDB opened at $61.63 on Friday. The business has a 50-day simple moving average of $60.89 and a two-hundred day simple moving average of $62.44. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 1.26. HDFC Bank Limited has a 52 week low of $53.19 and a 52 week high of $68.50. The stock has a market cap of $156.07 billion, a price-to-earnings ratio of 18.73, a PEG ratio of 2.12 and a beta of 0.91.

HDFC Bank (NYSE:HDB) last released its earnings results on Wednesday, January 22nd. The bank reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.08. HDFC Bank had a net margin of 14.64% and a return on equity of 12.19%. On average, analysts expect that HDFC Bank Limited will post 3.03 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.