Journey Strategic Wealth LLC Takes Position in HDFC Bank Limited $HDB

Journey Strategic Wealth LLC purchased a new position in shares of HDFC Bank Limited (NYSE:HDB) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 2,992 shares of the bank’s stock, valued at approximately $229,000.

A number of other institutional investors and hedge funds have also bought and sold shares of HDB. Central Pacific Bank Trust Division acquired a new position in HDFC Bank during the 2nd quarter worth about $29,000. Roxbury Financial LLC acquired a new stake in shares of HDFC Bank in the second quarter valued at about $30,000. Whipplewood Advisors LLC raised its position in shares of HDFC Bank by 112.0% during the second quarter. Whipplewood Advisors LLC now owns 549 shares of the bank’s stock worth $42,000 after acquiring an additional 290 shares during the last quarter. NewSquare Capital LLC raised its position in shares of HDFC Bank by 136.4% during the second quarter. NewSquare Capital LLC now owns 676 shares of the bank’s stock worth $52,000 after acquiring an additional 390 shares during the last quarter. Finally, Assetmark Inc. lifted its stake in shares of HDFC Bank by 358.4% in the second quarter. Assetmark Inc. now owns 706 shares of the bank’s stock worth $54,000 after acquiring an additional 552 shares during the period. 17.61% of the stock is currently owned by institutional investors and hedge funds.

HDFC Bank Stock Down 0.7%

NYSE:HDB opened at $36.41 on Tuesday. HDFC Bank Limited has a twelve month low of $28.89 and a twelve month high of $39.81. The company has a fifty day moving average of $35.74 and a 200-day moving average of $36.73. The firm has a market capitalization of $185.74 billion, a P/E ratio of 22.13, a P/E/G ratio of 1.92 and a beta of 0.69.

HDFC Bank (NYSE:HDB) last posted its quarterly earnings results on Saturday, October 18th. The bank reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.36 by $0.08. HDFC Bank had a net margin of 14.94% and a return on equity of 11.49%. The business had revenue of $4.95 billion during the quarter, compared to analysts’ expectations of $4.98 billion. On average, analysts anticipate that HDFC Bank Limited will post 3.03 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on HDB. Weiss Ratings reissued a “hold (c)” rating on shares of HDFC Bank in a research 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. One equities research 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’s stock. Based on 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.