Raymond James Trust N.A. Buys 787 Shares of HDFC Bank Limited (NYSE:HDB)

Raymond James Trust N.A. raised its holdings in HDFC Bank Limited (NYSE:HDB) by 12.1% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,313 shares of the bank’s stock after acquiring an additional 787 shares during the period. Raymond James Trust N.A.’s holdings in HDFC Bank were worth $470,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Frazier Financial Advisors LLC bought a new stake in shares of HDFC Bank during the fourth quarter worth about $29,000. GAMMA Investing LLC bought a new stake in shares of HDFC Bank during the fourth quarter worth about $33,000. Northwest Investment Counselors LLC bought a new stake in shares of HDFC Bank during the first quarter worth about $34,000. Janiczek Wealth Management LLC bought a new stake in shares of HDFC Bank during the first quarter worth about $35,000. Finally, LRI Investments LLC bought a new stake in shares of HDFC Bank during the first quarter worth about $56,000. Institutional investors own 17.61% of the company’s stock.

HDFC Bank Price Performance

Shares of NYSE:HDB opened at $61.23 on Tuesday. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 1.37. HDFC Bank Limited has a twelve month low of $52.16 and a twelve month high of $67.44. The stock’s 50 day moving average is $61.31 and its 200-day moving average is $58.27. The firm has a market capitalization of $113.87 billion, a price-to-earnings ratio of 18.78, a PEG ratio of 1.66 and a beta of 0.92.

HDFC Bank (NYSE:HDB) last issued its earnings results on Monday, July 22nd. The bank reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.27. HDFC Bank had a return on equity of 12.64% and a net margin of 14.69%. The company had revenue of $14.03 billion for the quarter, compared to analyst estimates of $4.81 billion. Sell-side analysts forecast that HDFC Bank Limited will post 2.88 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently commented on HDB. StockNews.com lowered HDFC Bank from a “hold” rating to a “sell” rating in a research note on Thursday, June 13th. JPMorgan Chase & Co. lowered HDFC Bank from an “overweight” rating to a “neutral” rating in a research note on Monday, July 22nd.

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.