Stiles Financial Services Inc Reduces Stake in HDFC Bank Limited (NYSE:HDB)

Stiles Financial Services Inc lessened its stake in shares of HDFC Bank Limited (NYSE:HDB) by 30.9% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,374 shares of the bank’s stock after selling 1,952 shares during the period. Stiles Financial Services Inc’s holdings in HDFC Bank were worth $281,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of HDB. Frazier Financial Advisors LLC purchased a new position in HDFC Bank during the fourth quarter worth about $29,000. GAMMA Investing LLC acquired a new position in HDFC Bank in the fourth quarter valued at approximately $33,000. Northwest Investment Counselors LLC purchased a new position in HDFC Bank in the first quarter worth approximately $34,000. Janiczek Wealth Management LLC acquired a new stake in HDFC Bank during the first quarter worth $35,000. Finally, Ridgewood Investments LLC purchased a new stake in HDFC Bank in the second quarter valued at $36,000. Institutional investors and hedge funds own 17.61% of the company’s stock.

Analysts Set New Price Targets

HDB has been the subject of a number of research analyst reports. JPMorgan Chase & Co. cut HDFC Bank from an “overweight” rating to a “neutral” rating in a report on Monday, July 22nd. StockNews.com lowered shares of HDFC Bank from a “hold” rating to a “sell” rating in a research note on Thursday, June 13th.

HDFC Bank Trading Up 0.2 %

HDB opened at $61.11 on Tuesday. HDFC Bank Limited has a 52 week low of $52.16 and a 52 week high of $67.44. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 1.37. The business has a fifty day simple moving average of $61.14 and a 200-day simple moving average of $58.54. The firm has a market cap of $113.66 billion, a P/E ratio of 18.75, a P/E/G ratio of 1.62 and a beta of 0.92.

HDFC Bank (NYSE:HDB) last announced its earnings results on Monday, July 22nd. The bank reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.51 by $0.27. The company had revenue of $14.03 billion during the quarter, compared to analysts’ expectations of $4.81 billion. HDFC Bank had a return on equity of 12.64% and a net margin of 14.69%. On average, equities analysts expect that HDFC Bank Limited will post 2.98 earnings per share for the current year.

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.