HDFC Bank Limited (NYSE:HDB) Shares Purchased by AGF Management Ltd.

AGF Management Ltd. boosted its stake in HDFC Bank Limited (NYSE:HDB) by 61.5% in the 2nd quarter, Holdings Channel reports. The firm owned 235,208 shares of the bank’s stock after buying an additional 89,594 shares during the quarter. AGF Management Ltd.’s holdings in HDFC Bank were worth $15,131,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Frazier Financial Advisors LLC acquired a new stake in HDFC Bank in the 4th quarter valued at $29,000. Northwest Investment Counselors LLC acquired a new stake in HDFC Bank in the 1st quarter valued at $34,000. Janiczek Wealth Management LLC acquired a new stake in HDFC Bank in the 1st quarter valued at $35,000. Ridgewood Investments LLC acquired a new stake in shares of HDFC Bank during the second quarter valued at about $36,000. Finally, LRI Investments LLC acquired a new stake in shares of HDFC Bank during the first quarter valued at about $56,000. 17.61% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on HDB. StockNews.com downgraded HDFC Bank from a “hold” rating to a “sell” rating in a research note on Thursday, June 13th. JPMorgan Chase & Co. downgraded HDFC Bank from an “overweight” rating to a “neutral” rating in a research note on Monday, July 22nd.

HDFC Bank Stock Up 0.2 %

NYSE:HDB opened at $61.17 on Thursday. The company has a market capitalization of $113.77 billion, a price-to-earnings ratio of 18.76, a price-to-earnings-growth ratio of 1.61 and a beta of 0.92. HDFC Bank Limited has a one year low of $52.16 and a one year high of $67.44. The stock has a 50-day simple moving average of $60.55 and a 200 day simple moving average of $58.85. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.51 and a current ratio of 0.51.

HDFC Bank (NYSE:HDB) last posted its quarterly earnings results on Monday, July 22nd. The bank reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.27. The business had revenue of $14.03 billion during the quarter, compared to the consensus estimate of $4.81 billion. HDFC Bank had a return on equity of 12.64% and a net margin of 14.69%. Sell-side analysts predict that HDFC Bank Limited will post 2.97 EPS for the current fiscal 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.