18,335 Shares in HDFC Bank Limited (NYSE:HDB) Purchased by Choreo LLC

Choreo LLC bought a new stake in HDFC Bank Limited (NYSE:HDB) in the second quarter, Holdings Channel reports. The fund bought 18,335 shares of the bank’s stock, valued at approximately $1,175,000.

Several other large investors have also recently bought and sold shares of HDB. Frazier Financial Advisors LLC acquired a new stake in shares of HDFC Bank in the fourth quarter valued at $29,000. Ridgewood Investments LLC bought a new stake in HDFC Bank in the second quarter worth about $36,000. Northwest Investment Counselors LLC acquired a new stake in HDFC Bank in the 1st quarter valued at about $34,000. Janiczek Wealth Management LLC bought a new position in shares of HDFC Bank during the 1st quarter valued at about $35,000. Finally, GAMMA Investing LLC grew its stake in shares of HDFC Bank by 56.0% in the 2nd quarter. GAMMA Investing LLC now owns 903 shares of the bank’s stock worth $58,000 after purchasing an additional 324 shares during the last quarter. Institutional investors and hedge funds own 17.61% of the company’s stock.

HDFC Bank Price Performance

NYSE HDB opened at $62.48 on Friday. HDFC Bank Limited has a 1 year low of $52.16 and a 1 year high of $67.44. The stock’s 50-day moving average price is $60.47 and its two-hundred day moving average price is $58.88. The company has a market cap of $116.21 billion, a PE ratio of 19.17, a PEG ratio of 1.61 and a beta of 0.92. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 1.37.

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

Analysts Set New Price Targets

Several analysts recently commented on the stock. StockNews.com lowered shares of 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 report 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.