HBK Sorce Advisory LLC Acquires 1,724 Shares of HDFC Bank Limited (NYSE:HDB)

HBK Sorce Advisory LLC lifted its stake in HDFC Bank Limited (NYSE:HDB) by 39.5% during the second quarter, HoldingsChannel.com reports. The firm owned 6,088 shares of the bank’s stock after purchasing an additional 1,724 shares during the quarter. HBK Sorce Advisory LLC’s holdings in HDFC Bank were worth $392,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in HDB. Envestnet Portfolio Solutions Inc. boosted its holdings in HDFC Bank by 0.8% in the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 22,404 shares of the bank’s stock worth $1,504,000 after acquiring an additional 183 shares in the last quarter. Private Advisor Group LLC boosted its stake in HDFC Bank by 2.3% in the 4th quarter. Private Advisor Group LLC now owns 9,853 shares of the bank’s stock worth $661,000 after purchasing an additional 218 shares in the last quarter. UMB Bank n.a. grew its position in HDFC Bank by 5.4% during the 2nd quarter. UMB Bank n.a. now owns 4,831 shares of the bank’s stock valued at $311,000 after purchasing an additional 248 shares during the last quarter. Endowment Wealth Management Inc. increased its stake in HDFC Bank by 6.5% during the 1st quarter. Endowment Wealth Management Inc. now owns 4,438 shares of the bank’s stock valued at $248,000 after purchasing an additional 272 shares in the last quarter. Finally, GAMMA Investing LLC raised its holdings in HDFC Bank by 56.0% in the second quarter. GAMMA Investing LLC now owns 903 shares of the bank’s stock worth $58,000 after buying an additional 324 shares during the last quarter. Hedge funds and other institutional investors own 17.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. JPMorgan Chase & Co. cut shares of HDFC Bank from an “overweight” rating to a “neutral” rating in a report on Monday, July 22nd. StockNews.com downgraded HDFC Bank from a “hold” rating to a “sell” rating in a research note on Thursday, June 13th.

HDFC Bank Price Performance

Shares of NYSE:HDB opened at $62.60 on Friday. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.51 and a current ratio of 0.51. The firm has a market cap of $158.52 billion, a price-to-earnings ratio of 19.20, a price-to-earnings-growth ratio of 1.63 and a beta of 0.92. The business has a 50-day simple moving average of $60.48 and a two-hundred day simple moving average of $58.97. HDFC Bank Limited has a fifty-two week low of $52.16 and a fifty-two week high of $67.44.

HDFC Bank (NYSE:HDB) last released its quarterly earnings data on Monday, July 22nd. The bank reported $0.78 earnings per share 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 firm had revenue of $14.03 billion during the quarter, compared to analysts’ expectations of $4.81 billion. On average, analysts expect that HDFC Bank Limited will post 2.97 earnings per share for the current year.

HDFC Bank Company Profile

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.