Mercer Global Advisors Inc. ADV Purchases 833 Shares of HDFC Bank Limited (NYSE:HDB)

Mercer Global Advisors Inc. ADV grew its position in shares of HDFC Bank Limited (NYSE:HDB) by 6.4% during the second quarter, HoldingsChannel reports. The institutional investor owned 13,906 shares of the bank’s stock after purchasing an additional 833 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in HDFC Bank were worth $895,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Northwest Investment Counselors LLC bought a new position in HDFC Bank in the 1st quarter valued at approximately $34,000. Janiczek Wealth Management LLC purchased a new position in shares of HDFC Bank in the first quarter worth $35,000. Ridgewood Investments LLC bought a new position in shares of HDFC Bank during the second quarter valued at $36,000. LRI Investments LLC bought a new position in shares of HDFC Bank during the first quarter valued at $56,000. Finally, GAMMA Investing LLC increased its holdings in 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 buying an additional 324 shares in the last quarter. Institutional investors own 17.61% of the company’s stock.

HDFC Bank Stock Performance

Shares of HDB opened at $66.16 on Thursday. The firm has a market capitalization of $123.05 billion, a P/E ratio of 20.29, a PEG ratio of 1.76 and a beta of 0.92. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.51 and a quick ratio of 0.51. HDFC Bank Limited has a one year low of $52.16 and a one year high of $67.44. The business has a fifty day moving average of $61.01 and a 200 day moving average of $59.48.

HDFC Bank (NYSE:HDB) last released its quarterly earnings results on Monday, July 22nd. The bank reported $0.78 earnings per share (EPS) for the quarter, beating 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 business had revenue of $14.03 billion during the quarter, compared to the consensus estimate of $4.81 billion. As a group, sell-side analysts anticipate that HDFC Bank Limited will post 2.97 EPS for the current year.

Wall Street Analyst Weigh In

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

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.