Cetera Investment Advisers Has $964,000 Stock Position in HDFC Bank Limited (NYSE:HDB)

Cetera Investment Advisers grew its holdings in HDFC Bank Limited (NYSE:HDB) by 2.4% during the second quarter, Holdings Channel.com reports. The firm owned 14,979 shares of the bank’s stock after acquiring an additional 358 shares during the quarter. Cetera Investment Advisers’ holdings in HDFC Bank were worth $964,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in HDB. Manning & Napier Advisors LLC bought a new position in HDFC Bank in the 2nd quarter valued at approximately $166,709,000. Mitsubishi UFJ Trust & Banking Corp grew its position in HDFC Bank by 580.7% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 805,060 shares of the bank’s stock valued at $45,079,000 after purchasing an additional 686,789 shares during the period. Deprince Race & Zollo Inc. lifted its stake in HDFC Bank by 56.3% during the 2nd quarter. Deprince Race & Zollo Inc. now owns 139,612 shares of the bank’s stock valued at $8,981,000 after acquiring an additional 50,301 shares in the last quarter. Norden Group LLC bought a new stake in shares of HDFC Bank during the 1st quarter worth $511,000. Finally, LRI Investments LLC purchased a new stake in HDFC Bank in the 1st quarter worth about $125,000. 17.61% of the stock is owned by institutional investors.

HDFC Bank Stock Down 2.3 %

HDFC Bank stock opened at $60.88 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 business’s 50-day simple moving average is $61.68 and its two-hundred day simple moving average is $60.17. The company has a market cap of $113.23 billion, a PE ratio of 18.67, a PEG ratio of 1.95 and a beta of 0.92. 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 results on Monday, July 22nd. The bank reported $0.78 earnings per share for the quarter, topping 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%. Equities analysts anticipate that HDFC Bank Limited will post 2.96 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on HDB. StockNews.com downgraded HDFC Bank from a “hold” rating to a “sell” rating in a report on Saturday, October 12th. JPMorgan Chase & Co. cut HDFC Bank from an “overweight” rating to a “neutral” rating in a research note 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.