Advisors Asset Management Inc. Purchases 5,066 Shares of HDFC Bank Limited (NYSE:HDB)

Advisors Asset Management Inc. raised its holdings in shares of HDFC Bank Limited (NYSE:HDB) by 19.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 30,470 shares of the bank’s stock after acquiring an additional 5,066 shares during the quarter. Advisors Asset Management Inc.’s holdings in HDFC Bank were worth $1,906,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in HDB. Ridgewood Investments LLC bought a new position in shares of HDFC Bank during the second quarter worth $36,000. Northwest Investment Counselors LLC purchased a new position in shares of HDFC Bank during the third quarter valued at about $38,000. JFS Wealth Advisors LLC increased its holdings in shares of HDFC Bank by 70.2% in the third quarter. JFS Wealth Advisors LLC now owns 667 shares of the bank’s stock worth $42,000 after purchasing an additional 275 shares during the last quarter. GAMMA Investing LLC lifted its position in shares of 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 in the last quarter. Finally, LRI Investments LLC bought a new position in HDFC Bank during the first quarter valued at approximately $56,000. 17.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised HDFC Bank from a “sell” rating to a “hold” rating in a research note on Friday, November 8th.

HDFC Bank Price Performance

HDFC Bank stock opened at $64.50 on Monday. HDFC Bank Limited has a 52-week low of $52.16 and a 52-week high of $67.44. The company has a market cap of $163.33 billion, a price-to-earnings ratio of 19.60, a PEG ratio of 1.69 and a beta of 0.91. The firm’s fifty day moving average is $63.03 and its 200 day moving average is $61.21. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 1.34.

HDFC Bank (NYSE:HDB) last announced its quarterly earnings results on Saturday, October 19th. The bank reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.09. HDFC Bank had a net margin of 14.48% and a return on equity of 12.49%. The firm had revenue of $9.21 billion during the quarter, compared to the consensus estimate of $4.84 billion. Sell-side analysts forecast that HDFC Bank Limited will post 3.15 EPS for the current fiscal year.

HDFC Bank 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.