Parallel Advisors LLC Acquires 7,019 Shares of HDFC Bank Limited (NYSE:HDB)

Parallel Advisors LLC grew its holdings in shares of HDFC Bank Limited (NYSE:HDB) by 325.6% in the second quarter, Holdings Channel.com reports. The firm owned 9,175 shares of the bank’s stock after buying an additional 7,019 shares during the period. Parallel Advisors LLC’s holdings in HDFC Bank were worth $590,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Frazier Financial Advisors LLC bought a new position in HDFC Bank during the fourth quarter worth about $29,000. Ridgewood Investments LLC purchased a new stake in shares of HDFC Bank in the second quarter worth about $36,000. Northwest Investment Counselors LLC purchased a new stake in shares of HDFC Bank in the first quarter worth about $34,000. Janiczek Wealth Management LLC purchased a new stake in shares of HDFC Bank in the first quarter worth about $35,000. Finally, GAMMA Investing LLC lifted its holdings 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. Institutional investors own 17.61% of the company’s stock.

Analyst Upgrades and Downgrades

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

HDFC Bank Trading Up 0.2 %

Shares of HDB opened at $62.98 on Wednesday. The firm’s 50 day simple moving average is $60.54 and its 200 day simple moving average is $59.14. The company has a market capitalization of $117.13 billion, a P/E ratio of 19.32, a P/E/G ratio of 1.63 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 1-year low of $52.16 and a 1-year high of $67.44.

HDFC Bank (NYSE:HDB) last announced its earnings results on Monday, July 22nd. The bank reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.51 by $0.27. The business had revenue of $14.03 billion for the quarter, compared to the consensus estimate of $4.81 billion. HDFC Bank had a net margin of 14.69% and a return on equity of 12.64%. Sell-side analysts forecast that HDFC Bank Limited will post 2.97 earnings per share for the current fiscal year.

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.