Prime Capital Investment Advisors LLC Raises Stake in HDFC Bank Limited (NYSE:HDB)

Prime Capital Investment Advisors LLC boosted its holdings in HDFC Bank Limited (NYSE:HDB) by 3.7% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 25,268 shares of the bank’s stock after purchasing an additional 897 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in HDFC Bank were worth $1,626,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. MayTech Global Investments LLC increased its stake in HDFC Bank by 3.3% during the 2nd quarter. MayTech Global Investments LLC now owns 135,732 shares of the bank’s stock valued at $8,732,000 after purchasing an additional 4,307 shares in the last quarter. Diamond Hill Capital Management Inc. grew its holdings in shares of HDFC Bank by 21.5% in the second quarter. Diamond Hill Capital Management Inc. now owns 67,301 shares of the bank’s stock worth $4,329,000 after acquiring an additional 11,912 shares during the period. Envestnet Asset Management Inc. increased its position in HDFC Bank by 9.4% during the second quarter. Envestnet Asset Management Inc. now owns 957,693 shares of the bank’s stock valued at $61,608,000 after acquiring an additional 82,566 shares during the last quarter. Oppenheimer Asset Management Inc. boosted its position in HDFC Bank by 33.9% in the second quarter. Oppenheimer Asset Management Inc. now owns 195,254 shares of the bank’s stock worth $12,561,000 after purchasing an additional 49,431 shares during the last quarter. Finally, William Blair Investment Management LLC grew its stake in shares of HDFC Bank by 3.7% during the 2nd quarter. William Blair Investment Management LLC now owns 2,502,917 shares of the bank’s stock valued at $161,018,000 after purchasing an additional 88,635 shares during the period. Institutional investors own 17.61% of the company’s stock.

HDFC Bank Stock Up 0.2 %

HDB stock opened at $62.98 on Wednesday. The business’s 50-day moving average price is $60.54 and its 200-day moving average price is $59.14. The stock has a market cap of $117.13 billion, a P/E ratio of 19.32, a PEG ratio of 1.63 and a beta of 0.92. HDFC Bank Limited has a twelve month low of $52.16 and a twelve month high of $67.44. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 1.37.

HDFC Bank (NYSE:HDB) last posted 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 business had revenue of $14.03 billion during the quarter, compared to analyst estimates of $4.81 billion. HDFC Bank had a net margin of 14.69% and a return on equity of 12.64%. On average, equities research analysts forecast that HDFC Bank Limited will post 2.97 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts 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 research report on Monday, July 22nd.

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.