HDFC Bank Limited (NYSE:HDB) Holdings Lifted by Ritholtz Wealth Management

Ritholtz Wealth Management increased its holdings in HDFC Bank Limited (NYSE:HDB) by 38.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,532 shares of the bank’s stock after acquiring an additional 3,210 shares during the period. Ritholtz Wealth Management’s holdings in HDFC Bank were worth $721,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Manning & Napier Advisors LLC purchased a new stake in shares of HDFC Bank in the second quarter worth approximately $166,709,000. Goldman Sachs Group Inc. lifted its position in HDFC Bank by 97.3% in the 4th quarter. Goldman Sachs Group Inc. now owns 854,985 shares of the bank’s stock worth $57,378,000 after buying an additional 421,740 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of HDFC Bank by 580.7% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 805,060 shares of the bank’s stock valued at $45,079,000 after buying an additional 686,789 shares during the period. Deprince Race & Zollo Inc. grew its holdings in shares of 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. Finally, Norden Group LLC acquired a new position in shares of HDFC Bank in the first quarter worth $511,000. 17.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

HDB has been the subject of a number of research reports. JPMorgan Chase & Co. cut HDFC Bank from an “overweight” rating to a “neutral” rating in a research report on Monday, July 22nd. StockNews.com downgraded HDFC Bank from a “hold” rating to a “sell” rating in a research note on Saturday.

HDFC Bank Stock Performance

Shares of HDB opened at $61.41 on Wednesday. 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 Limited has a 12 month low of $52.16 and a 12 month high of $67.44. The company’s fifty day moving average is $61.61 and its 200-day moving average is $60.15. The firm has a market cap of $114.21 billion, a price-to-earnings ratio of 18.84, a price-to-earnings-growth ratio of 1.95 and a beta of 0.92.

HDFC Bank (NYSE:HDB) last issued its quarterly earnings data 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. 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 for the quarter, compared to the consensus estimate of $4.81 billion. Equities analysts expect that HDFC Bank Limited will post 2.96 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.