Northwest Investment Counselors LLC Invests $38,000 in HDFC Bank Limited (NYSE:HDB)

Northwest Investment Counselors LLC acquired a new position in HDFC Bank Limited (NYSE:HDB) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 600 shares of the bank’s stock, valued at approximately $38,000.

Several other institutional investors have also recently modified their holdings of the company. Capital World Investors grew its holdings in HDFC Bank by 208.6% during the first quarter. Capital World Investors now owns 4,124,751 shares of the bank’s stock worth $230,862,000 after acquiring an additional 2,788,197 shares during the period. Manning & Napier Advisors LLC acquired a new stake in HDFC Bank during the second quarter worth about $166,709,000. PineStone Asset Management Inc. grew its holdings in HDFC Bank by 115.1% during the second quarter. PineStone Asset Management Inc. now owns 4,468,960 shares of the bank’s stock worth $287,488,000 after acquiring an additional 2,391,343 shares during the period. CCLA Investment Management grew its holdings in HDFC Bank by 100,691.5% during the first quarter. CCLA Investment Management now owns 1,748,733 shares of the bank’s stock worth $97,534,000 after acquiring an additional 1,746,998 shares during the period. Finally, Sustainable Growth Advisers LP grew its holdings in HDFC Bank by 24.1% during the first quarter. Sustainable Growth Advisers LP now owns 8,824,089 shares of the bank’s stock worth $493,884,000 after acquiring an additional 1,711,784 shares during the period. 17.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

HDB has been the topic of several analyst reports. JPMorgan Chase & Co. lowered HDFC Bank from an “overweight” rating to a “neutral” rating in a report on Monday, July 22nd. StockNews.com cut HDFC Bank from a “hold” rating to a “sell” rating in a research report on Saturday, October 12th.

HDFC Bank Stock Down 0.6 %

HDFC Bank stock opened at $63.14 on Wednesday. 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 12 month low of $52.16 and a 12 month high of $67.44. The stock has a market capitalization of $117.43 billion, a PE ratio of 19.37, a price-to-earnings-growth ratio of 1.95 and a beta of 0.92. The business has a 50 day simple moving average of $61.83 and a 200-day simple moving average of $60.31.

HDFC Bank (NYSE:HDB) last issued its quarterly earnings results on Monday, July 22nd. The bank reported $0.78 EPS for the quarter, topping the consensus estimate of $0.51 by $0.27. HDFC Bank had a return on equity of 12.64% and a net margin of 14.69%. The firm had revenue of $14.03 billion during the quarter, compared to analysts’ expectations of $4.81 billion. On average, analysts anticipate that HDFC Bank Limited will post 2.96 EPS for the current fiscal year.

HDFC Bank Company 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.