Legacy Wealth Asset Management LLC Has $2.28 Million Position in HDFC Bank Limited (NYSE:HDB)

Legacy Wealth Asset Management LLC decreased its holdings in HDFC Bank Limited (NYSE:HDB) by 1.0% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 35,702 shares of the bank’s stock after selling 365 shares during the quarter. HDFC Bank accounts for approximately 0.6% of Legacy Wealth Asset Management LLC’s holdings, making the stock its 27th biggest holding. Legacy Wealth Asset Management LLC’s holdings in HDFC Bank were worth $2,280,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Temasek Holdings Private Ltd increased its stake in HDFC Bank by 1.6% in the third quarter. Temasek Holdings Private Ltd now owns 8,367,222 shares of the bank’s stock valued at $523,453,000 after acquiring an additional 132,445 shares during the period. FMR LLC grew its stake in shares of HDFC Bank by 19.3% in the 3rd quarter. FMR LLC now owns 6,878,824 shares of the bank’s stock valued at $430,339,000 after purchasing an additional 1,114,210 shares during the period. Franklin Resources Inc. raised its holdings in shares of HDFC Bank by 9.0% in the 3rd quarter. Franklin Resources Inc. now owns 6,803,828 shares of the bank’s stock worth $420,477,000 after buying an additional 560,880 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of HDFC Bank by 2.2% during the 3rd quarter. Wellington Management Group LLP now owns 5,069,390 shares of the bank’s stock worth $317,141,000 after buying an additional 108,312 shares during the period. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of HDFC Bank by 1.1% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 4,842,870 shares of the bank’s stock worth $302,970,000 after buying an additional 51,736 shares during the period. 17.61% of the stock is owned by institutional investors.

HDFC Bank Price Performance

NYSE:HDB opened at $58.68 on Friday. The firm has a market cap of $148.59 billion, a PE ratio of 17.84, a price-to-earnings-growth ratio of 1.67 and a beta of 0.92. The company’s 50-day moving average price is $64.24 and its two-hundred day moving average price is $62.63. 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 Limited has a 12 month low of $52.16 and a 12 month high of $68.50.

HDFC Bank (NYSE:HDB) last released its quarterly earnings results on Saturday, October 19th. The bank reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.09. The business had revenue of $9.21 billion for the quarter, compared to analyst estimates of $4.84 billion. HDFC Bank had a return on equity of 12.49% and a net margin of 14.48%. On average, equities analysts anticipate that HDFC Bank Limited will post 3.13 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered HDFC Bank from a “hold” rating to a “sell” rating in a research note on Wednesday, November 27th.

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.