Portside Wealth Group LLC Buys 3,079 Shares of HDFC Bank Limited (NYSE:HDB)

Portside Wealth Group LLC increased its stake in HDFC Bank Limited (NYSE:HDB) by 78.3% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 7,010 shares of the bank’s stock after acquiring an additional 3,079 shares during the period. Portside Wealth Group LLC’s holdings in HDFC Bank were worth $451,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Breakout Capital Partners LP bought a new stake in shares of HDFC Bank during the 4th quarter valued at $18,894,000. CIBC Private Wealth Group LLC lifted its stake in HDFC Bank by 2.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 929,921 shares of the bank’s stock valued at $62,407,000 after buying an additional 21,265 shares during the period. Truist Financial Corp boosted its holdings in HDFC Bank by 17.7% during the fourth quarter. Truist Financial Corp now owns 39,606 shares of the bank’s stock worth $2,658,000 after buying an additional 5,953 shares during the last quarter. Manning & Napier Advisors LLC acquired a new position in shares of HDFC Bank during the 2nd quarter worth about $166,709,000. Finally, Sei Investments Co. raised its position in shares of HDFC Bank by 0.8% in the 4th quarter. Sei Investments Co. now owns 1,661,176 shares of the bank’s stock valued at $111,481,000 after acquiring an additional 13,610 shares during the period. Institutional investors and hedge funds own 17.61% of the company’s stock.

Wall Street Analyst Weigh In

HDB has been the topic of a number of research analyst reports. JPMorgan Chase & Co. lowered HDFC Bank from an “overweight” rating to a “neutral” rating in a research report on Monday, July 22nd. StockNews.com lowered shares of HDFC Bank from a “hold” rating to a “sell” rating in a research note on Thursday, June 13th.

HDFC Bank Stock Up 0.5 %

NYSE:HDB traded up $0.27 during trading hours on Friday, reaching $60.11. 1,838,893 shares of the stock were exchanged, compared to its average volume of 3,209,661. 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 twelve month low of $52.16 and a twelve month high of $67.44. The stock has a market cap of $111.80 billion, a PE ratio of 18.44, a PEG ratio of 1.66 and a beta of 0.93. The firm has a 50 day moving average of $61.26 and a 200 day moving average of $58.02.

HDFC Bank (NYSE:HDB) last released 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. HDFC Bank had a net margin of 14.69% and a return on equity of 12.64%. The business had revenue of $14.03 billion during the quarter, compared to the consensus estimate of $4.81 billion. On average, equities analysts expect that HDFC Bank Limited will post 2.88 earnings per share for the current 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.