New Century Financial Group LLC Has $237,000 Stake in HDFC Bank Limited (NYSE:HDB)

New Century Financial Group LLC reduced its holdings in HDFC Bank Limited (NYSE:HDB) by 11.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,794 shares of the bank’s stock after selling 484 shares during the quarter. New Century Financial Group LLC’s holdings in HDFC Bank were worth $237,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Glenmede Trust Co. NA increased its stake in HDFC Bank by 3.6% during the 3rd quarter. Glenmede Trust Co. NA now owns 4,807 shares of the bank’s stock worth $301,000 after purchasing an additional 167 shares in the last quarter. Commerce Bank increased its position in shares of HDFC Bank by 7.0% during the third quarter. Commerce Bank now owns 3,427 shares of the bank’s stock worth $214,000 after acquiring an additional 225 shares in the last quarter. Pin Oak Investment Advisors Inc. raised its holdings in shares of HDFC Bank by 104.1% during the third quarter. Pin Oak Investment Advisors Inc. now owns 498 shares of the bank’s stock worth $31,000 after acquiring an additional 254 shares during the period. Mount Yale Investment Advisors LLC lifted its position in HDFC Bank by 4.2% in the 3rd quarter. Mount Yale Investment Advisors LLC now owns 6,371 shares of the bank’s stock valued at $399,000 after acquiring an additional 257 shares in the last quarter. Finally, JFS Wealth Advisors LLC boosted its stake in HDFC Bank by 70.2% in the 3rd quarter. JFS Wealth Advisors LLC now owns 667 shares of the bank’s stock worth $42,000 after purchasing an additional 275 shares during the period. Institutional investors and hedge funds own 17.61% of the company’s stock.

Analyst Ratings Changes

Several research firms have issued reports on HDB. StockNews.com downgraded HDFC Bank from a “hold” rating to a “sell” rating in a research note on Wednesday, November 27th. Nomura raised HDFC Bank from a “neutral” rating to a “buy” rating in a research report on Thursday.

HDFC Bank Stock Down 0.8 %

HDFC Bank stock opened at $58.47 on Friday. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34. HDFC Bank Limited has a 1-year low of $52.16 and a 1-year high of $68.50. The company has a fifty day simple moving average of $63.76 and a 200 day simple moving average of $62.39. The company has a market cap of $148.05 billion, a P/E ratio of 17.77, a price-to-earnings-growth ratio of 1.73 and a beta of 0.92.

HDFC Bank (NYSE:HDB) last announced its quarterly earnings data on Wednesday, January 22nd. The bank reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.08. HDFC Bank had a return on equity of 11.78% and a net margin of 14.64%. Research analysts anticipate that HDFC Bank Limited will post 3.13 earnings per share for the current fiscal year.

About HDFC Bank

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.