NewEdge Advisors LLC Acquires 10,520 Shares of HDFC Bank Limited (NYSE:HDB)

NewEdge Advisors LLC lifted its holdings in HDFC Bank Limited (NYSE:HDB) by 4,495.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 10,754 shares of the bank’s stock after purchasing an additional 10,520 shares during the period. NewEdge Advisors LLC’s holdings in HDFC Bank were worth $687,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of HDB. Waverton Investment Management Ltd lifted its holdings in HDFC Bank by 1.0% during the fourth quarter. Waverton Investment Management Ltd now owns 19,963 shares of the bank’s stock worth $1,275,000 after buying an additional 203 shares during the period. Brown Brothers Harriman & Co. lifted its stake in shares of HDFC Bank by 63.7% during the 4th quarter. Brown Brothers Harriman & Co. now owns 617 shares of the bank’s stock worth $39,000 after purchasing an additional 240 shares during the last quarter. Level Four Advisory Services LLC boosted its position in HDFC Bank by 3.6% during the fourth quarter. Level Four Advisory Services LLC now owns 6,855 shares of the bank’s stock valued at $438,000 after purchasing an additional 241 shares in the last quarter. Baron Wealth Management LLC grew its stake in HDFC Bank by 3.7% in the fourth quarter. Baron Wealth Management LLC now owns 7,360 shares of the bank’s stock valued at $470,000 after purchasing an additional 263 shares during the last quarter. Finally, Principal Securities Inc. raised its holdings in HDFC Bank by 13.0% in the fourth quarter. Principal Securities Inc. now owns 2,305 shares of the bank’s stock worth $147,000 after purchasing an additional 265 shares in the last quarter. 17.61% of the stock is currently owned by institutional investors.

HDFC Bank Price Performance

Shares of NYSE HDB opened at $72.17 on Friday. HDFC Bank Limited has a fifty-two week low of $54.99 and a fifty-two week high of $75.37. The company has a market cap of $182.76 billion, a PE ratio of 21.94, a P/E/G ratio of 2.12 and a beta of 0.68. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.09 and a current ratio of 0.09. The business has a 50-day simple moving average of $64.54 and a two-hundred day simple moving average of $63.46.

HDFC Bank (NYSE:HDB) last announced its quarterly earnings data on Saturday, April 19th. The bank reported $0.85 EPS for the quarter, beating the consensus estimate of $0.74 by $0.11. The firm had revenue of $5.04 billion during the quarter, compared to analyst estimates of $434.68 billion. HDFC Bank had a net margin of 14.64% and a return on equity of 12.19%. As a group, equities analysts expect that HDFC Bank Limited will post 3.03 EPS for the current fiscal year.

Analysts Set New Price Targets

HDB has been the topic of a number of recent analyst reports. Nomura upgraded shares of HDFC Bank from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. Nomura Securities upgraded shares of HDFC Bank from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 23rd. Finally, StockNews.com raised shares of HDFC Bank from a “sell” rating to a “hold” rating in a report on Thursday.

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.