HighTower Advisors LLC Purchases 206,601 Shares of HDFC Bank Limited $HDB

HighTower Advisors LLC increased its position in HDFC Bank Limited (NYSE:HDB) by 105.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 402,013 shares of the bank’s stock after acquiring an additional 206,601 shares during the period. HighTower Advisors LLC’s holdings in HDFC Bank were worth $13,733,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Whipplewood Advisors LLC increased its holdings in shares of HDFC Bank by 112.0% in the 2nd quarter. Whipplewood Advisors LLC now owns 549 shares of the bank’s stock worth $42,000 after purchasing an additional 290 shares in the last quarter. NewSquare Capital LLC boosted its position in shares of HDFC Bank by 136.4% during the second quarter. NewSquare Capital LLC now owns 676 shares of the bank’s stock valued at $52,000 after buying an additional 390 shares during the last quarter. Assetmark Inc. boosted its position in shares of HDFC Bank by 358.4% during the second quarter. Assetmark Inc. now owns 706 shares of the bank’s stock valued at $54,000 after buying an additional 552 shares during the last quarter. Central Pacific Bank Trust Division increased its holdings in HDFC Bank by 100.0% in the 3rd quarter. Central Pacific Bank Trust Division now owns 758 shares of the bank’s stock worth $26,000 after buying an additional 379 shares in the last quarter. Finally, Parkside Financial Bank & Trust raised its position in HDFC Bank by 54.5% in the 3rd quarter. Parkside Financial Bank & Trust now owns 913 shares of the bank’s stock worth $31,000 after buying an additional 322 shares during the last quarter. 17.61% of the stock is currently owned by hedge funds and other institutional investors.

HDFC Bank Stock Performance

Shares of NYSE:HDB opened at $33.11 on Friday. The stock’s 50-day simple moving average is $33.94 and its two-hundred day simple moving average is $35.27. The stock has a market capitalization of $168.88 billion, a price-to-earnings ratio of 19.88, a PEG ratio of 1.36 and a beta of 0.57. HDFC Bank Limited has a 52-week low of $29.23 and a 52-week high of $39.81.

HDFC Bank (NYSE:HDB) last issued its quarterly earnings data on Tuesday, January 20th. The bank reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.04. The firm had revenue of $9.01 billion for the quarter, compared to analysts’ expectations of $5.12 billion. HDFC Bank had a net margin of 14.92% and a return on equity of 11.49%. As a group, equities analysts forecast that HDFC Bank Limited will post 3.03 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on HDB shares. Wall Street Zen raised shares of HDFC Bank from a “sell” rating to a “hold” rating in a report on Friday, January 23rd. Weiss Ratings upgraded shares of HDFC Bank from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, January 26th. Two investment analysts have rated the stock with a Hold rating, According to data from MarketBeat, the stock has a consensus rating of “Hold”.

HDFC Bank Company Profile

HDFC Bank Limited is one of India’s leading private sector banks, headquartered in Mumbai. Incorporated in 1994 and promoted by Housing Development Finance Corporation (HDFC), the bank provides a full range of banking and financial services to retail, small and medium-sized enterprises, and corporate customers. It is publicly listed and also accessible to international investors through American Depositary Receipts (ADRs) trading on the New York Stock Exchange under the symbol HDB.

The bank’s core activities include retail banking (deposit accounts, personal loans, home loans, auto loans, and credit cards), commercial and corporate banking (working capital finance, term lending, trade finance and treasury services), and transaction banking (cash management and payment solutions).