Raymond James & Associates cut its holdings in HDFC Bank Limited (NYSE:HDB – Get Rating) by 8.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 457,636 shares of the bank's stock after selling 43,315 shares during the quarter. Raymond James & Associates' holdings in HDFC Bank were worth $26,735,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Urban Wealth Management LLC bought a new position in HDFC Bank in the second quarter valued at approximately $27,000. Heritage Wealth Management LLC bought a new position in HDFC Bank in the second quarter valued at approximately $33,000. Newbridge Financial Services Group Inc. boosted its stake in HDFC Bank by 130.1% in the third quarter. Newbridge Financial Services Group Inc. now owns 711 shares of the bank's stock valued at $42,000 after acquiring an additional 402 shares during the last quarter. SeaCrest Wealth Management LLC bought a new position in HDFC Bank in the second quarter valued at approximately $105,000. Finally, Whittier Trust Co. of Nevada Inc. boosted its stake in HDFC Bank by 815.9% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 2,015 shares of the bank's stock valued at $118,000 after acquiring an additional 1,795 shares during the last quarter. 17.50% of the stock is owned by institutional investors.
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Separately, StockNews.com assumed coverage on shares of HDFC Bank in a research report on Wednesday, October 12th. They set a "hold" rating on the stock.
HDFC Bank Trading Up 0.7 %
Shares of NYSE HDB opened at $67.40 on Friday. The company's fifty day moving average is $67.57 and its 200-day moving average is $62.95. The stock has a market cap of $124.59 billion, a price-to-earnings ratio of 23.08, a P/E/G ratio of 1.18 and a beta of 0.80. HDFC Bank Limited has a twelve month low of $50.61 and a twelve month high of $72.20. The company has a quick ratio of 0.35, a current ratio of 0.35 and a debt-to-equity ratio of 0.96.HDFC Bank (NYSE:HDB – Get Rating) last announced its quarterly earnings results on Monday, October 17th. The bank reported $0.75 earnings per share for the quarter, topping analysts' consensus estimates of $0.70 by $0.05. The company had revenue of $3.87 billion for the quarter, compared to analysts' expectations of $3.60 billion. HDFC Bank had a net margin of 23.11% and a return on equity of 16.60%. Equities research analysts predict that HDFC Bank Limited will post 2.91 EPS for the current year.
About HDFC Bank
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HDFC Bank Limited provides banking and financial services to individuals and businesses in India, Bahrain, Hong Kong, and Dubai. It operates in Treasury, Retail Banking, Wholesale Banking, Other Banking Business, and Unallocated segments. The company 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, overdrafts against fixed deposits, and sweep-in facilities.
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