Ritholtz Wealth Management Makes New $535,000 Investment in HDFC Bank Limited (NYSE:HDB)

Ritholtz Wealth Management acquired a new stake in shares of HDFC Bank Limited (NYSE:HDB) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 8,322 shares of the bank’s stock, valued at approximately $535,000.

A number of other hedge funds have also made changes to their positions in HDB. Royal London Asset Management Ltd. increased its holdings in shares of HDFC Bank by 234.1% during the 4th quarter. Royal London Asset Management Ltd. now owns 6,690,063 shares of the bank’s stock valued at $448,970,000 after acquiring an additional 4,687,487 shares during the last quarter. Capital World Investors increased its holdings in shares of HDFC Bank by 208.6% during the 1st quarter. Capital World Investors now owns 4,124,751 shares of the bank’s stock valued at $230,862,000 after acquiring an additional 2,788,197 shares during the last quarter. Manning & Napier Advisors LLC acquired a new position in shares of HDFC Bank during the 2nd quarter valued at about $166,709,000. PineStone Asset Management Inc. increased its holdings in shares of HDFC Bank by 115.1% during the 2nd quarter. PineStone Asset Management Inc. now owns 4,468,960 shares of the bank’s stock valued at $287,488,000 after acquiring an additional 2,391,343 shares during the last quarter. Finally, Harding Loevner LP increased its holdings in shares of HDFC Bank by 31.7% during the 4th quarter. Harding Loevner LP now owns 9,456,666 shares of the bank’s stock valued at $621,646,000 after acquiring an additional 2,276,203 shares during the last quarter. Institutional investors and hedge funds own 17.61% of the company’s stock.

HDFC Bank Stock Performance

HDB opened at $61.70 on Thursday. The firm has a market capitalization of $114.76 billion, a P/E ratio of 18.93, a price-to-earnings-growth ratio of 1.62 and a beta of 0.92. The stock’s 50 day moving average price is $60.99 and its two-hundred day moving average price is $58.61. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 1.37. HDFC Bank Limited has a 12-month low of $52.16 and a 12-month high of $67.44.

HDFC Bank (NYSE:HDB) last released its earnings results on Monday, July 22nd. The bank reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.51 by $0.27. HDFC Bank had a return on equity of 12.64% and a net margin of 14.69%. The firm had revenue of $14.03 billion for the quarter, compared to analyst estimates of $4.81 billion. On average, equities analysts forecast that HDFC Bank Limited will post 2.98 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on HDB. JPMorgan Chase & Co. lowered HDFC Bank from an “overweight” rating to a “neutral” rating in a report on Monday, July 22nd. StockNews.com lowered HDFC Bank from a “hold” rating to a “sell” rating in a report on Thursday, June 13th.

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.