Wealth Alliance Purchases 6,002 Shares of HDFC Bank Limited (NYSE:HDB)

Wealth Alliance boosted its position in shares of HDFC Bank Limited (NYSE:HDB) by 53.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 17,281 shares of the bank’s stock after acquiring an additional 6,002 shares during the period. Wealth Alliance’s holdings in HDFC Bank were worth $1,112,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FIL Ltd increased its stake in HDFC Bank by 10.8% during the fourth quarter. FIL Ltd now owns 13,594,291 shares of the bank’s stock valued at $912,313,000 after acquiring an additional 1,326,574 shares during the period. Baillie Gifford & Co. grew its stake in shares of HDFC Bank by 2.3% in the 2nd quarter. Baillie Gifford & Co. now owns 11,533,215 shares of the bank’s stock valued at $741,932,000 after purchasing an additional 263,690 shares during the period. Harding Loevner LP grew its stake in shares of HDFC Bank by 31.7% in the 4th quarter. Harding Loevner LP now owns 9,456,666 shares of the bank’s stock valued at $621,646,000 after purchasing an additional 2,276,203 shares during the period. Sustainable Growth Advisers LP grew its stake in shares of HDFC Bank by 24.1% in the 1st quarter. Sustainable Growth Advisers LP now owns 8,824,089 shares of the bank’s stock valued at $493,884,000 after purchasing an additional 1,711,784 shares during the period. Finally, Schroder Investment Management Group boosted its holdings in shares of HDFC Bank by 1.6% in the 4th quarter. Schroder Investment Management Group now owns 8,667,541 shares of the bank’s stock worth $581,679,000 after acquiring an additional 133,791 shares in the last quarter. 17.61% of the stock is currently owned by institutional investors.

HDFC Bank Stock Up 0.7 %

NYSE:HDB opened at $63.44 on Thursday. The stock’s fifty day moving average price is $60.60 and its two-hundred day moving average price is $59.17. HDFC Bank Limited has a 52-week low of $52.16 and a 52-week high of $67.44. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.51 and a current ratio of 0.51. The company has a market cap of $117.99 billion, a price-to-earnings ratio of 19.46, a P/E/G ratio of 1.63 and a beta of 0.92.

HDFC Bank (NYSE:HDB) last posted its quarterly earnings data on Monday, July 22nd. The bank reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.27. The firm had revenue of $14.03 billion for the quarter, compared to the consensus estimate of $4.81 billion. HDFC Bank had a return on equity of 12.64% and a net margin of 14.69%. On average, analysts anticipate that HDFC Bank Limited will post 2.97 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on HDB. JPMorgan Chase & Co. downgraded HDFC Bank from an “overweight” rating to a “neutral” rating in a report on Monday, July 22nd. StockNews.com downgraded 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.