Zurich Insurance Group Ltd FI Buys 23,581 Shares of HDFC Bank Limited (NYSE:HDB)

Zurich Insurance Group Ltd FI grew its stake in shares of HDFC Bank Limited (NYSE:HDB) by 30.2% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 101,724 shares of the bank’s stock after acquiring an additional 23,581 shares during the period. Zurich Insurance Group Ltd FI’s holdings in HDFC Bank were worth $6,544,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. UMB Bank n.a. grew its holdings in HDFC Bank by 5.4% during the second quarter. UMB Bank n.a. now owns 4,831 shares of the bank’s stock valued at $311,000 after purchasing an additional 248 shares during the period. Endowment Wealth Management Inc. lifted its position in shares of HDFC Bank by 6.5% during the 1st quarter. Endowment Wealth Management Inc. now owns 4,438 shares of the bank’s stock valued at $248,000 after buying an additional 272 shares during the last quarter. Mount Yale Investment Advisors LLC grew its stake in shares of HDFC Bank by 5.6% during the 2nd quarter. Mount Yale Investment Advisors LLC now owns 6,114 shares of the bank’s stock worth $393,000 after acquiring an additional 322 shares during the period. GAMMA Investing LLC increased its holdings in HDFC Bank by 56.0% in the 2nd quarter. GAMMA Investing LLC now owns 903 shares of the bank’s stock worth $58,000 after acquiring an additional 324 shares during the last quarter. Finally, Toronto Dominion Bank increased its holdings in HDFC Bank by 10.8% in the 1st quarter. Toronto Dominion Bank now owns 3,328 shares of the bank’s stock worth $186,000 after acquiring an additional 325 shares during the last quarter. Hedge funds and other institutional investors own 17.61% of the company’s stock.

HDFC Bank Price Performance

HDFC Bank stock opened at $66.16 on Thursday. The firm has a market capitalization of $123.05 billion, a P/E ratio of 20.29, a PEG ratio of 1.76 and a beta of 0.92. HDFC Bank Limited has a one year low of $52.16 and a one year high of $67.44. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.51 and a quick ratio of 0.51. The business has a fifty day moving average price of $61.01 and a 200-day moving average price of $59.48.

HDFC Bank (NYSE:HDB) last issued its quarterly earnings data on Monday, July 22nd. The bank reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.27. The business had revenue of $14.03 billion for the quarter, compared to analysts’ expectations of $4.81 billion. HDFC Bank had a return on equity of 12.64% and a net margin of 14.69%. As a group, equities research analysts forecast that HDFC Bank Limited will post 2.97 EPS for the current year.

Analyst Ratings Changes

HDB has been the topic of several recent research reports. JPMorgan Chase & Co. downgraded shares of HDFC Bank from an “overweight” rating to a “neutral” rating in a report on Monday, July 22nd. StockNews.com cut shares of HDFC Bank from a “hold” rating to a “sell” rating in a research note on Thursday, June 13th.

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.