Ritholtz Wealth Management Increases Holdings in HDFC Bank Limited (NYSE:HDB)

Ritholtz Wealth Management boosted its position in HDFC Bank Limited (NYSE:HDB) by 25.8% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 14,506 shares of the bank’s stock after purchasing an additional 2,974 shares during the period. Ritholtz Wealth Management’s holdings in HDFC Bank were worth $926,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Citigroup Inc. boosted its holdings in HDFC Bank by 21.1% during the third quarter. Citigroup Inc. now owns 1,143,853 shares of the bank’s stock worth $71,559,000 after buying an additional 199,582 shares in the last quarter. Nomura Asset Management Co. Ltd. raised its holdings in HDFC Bank by 60.1% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 316,974 shares of the bank’s stock worth $19,830,000 after purchasing an additional 119,050 shares during the period. Zurich Insurance Group Ltd FI boosted its position in HDFC Bank by 34.7% during the third quarter. Zurich Insurance Group Ltd FI now owns 137,015 shares of the bank’s stock worth $8,572,000 after purchasing an additional 35,291 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. grew its holdings in HDFC Bank by 13.4% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 241,600 shares of the bank’s stock valued at $15,114,000 after purchasing an additional 28,500 shares during the period. Finally, Northcape Capital Pty Ltd increased its position in shares of HDFC Bank by 17.6% in the fourth quarter. Northcape Capital Pty Ltd now owns 2,700,346 shares of the bank’s stock valued at $172,444,000 after buying an additional 403,886 shares in the last quarter. Institutional investors and hedge funds own 17.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com cut shares of HDFC Bank from a “hold” rating to a “sell” rating in a research note on Wednesday, November 27th.

HDFC Bank Stock Down 0.4 %

Shares of NYSE:HDB opened at $58.39 on Monday. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 1.34. HDFC Bank Limited has a 52-week low of $52.16 and a 52-week high of $68.50. The business has a fifty day moving average of $64.02 and a two-hundred day moving average of $62.54. The stock has a market cap of $147.87 billion, a P/E ratio of 17.75, a PEG ratio of 1.67 and a beta of 0.92.

HDFC Bank (NYSE:HDB) last announced its quarterly earnings results on Saturday, October 19th. The bank reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.09. HDFC Bank had a net margin of 14.48% and a return on equity of 12.49%. The business had revenue of $9.21 billion during the quarter, compared to analysts’ expectations of $4.84 billion. On average, research analysts expect that HDFC Bank Limited will post 3.13 earnings per share for the current year.

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.