PDS Planning Inc Raises Stock Holdings in HDFC Bank Limited $HDB

PDS Planning Inc grew its stake in shares of HDFC Bank Limited (NYSE:HDB) by 117.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 37,324 shares of the bank’s stock after acquiring an additional 20,143 shares during the quarter. PDS Planning Inc’s holdings in HDFC Bank were worth $1,275,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in HDB. Central Pacific Bank Trust Division purchased a new stake in HDFC Bank in the second quarter worth approximately $29,000. Roxbury Financial LLC bought a new position in shares of HDFC Bank during the 2nd quarter valued at $30,000. Whipplewood Advisors LLC boosted its stake in shares of HDFC Bank by 112.0% in the 2nd quarter. Whipplewood Advisors LLC now owns 549 shares of the bank’s stock worth $42,000 after buying an additional 290 shares during the last quarter. NewSquare Capital LLC grew its holdings in shares of HDFC Bank by 136.4% in the second quarter. NewSquare Capital LLC now owns 676 shares of the bank’s stock worth $52,000 after acquiring an additional 390 shares during the period. Finally, Assetmark Inc. increased its position in HDFC Bank by 358.4% during the second quarter. Assetmark Inc. now owns 706 shares of the bank’s stock valued at $54,000 after acquiring an additional 552 shares during the last quarter. 17.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

HDB has been the topic of several research reports. Weiss Ratings reissued a “hold (c-)” rating on shares of HDFC Bank in a research report on Monday. Zacks Research upgraded shares of HDFC Bank from a “strong sell” rating to a “hold” rating in a research note on Monday, September 29th. Finally, Wall Street Zen lowered shares of HDFC Bank from a “hold” rating to a “sell” rating in a research report on Saturday. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy”.

HDFC Bank Stock Down 0.2%

NYSE HDB opened at $36.46 on Friday. The stock’s 50-day moving average price is $36.21 and its 200-day moving average price is $36.52. The company has a market capitalization of $185.99 billion, a P/E ratio of 22.16, a price-to-earnings-growth ratio of 1.64 and a beta of 0.57. HDFC Bank Limited has a 52 week low of $28.89 and a 52 week high of $39.81.

HDFC Bank (NYSE:HDB) last released its earnings results on Saturday, October 18th. The bank reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.08. HDFC Bank had a net margin of 14.94% and a return on equity of 11.49%. The company had revenue of $8.08 billion during the quarter, compared to analyst estimates of $4.98 billion. Research analysts anticipate that HDFC Bank Limited will post 3.03 EPS for the current year.

HDFC Bank Profile

HDFC Bank Limited is one of India’s leading private sector banks, headquartered in Mumbai. Incorporated in 1994 and promoted by Housing Development Finance Corporation (HDFC), the bank provides a full range of banking and financial services to retail, small and medium-sized enterprises, and corporate customers. It is publicly listed and also accessible to international investors through American Depositary Receipts (ADRs) trading on the New York Stock Exchange under the symbol HDB.

The bank’s core activities include retail banking (deposit accounts, personal loans, home loans, auto loans, and credit cards), commercial and corporate banking (working capital finance, term lending, trade finance and treasury services), and transaction banking (cash management and payment solutions).