SG Americas Securities LLC Purchases 27,440 Shares of HDFC Bank Limited $HDB

SG Americas Securities LLC lifted its position in HDFC Bank Limited (NYSE:HDB) by 385.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 34,561 shares of the bank’s stock after buying an additional 27,440 shares during the period. SG Americas Securities LLC’s holdings in HDFC Bank were worth $1,181,000 as of its most recent SEC filing.

Several other hedge funds have also added to or reduced their stakes in HDB. HB Wealth Management LLC grew its stake in HDFC Bank by 121.3% in the third quarter. HB Wealth Management LLC now owns 14,264 shares of the bank’s stock valued at $487,000 after acquiring an additional 7,819 shares during the period. Spire Wealth Management raised its position in shares of HDFC Bank by 107.9% during the third quarter. Spire Wealth Management now owns 7,955 shares of the bank’s stock worth $272,000 after purchasing an additional 4,129 shares during the period. Park Avenue Securities LLC lifted its holdings in shares of HDFC Bank by 61.5% during the 3rd quarter. Park Avenue Securities LLC now owns 47,025 shares of the bank’s stock valued at $1,606,000 after purchasing an additional 17,908 shares in the last quarter. KLP Kapitalforvaltning AS grew its position in shares of HDFC Bank by 104.2% in the 3rd quarter. KLP Kapitalforvaltning AS now owns 536,100 shares of the bank’s stock valued at $18,313,000 after purchasing an additional 273,600 shares during the period. Finally, Sather Financial Group Inc grew its position in shares of HDFC Bank by 106.3% in the 3rd quarter. Sather Financial Group Inc now owns 20,628 shares of the bank’s stock valued at $705,000 after purchasing an additional 10,628 shares during the period. Institutional investors and hedge funds own 17.61% of the company’s stock.

HDFC Bank Stock Up 0.5%

NYSE HDB opened at $32.66 on Friday. The firm’s 50 day moving average is $35.57 and its 200-day moving average is $36.19. The company has a market capitalization of $166.60 billion, a PE ratio of 19.85, a price-to-earnings-growth ratio of 1.32 and a beta of 0.57. HDFC Bank Limited has a 12-month low of $29.01 and a 12-month high of $39.81.

HDFC Bank (NYSE:HDB) last announced its earnings results on Saturday, October 18th. The bank reported $0.44 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 business had revenue of $8.08 billion during the quarter, compared to analysts’ expectations of $4.98 billion. As a group, sell-side analysts expect that HDFC Bank Limited will post 3.03 EPS for the current year.

Analysts Set New Price Targets

Several analysts have commented on the stock. Wall Street Zen downgraded shares of HDFC Bank from a “hold” rating to a “sell” rating in a report on Saturday, January 3rd. Weiss Ratings lowered shares of HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, January 12th. Finally, Zacks Research raised shares of HDFC Bank from a “strong sell” rating to a “hold” rating in a research note on Monday, September 29th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy”.

About HDFC Bank

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).