NewEdge Wealth LLC Buys 30,162 Shares of HDFC Bank Limited $HDB

NewEdge Wealth LLC boosted its stake in HDFC Bank Limited (NYSE:HDB) by 151.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 50,093 shares of the bank’s stock after buying an additional 30,162 shares during the period. NewEdge Wealth LLC’s holdings in HDFC Bank were worth $1,795,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Central Pacific Bank Trust Division boosted its position in shares of HDFC Bank by 100.0% during the third quarter. Central Pacific Bank Trust Division now owns 758 shares of the bank’s stock valued at $26,000 after purchasing an additional 379 shares in the last quarter. Parkside Financial Bank & Trust lifted its position in HDFC Bank by 54.5% during the third quarter. Parkside Financial Bank & Trust now owns 913 shares of the bank’s stock valued at $31,000 after buying an additional 322 shares during the period. J.Safra Asset Management Corp boosted its holdings in shares of HDFC Bank by 100.0% during the 3rd quarter. J.Safra Asset Management Corp now owns 1,020 shares of the bank’s stock valued at $35,000 after buying an additional 510 shares in the last quarter. Roxbury Financial LLC boosted its holdings in shares of HDFC Bank by 194.9% during the 3rd quarter. Roxbury Financial LLC now owns 1,162 shares of the bank’s stock valued at $40,000 after buying an additional 768 shares in the last quarter. Finally, Whipplewood Advisors LLC grew its position 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 period. Institutional investors own 17.61% of the company’s stock.

HDFC Bank Stock Performance

Shares of NYSE HDB opened at $33.11 on Friday. The firm’s 50 day moving average price is $33.94 and its 200-day moving average price is $35.25. HDFC Bank Limited has a 52-week low of $29.23 and a 52-week high of $39.81. The company has a market cap of $168.88 billion, a PE ratio of 19.88, a P/E/G ratio of 1.38 and a beta of 0.57.

HDFC Bank (NYSE:HDB) last announced its quarterly earnings results on Tuesday, January 20th. The bank reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.04. HDFC Bank had a net margin of 14.92% and a return on equity of 11.49%. The company had revenue of $9.01 billion during the quarter, compared to the consensus estimate of $5.12 billion. On average, analysts forecast that HDFC Bank Limited will post 3.03 earnings per share for the current fiscal year.

Analysts Set New Price Targets

HDB has been the subject of a number of recent research reports. Weiss Ratings raised shares of HDFC Bank from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, January 26th. Wall Street Zen raised shares of HDFC Bank from a “sell” rating to a “hold” rating in a research note on Friday, January 23rd. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat, HDFC Bank presently has an average rating of “Hold”.

HDFC Bank Company 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).