Synovus Financial Corp Buys 22,105 Shares of HDFC Bank Limited $HDB

Synovus Financial Corp increased its stake in HDFC Bank Limited (NYSE:HDB) by 95.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 45,290 shares of the bank’s stock after buying an additional 22,105 shares during the quarter. Synovus Financial Corp’s holdings in HDFC Bank were worth $1,547,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Whipplewood Advisors LLC lifted its stake in HDFC Bank by 112.0% in the 2nd quarter. Whipplewood Advisors LLC now owns 549 shares of the bank’s stock valued at $42,000 after purchasing an additional 290 shares during the last quarter. NewSquare Capital LLC boosted its stake in shares of HDFC Bank by 136.4% during the 2nd 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. Assetmark Inc. increased its holdings in shares of HDFC Bank by 358.4% during the 2nd quarter. Assetmark Inc. now owns 706 shares of the bank’s stock worth $54,000 after acquiring an additional 552 shares during the last quarter. Central Pacific Bank Trust Division increased its holdings in shares of HDFC Bank by 100.0% during the 3rd quarter. Central Pacific Bank Trust Division now owns 758 shares of the bank’s stock worth $26,000 after acquiring an additional 379 shares during the last quarter. Finally, Parkside Financial Bank & Trust raised its stake in HDFC Bank by 54.5% in the 3rd quarter. Parkside Financial Bank & Trust now owns 913 shares of the bank’s stock valued at $31,000 after acquiring an additional 322 shares during the period. 17.61% of the stock is owned by institutional investors.

HDFC Bank Trading Up 1.2%

NYSE HDB opened at $33.11 on Friday. The company has a market cap of $168.88 billion, a price-to-earnings ratio of 19.88, a PEG ratio of 1.38 and a beta of 0.57. The company has a 50 day moving average of $33.94 and a 200-day moving average of $35.25. HDFC Bank Limited has a 1-year low of $29.23 and a 1-year high of $39.81.

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

Analyst Ratings Changes

HDB has been the topic of several research reports. Weiss Ratings upgraded shares of HDFC Bank from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, January 26th. Wall Street Zen raised shares of HDFC Bank from a “sell” rating to a “hold” rating in a report on Friday, January 23rd. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock currently 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).