Prime Capital Investment Advisors LLC Boosts Stake in HDFC Bank Limited (NYSE:HDB)

Prime Capital Investment Advisors LLC lifted its holdings in HDFC Bank Limited (NYSE:HDB) by 1.2% during the third quarter, Holdings Channel.com reports. The institutional investor owned 25,576 shares of the bank’s stock after acquiring an additional 308 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in HDFC Bank were worth $1,600,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently modified their holdings of the business. Ridgewood Investments LLC purchased a new position in HDFC Bank in the second quarter worth $36,000. Northwest Investment Counselors LLC bought a new position in HDFC Bank during the third quarter valued at about $38,000. JFS Wealth Advisors LLC increased its holdings in HDFC Bank by 70.2% during the third quarter. JFS Wealth Advisors LLC now owns 667 shares of the bank’s stock worth $42,000 after buying an additional 275 shares during the last quarter. LRI Investments LLC bought a new stake in HDFC Bank in the first quarter worth about $56,000. Finally, GAMMA Investing LLC boosted its stake in HDFC Bank by 56.0% in the second quarter. GAMMA Investing LLC now owns 903 shares of the bank’s stock valued at $58,000 after acquiring an additional 324 shares during the last quarter. 17.61% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on HDB. JPMorgan Chase & Co. lowered shares of HDFC Bank from an “overweight” rating to a “neutral” rating in a research note on Monday, July 22nd. StockNews.com raised HDFC Bank from a “sell” rating to a “hold” rating in a research report on Friday, November 8th.

HDFC Bank Stock Performance

Shares of HDB stock opened at $61.94 on Friday. HDFC Bank Limited has a 12 month low of $52.16 and a 12 month high of $67.44. The stock has a market capitalization of $156.84 billion, a P/E ratio of 18.83, a PEG ratio of 1.63 and a beta of 0.91. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34. The firm’s 50 day moving average is $62.81 and its 200 day moving average is $60.93.

HDFC Bank (NYSE:HDB) last posted its quarterly earnings results on Saturday, October 19th. The bank reported $0.85 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.09. HDFC Bank had a return on equity of 12.49% and a net margin of 14.48%. The firm had revenue of $9.21 billion during the quarter, compared to analyst estimates of $4.84 billion. On average, sell-side analysts anticipate that HDFC Bank Limited will post 3.2 earnings per share for the current year.

About HDFC Bank

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.