Legacy Wealth Asset Management LLC Has $2.28 Million Stock Holdings in HDFC Bank Limited (NYSE:HDB)

Legacy Wealth Asset Management LLC trimmed its position in HDFC Bank Limited (NYSE:HDB) by 1.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 35,702 shares of the bank’s stock after selling 365 shares during the quarter. HDFC Bank makes up 0.6% of Legacy Wealth Asset Management LLC’s portfolio, making the stock its 27th biggest position. Legacy Wealth Asset Management LLC’s holdings in HDFC Bank were worth $2,280,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in HDB. Temasek Holdings Private Ltd raised its stake in shares of HDFC Bank by 1.6% during the third quarter. Temasek Holdings Private Ltd now owns 8,367,222 shares of the bank’s stock worth $523,453,000 after buying an additional 132,445 shares during the last quarter. FMR LLC raised its position in shares of HDFC Bank by 19.3% during the 3rd quarter. FMR LLC now owns 6,878,824 shares of the bank’s stock valued at $430,339,000 after acquiring an additional 1,114,210 shares during the last quarter. Franklin Resources Inc. lifted its stake in shares of HDFC Bank by 9.0% in the 3rd quarter. Franklin Resources Inc. now owns 6,803,828 shares of the bank’s stock valued at $420,477,000 after purchasing an additional 560,880 shares during the period. Wellington Management Group LLP grew its stake in shares of HDFC Bank by 2.2% during the third quarter. Wellington Management Group LLP now owns 5,069,390 shares of the bank’s stock worth $317,141,000 after purchasing an additional 108,312 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its holdings in HDFC Bank by 1.1% in the third quarter. Massachusetts Financial Services Co. MA now owns 4,842,870 shares of the bank’s stock valued at $302,970,000 after purchasing an additional 51,736 shares during the last quarter. 17.61% of the stock is owned by institutional investors.

HDFC Bank Stock Down 0.8 %

Shares of NYSE:HDB opened at $58.68 on Friday. The company has a 50 day moving average price of $64.24 and a two-hundred day moving average price of $62.63. The company has a market capitalization of $148.59 billion, a PE ratio of 17.84, a PEG ratio of 1.67 and a beta of 0.92. HDFC Bank Limited has a 52 week low of $52.16 and a 52 week high of $68.50. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.53.

HDFC Bank (NYSE:HDB) last issued its quarterly earnings data on Saturday, October 19th. The bank reported $0.85 EPS for the quarter, topping the consensus estimate of $0.76 by $0.09. HDFC Bank had a return on equity of 12.49% and a net margin of 14.48%. The business had revenue of $9.21 billion for the quarter, compared to the consensus estimate of $4.84 billion. Analysts forecast that HDFC Bank Limited will post 3.13 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered HDFC Bank from a “hold” rating to a “sell” rating in a research report on Wednesday, November 27th.

HDFC Bank Company Profile

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.