IFP Advisors Inc Boosts Stock Position in HDFC Bank Limited (NYSE:HDB)

IFP Advisors Inc increased its stake in HDFC Bank Limited (NYSE:HDB) by 2,310.1% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,013 shares of the bank’s stock after buying an additional 4,805 shares during the period. IFP Advisors Inc’s holdings in HDFC Bank were worth $320,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Pin Oak Investment Advisors Inc. grew its stake in shares of HDFC Bank by 104.1% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 498 shares of the bank’s stock worth $31,000 after buying an additional 254 shares during the last quarter. JFS Wealth Advisors LLC boosted its stake in HDFC Bank by 70.2% during the 3rd quarter. JFS Wealth Advisors LLC now owns 667 shares of the bank’s stock valued at $42,000 after purchasing an additional 275 shares during the last quarter. Sierra Ocean LLC purchased a new stake in HDFC Bank during the 4th quarter valued at $42,000. Kestra Investment Management LLC purchased a new stake in HDFC Bank during the 4th quarter valued at $60,000. Finally, RPg Family Wealth Advisory LLC purchased a new stake in HDFC Bank during the 3rd quarter valued at $65,000. Hedge funds and other institutional investors own 17.61% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on HDB. StockNews.com downgraded HDFC Bank from a “hold” rating to a “sell” rating in a research note on Wednesday, November 27th. Nomura Securities upgraded HDFC Bank from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 23rd. Finally, Nomura upgraded HDFC Bank from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd.

HDFC Bank Price Performance

NYSE HDB opened at $61.63 on Friday. The business’s fifty day moving average price is $60.89 and its 200-day moving average price is $62.44. The stock has a market capitalization of $156.07 billion, a price-to-earnings ratio of 18.73, a PEG ratio of 2.12 and a beta of 0.91. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.09 and a quick ratio of 0.09. HDFC Bank Limited has a 1-year low of $53.19 and a 1-year high of $68.50.

HDFC Bank (NYSE:HDB) last released its quarterly earnings results on Wednesday, January 22nd. The bank reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.08. HDFC Bank had a return on equity of 12.19% and a net margin of 14.64%. On average, equities analysts predict that HDFC Bank Limited will post 3.03 earnings per share for the current year.

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.