Institute for Wealth Management LLC. Purchases 876 Shares of HDFC Bank Limited (NYSE:HDB)

Institute for Wealth Management LLC. boosted its position in HDFC Bank Limited (NYSE:HDB) by 18.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 5,580 shares of the bank’s stock after purchasing an additional 876 shares during the quarter. Institute for Wealth Management LLC.’s holdings in HDFC Bank were worth $359,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in HDB. Frazier Financial Advisors LLC purchased a new position in HDFC Bank during the 4th quarter valued at about $29,000. GAMMA Investing LLC purchased a new position in shares of HDFC Bank during the fourth quarter valued at approximately $33,000. Northwest Investment Counselors LLC bought a new stake in shares of HDFC Bank in the 1st quarter worth approximately $34,000. Janiczek Wealth Management LLC purchased a new stake in shares of HDFC Bank in the 1st quarter worth approximately $35,000. Finally, Parkside Financial Bank & Trust increased its position in HDFC Bank by 89.8% during the 4th quarter. Parkside Financial Bank & Trust now owns 615 shares of the bank’s stock valued at $41,000 after buying an additional 291 shares in the last quarter. Hedge funds and other institutional investors own 17.61% of the company’s stock.

HDFC Bank Stock Performance

NYSE:HDB traded up $0.92 during mid-day trading on Friday, reaching $60.93. The company’s stock had a trading volume of 2,447,869 shares, compared to its average volume of 3,166,232. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 1.37. The stock has a market cap of $113.32 billion, a P/E ratio of 18.69, a PEG ratio of 1.66 and a beta of 0.92. The firm’s fifty day moving average price is $61.31 and its two-hundred day moving average price is $58.19. HDFC Bank Limited has a 12-month low of $52.16 and a 12-month high of $67.44.

HDFC Bank (NYSE:HDB) last released its quarterly earnings results on Monday, July 22nd. The bank reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.51 by $0.27. HDFC Bank had a return on equity of 12.64% and a net margin of 14.69%. The firm had revenue of $14.03 billion for the quarter, compared to the consensus estimate of $4.81 billion. On average, equities analysts forecast that HDFC Bank Limited will post 2.88 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on HDB. StockNews.com cut HDFC Bank from a “hold” rating to a “sell” rating in a research note on Thursday, June 13th. JPMorgan Chase & Co. downgraded shares of HDFC Bank from an “overweight” rating to a “neutral” rating in a research note on Monday, July 22nd.

HDFC Bank 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.