Verdence Capital Advisors LLC Buys 1,867 Shares of HDFC Bank Limited (NYSE:HDB)

Verdence Capital Advisors LLC raised its position in HDFC Bank Limited (NYSE:HDB) by 18.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,150 shares of the bank’s stock after purchasing an additional 1,867 shares during the quarter. Verdence Capital Advisors LLC’s holdings in HDFC Bank were worth $782,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Royal London Asset Management Ltd. raised its holdings in shares of HDFC Bank by 234.1% in the fourth quarter. Royal London Asset Management Ltd. now owns 6,690,063 shares of the bank’s stock valued at $448,970,000 after purchasing an additional 4,687,487 shares during the last quarter. Capital World Investors lifted its position in HDFC Bank by 208.6% during the 1st quarter. Capital World Investors now owns 4,124,751 shares of the bank’s stock worth $230,862,000 after buying an additional 2,788,197 shares in the last quarter. Manning & Napier Advisors LLC acquired a new position in shares of HDFC Bank during the 2nd quarter worth about $166,709,000. PineStone Asset Management Inc. grew its holdings in shares of HDFC Bank by 115.1% in the 2nd quarter. PineStone Asset Management Inc. now owns 4,468,960 shares of the bank’s stock valued at $287,488,000 after acquiring an additional 2,391,343 shares in the last quarter. Finally, Harding Loevner LP increased its position in shares of HDFC Bank by 31.7% in the fourth quarter. Harding Loevner LP now owns 9,456,666 shares of the bank’s stock valued at $621,646,000 after acquiring an additional 2,276,203 shares during the last quarter. Institutional investors and hedge funds own 17.61% of the company’s stock.

HDFC Bank Stock Performance

NYSE HDB traded up $0.30 during trading on Monday, reaching $61.23. 1,178,837 shares of the company’s stock were exchanged, compared to its average volume of 3,154,114. HDFC Bank Limited has a fifty-two week low of $52.16 and a fifty-two week high of $67.44. The stock has a market capitalization of $113.87 billion, a P/E ratio of 18.78, a PEG ratio of 1.66 and a beta of 0.92. The business has a 50 day moving average price of $61.31 and a 200-day moving average price of $58.21. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.51 and a quick ratio of 0.51.

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

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. StockNews.com downgraded HDFC Bank from a “hold” rating to a “sell” rating in a research note on Thursday, June 13th. JPMorgan Chase & Co. lowered shares of HDFC Bank from an “overweight” rating to a “neutral” rating in a research report on Monday, July 22nd.

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.