Foster Victor Wealth Advisors LLC Raises Holdings in HDFC Bank Limited (NYSE:HDB)

Foster Victor Wealth Advisors LLC boosted its position in HDFC Bank Limited (NYSE:HDB) by 13.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 4,780 shares of the bank’s stock after acquiring an additional 584 shares during the period. Foster Victor Wealth Advisors LLC’s holdings in HDFC Bank were worth $287,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Capital World Investors grew its position in shares of HDFC Bank by 208.6% in 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 during the last quarter. Manning & Napier Advisors LLC purchased a new stake in HDFC Bank in the second quarter worth $166,709,000. PineStone Asset Management Inc. boosted its holdings in HDFC Bank by 115.1% in the second 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. CCLA Investment Management increased its position in HDFC Bank by 100,691.5% during the 1st quarter. CCLA Investment Management now owns 1,748,733 shares of the bank’s stock valued at $97,534,000 after purchasing an additional 1,746,998 shares during the period. Finally, Sustainable Growth Advisers LP raised its holdings in HDFC Bank by 24.1% in the 1st quarter. Sustainable Growth Advisers LP now owns 8,824,089 shares of the bank’s stock worth $493,884,000 after purchasing an additional 1,711,784 shares in the last quarter. 17.61% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

HDB has been the subject of a number of research reports. JPMorgan Chase & Co. downgraded shares of HDFC Bank from an “overweight” rating to a “neutral” rating in a research note on Monday, July 22nd. StockNews.com lowered HDFC Bank from a “hold” rating to a “sell” rating in a research report on Saturday, October 12th.

HDFC Bank Stock Performance

Shares of HDB stock opened at $62.29 on Thursday. The company’s fifty day moving average price is $61.67 and its 200-day moving average price is $60.16. The stock has a market cap of $115.85 billion, a PE ratio of 19.11, a price-to-earnings-growth ratio of 1.95 and a beta of 0.92. The company has a current ratio of 0.51, a quick ratio of 0.51 and a debt-to-equity ratio of 1.37. HDFC Bank Limited has a 12 month low of $52.16 and a 12 month high of $67.44.

HDFC Bank (NYSE:HDB) last announced its quarterly earnings data on Monday, July 22nd. The bank reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.27. HDFC Bank had a net margin of 14.69% and a return on equity of 12.64%. The business had revenue of $14.03 billion for the quarter, compared to analysts’ expectations of $4.81 billion. On average, equities analysts expect that HDFC Bank Limited will post 2.96 EPS for the current fiscal 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.