Oppenheimer Asset Management Inc. Buys 49,431 Shares of HDFC Bank Limited (NYSE:HDB)

Oppenheimer Asset Management Inc. lifted its position in HDFC Bank Limited (NYSE:HDB) by 33.9% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 195,254 shares of the bank’s stock after purchasing an additional 49,431 shares during the period. Oppenheimer Asset Management Inc.’s holdings in HDFC Bank were worth $12,561,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Private Advisor Group LLC raised its stake in shares of HDFC Bank by 2.3% during the fourth quarter. Private Advisor Group LLC now owns 9,853 shares of the bank’s stock valued at $661,000 after acquiring an additional 218 shares during the last quarter. Principal Securities Inc. bought a new position in HDFC Bank during the 4th quarter valued at approximately $82,000. Envestnet Portfolio Solutions Inc. lifted its holdings in HDFC Bank by 0.8% in the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 22,404 shares of the bank’s stock worth $1,504,000 after buying an additional 183 shares during the period. Avantax Advisory Services Inc. grew its position in shares of HDFC Bank by 10.2% in the 4th quarter. Avantax Advisory Services Inc. now owns 13,983 shares of the bank’s stock worth $938,000 after buying an additional 1,300 shares during the last quarter. Finally, Janney Montgomery Scott LLC increased its stake in shares of HDFC Bank by 5.4% during the fourth quarter. Janney Montgomery Scott LLC now owns 12,247 shares of the bank’s stock valued at $822,000 after buying an additional 625 shares during the period. 17.61% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

HDB has been the topic of several recent analyst reports. StockNews.com cut shares of HDFC Bank from a “hold” rating to a “sell” rating in a report 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 Stock Up 0.2 %

NYSE:HDB opened at $62.60 on Friday. HDFC Bank Limited has a 1-year low of $52.16 and a 1-year high of $67.44. The company has a market capitalization of $158.52 billion, a PE ratio of 19.20, a P/E/G ratio of 1.63 and a beta of 0.92. The firm’s 50-day moving average price is $60.48 and its 200-day moving average price is $58.97. 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 issued its quarterly earnings results on Monday, July 22nd. The bank reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.27. The firm had revenue of $14.03 billion for the quarter, compared to analysts’ expectations of $4.81 billion. HDFC Bank had a return on equity of 12.64% and a net margin of 14.69%. On average, equities analysts predict that HDFC Bank Limited will post 2.97 EPS for the current fiscal year.

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.