NewEdge Wealth LLC Raises Stock Position in HDFC Bank Limited (NYSE:HDB)

NewEdge Wealth LLC increased its position in shares of HDFC Bank Limited (NYSE:HDB) by 15.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,784 shares of the bank’s stock after buying an additional 4,296 shares during the period. NewEdge Wealth LLC’s holdings in HDFC Bank were worth $2,133,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Fithian LLC purchased a new stake in HDFC Bank during the 4th quarter worth $1,319,000. Skandinaviska Enskilda Banken AB publ purchased a new stake in HDFC Bank during the 3rd quarter worth $27,000. NBC Securities Inc. purchased a new stake in HDFC Bank during the 3rd quarter worth $29,000. Resurgent Financial Advisors LLC purchased a new stake in HDFC Bank during the 4th quarter worth $40,000. Finally, FinTrust Capital Advisors LLC increased its stake in HDFC Bank by 36.4% during the 3rd quarter. FinTrust Capital Advisors LLC now owns 693 shares of the bank’s stock worth $41,000 after buying an additional 185 shares during the period. Hedge funds and other institutional investors own 17.61% of the company’s stock.

HDFC Bank Stock Performance

HDFC Bank stock opened at $57.05 on Monday. HDFC Bank Limited has a 12-month low of $52.16 and a 12-month high of $71.39. The company has a market capitalization of $106.11 billion, a price-to-earnings ratio of 17.61, a price-to-earnings-growth ratio of 1.41 and a beta of 0.87. The company has a debt-to-equity ratio of 1.78, a current ratio of 0.52 and a quick ratio of 0.52. The firm’s fifty day moving average price is $55.45 and its 200 day moving average price is $58.63.

HDFC Bank (NYSE:HDB) last released its earnings results on Tuesday, January 16th. The bank reported $0.82 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.11. The company had revenue of $8.62 billion during the quarter, compared to the consensus estimate of $5.67 billion. HDFC Bank had a net margin of 17.34% and a return on equity of 15.98%. On average, research analysts forecast that HDFC Bank Limited will post 2.71 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.