Private Advisor Group LLC Reduces Stake in HDFC Bank Limited (NYSE:HDB)

Private Advisor Group LLC cut its stake in HDFC Bank Limited (NYSE:HDB) by 3.6% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,777 shares of the bank’s stock after selling 291 shares during the quarter. Private Advisor Group LLC’s holdings in HDFC Bank were worth $500,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of the stock. Frazier Financial Advisors LLC acquired a new stake in HDFC Bank during the fourth quarter worth about $29,000. Northwest Investment Counselors LLC purchased a new position in HDFC Bank in the first quarter worth approximately $34,000. Janiczek Wealth Management LLC acquired a new stake in HDFC Bank during the first quarter worth $35,000. Ridgewood Investments LLC purchased a new stake in HDFC Bank in the second quarter valued at $36,000. Finally, LRI Investments LLC acquired a new position in shares of HDFC Bank in the 1st quarter valued at $56,000. Hedge funds and other institutional investors own 17.61% of the company’s stock.

HDFC Bank Stock Up 0.7 %

NYSE:HDB opened at $63.44 on Thursday. HDFC Bank Limited has a 52 week low of $52.16 and a 52 week high of $67.44. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 1.37. The stock’s fifty day moving average is $60.60 and its two-hundred day moving average is $59.17. The stock has a market capitalization of $117.99 billion, a price-to-earnings ratio of 19.46, a price-to-earnings-growth ratio of 1.63 and a beta of 0.92.

HDFC Bank (NYSE:HDB) last announced its 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 company had revenue of $14.03 billion during 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%. Research analysts anticipate that HDFC Bank Limited will post 2.97 EPS for the current year.

Analysts Set New Price Targets

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

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.