Wealth Enhancement Advisory Services LLC Buys 1,398 Shares of HDFC Bank Limited (NYSE:HDB)

Wealth Enhancement Advisory Services LLC grew its position in shares of HDFC Bank Limited (NYSE:HDB) by 44.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,514 shares of the bank’s stock after acquiring an additional 1,398 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in HDFC Bank were worth $282,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Envestnet Portfolio Solutions Inc. grew its stake in HDFC Bank by 29.0% in the first quarter. Envestnet Portfolio Solutions Inc. now owns 28,903 shares of the bank’s stock valued at $1,618,000 after purchasing an additional 6,499 shares in the last quarter. QRG Capital Management Inc. grew its stake in shares of HDFC Bank by 2.7% in the first quarter. QRG Capital Management Inc. now owns 27,094 shares of the bank’s stock valued at $1,516,000 after buying an additional 706 shares in the last quarter. Henry James International Management Inc. raised its position in HDFC Bank by 21.2% during the first quarter. Henry James International Management Inc. now owns 56,517 shares of the bank’s stock worth $3,163,000 after acquiring an additional 9,893 shares in the last quarter. Avantax Advisory Services Inc. lifted its stake in HDFC Bank by 27.2% in the first quarter. Avantax Advisory Services Inc. now owns 17,787 shares of the bank’s stock valued at $996,000 after acquiring an additional 3,804 shares during the last quarter. Finally, William Blair Investment Management LLC grew its position in shares of HDFC Bank by 8.6% in the 1st quarter. William Blair Investment Management LLC now owns 2,414,282 shares of the bank’s stock valued at $135,129,000 after acquiring an additional 191,465 shares during the period. Institutional investors and hedge funds own 17.61% of the company’s stock.

HDFC Bank Stock Performance

NYSE:HDB opened at $64.09 on Monday. The stock has a fifty day moving average price of $62.73 and a 200-day moving average price of $60.84. HDFC Bank Limited has a fifty-two week low of $52.16 and a fifty-two week high of $67.44. The company has a market cap of $162.30 billion, a price-to-earnings ratio of 19.48, a PEG ratio of 1.69 and a beta of 0.91. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.53.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. StockNews.com raised HDFC Bank from a “sell” rating to a “hold” rating in a research report on Friday. JPMorgan Chase & Co. cut 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.