ABN Amro Investment Solutions Makes New Investment in HDFC Bank Limited $HDB

ABN Amro Investment Solutions purchased a new stake in HDFC Bank Limited (NYSE:HDB) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 104,525 shares of the bank’s stock, valued at approximately $8,014,000.

A number of other large investors have also recently bought and sold shares of HDB. Principal Financial Group Inc. increased its stake in HDFC Bank by 18.0% in the 1st quarter. Principal Financial Group Inc. now owns 57,425 shares of the bank’s stock valued at $3,815,000 after buying an additional 8,746 shares during the last quarter. Cerity Partners LLC grew its position in shares of HDFC Bank by 41.6% in the first quarter. Cerity Partners LLC now owns 92,121 shares of the bank’s stock valued at $6,121,000 after purchasing an additional 27,052 shares during the last quarter. Xponance Inc. bought a new position in HDFC Bank during the 1st quarter worth $258,000. Apollon Wealth Management LLC acquired a new position in shares of HDFC Bank in the first quarter valued at about $228,000. Finally, Dakota Wealth Management bought a new position in HDFC Bank during the first quarter worth about $271,000. Institutional investors and hedge funds own 17.61% of the company’s stock.

HDFC Bank Trading Down 0.6%

Shares of NYSE HDB opened at $36.49 on Thursday. The firm has a market cap of $186.13 billion, a price-to-earnings ratio of 22.18, a price-to-earnings-growth ratio of 1.92 and a beta of 0.69. HDFC Bank Limited has a 1-year low of $28.89 and a 1-year high of $39.81. The stock has a fifty day simple moving average of $35.52 and a two-hundred day simple moving average of $36.71.

HDFC Bank (NYSE:HDB) last posted its quarterly earnings results on Saturday, October 18th. The bank reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.08. HDFC Bank had a net margin of 14.94% and a return on equity of 11.49%. The company had revenue of $4.95 billion for the quarter, compared to analyst estimates of $4.98 billion. Analysts forecast that HDFC Bank Limited will post 3.03 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on HDB. Wall Street Zen raised shares of HDFC Bank from a “sell” rating to a “hold” rating in a report on Saturday, July 26th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of HDFC Bank in a report on Wednesday, October 8th. Finally, Zacks Research raised shares of HDFC Bank from a “strong sell” rating to a “hold” rating in a research note on Monday, September 29th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, HDFC Bank currently has a consensus rating of “Moderate Buy”.

About HDFC Bank

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.