Ritholtz Wealth Management Has $1.03 Million Position in HDFC Bank Limited $HDB

Ritholtz Wealth Management lifted its position in HDFC Bank Limited (NYSE:HDB) by 136.8% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,280 shares of the bank’s stock after acquiring an additional 17,495 shares during the period. Ritholtz Wealth Management’s holdings in HDFC Bank were worth $1,034,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Central Pacific Bank Trust Division increased its stake in HDFC Bank by 100.0% in the third quarter. Central Pacific Bank Trust Division now owns 758 shares of the bank’s stock valued at $26,000 after purchasing an additional 379 shares in the last quarter. Roxbury Financial LLC grew its holdings in shares of HDFC Bank by 194.9% in the 3rd quarter. Roxbury Financial LLC now owns 1,162 shares of the bank’s stock valued at $40,000 after buying an additional 768 shares during the period. Whipplewood Advisors LLC grew its holdings in shares of HDFC Bank by 112.0% in the 2nd quarter. Whipplewood Advisors LLC now owns 549 shares of the bank’s stock valued at $42,000 after buying an additional 290 shares during the period. Park Place Capital Corp increased its position in shares of HDFC Bank by 100.0% in the 3rd quarter. Park Place Capital Corp now owns 1,426 shares of the bank’s stock valued at $49,000 after buying an additional 713 shares in the last quarter. Finally, NewSquare Capital LLC raised its stake in HDFC Bank by 136.4% during the 2nd quarter. NewSquare Capital LLC now owns 676 shares of the bank’s stock worth $52,000 after buying an additional 390 shares during the period. Institutional investors own 17.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on HDB. Zacks Research upgraded HDFC Bank from a “strong sell” rating to a “hold” rating in a report on Monday, September 29th. Wall Street Zen lowered HDFC Bank from a “hold” rating to a “sell” rating in a research report on Saturday, January 3rd. Finally, Weiss Ratings cut HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, January 12th. One research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

HDFC Bank Price Performance

HDB opened at $32.66 on Tuesday. The business’s 50-day moving average price is $35.50 and its two-hundred day moving average price is $36.14. HDFC Bank Limited has a 1 year low of $29.01 and a 1 year high of $39.81. The company has a market capitalization of $166.60 billion, a price-to-earnings ratio of 19.85, a P/E/G ratio of 1.32 and a beta of 0.57.

HDFC Bank (NYSE:HDB) last posted its quarterly earnings data on Saturday, October 18th. The bank reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.36 by $0.08. HDFC Bank had a return on equity of 11.49% and a net margin of 14.94%.The company had revenue of $8.08 billion during the quarter, compared to analysts’ expectations of $4.98 billion. Sell-side analysts anticipate that HDFC Bank Limited will post 3.03 earnings per share for the current fiscal year.

HDFC Bank Company Profile

HDFC Bank Limited is one of India’s leading private sector banks, headquartered in Mumbai. Incorporated in 1994 and promoted by Housing Development Finance Corporation (HDFC), the bank provides a full range of banking and financial services to retail, small and medium-sized enterprises, and corporate customers. It is publicly listed and also accessible to international investors through American Depositary Receipts (ADRs) trading on the New York Stock Exchange under the symbol HDB.

The bank’s core activities include retail banking (deposit accounts, personal loans, home loans, auto loans, and credit cards), commercial and corporate banking (working capital finance, term lending, trade finance and treasury services), and transaction banking (cash management and payment solutions).