Dakota Wealth Management Makes New Investment in HDFC Bank Limited (NYSE:HDB)

Dakota Wealth Management purchased a new stake in HDFC Bank Limited (NYSE:HDB - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 4,074 shares of the bank's stock, valued at approximately $271,000.

A number of other institutional investors also recently bought and sold shares of HDB. OVERSEA CHINESE BANKING Corp Ltd grew its stake in shares of HDFC Bank by 6,502.2% in the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 5,868,259 shares of the bank's stock valued at $389,887,000 after buying an additional 5,779,375 shares in the last quarter. Apollon Wealth Management LLC acquired a new position in shares of HDFC Bank in the 1st quarter worth $228,000. Platform Technology Partners grew its holdings in shares of HDFC Bank by 2.7% during the first quarter. Platform Technology Partners now owns 7,644 shares of the bank's stock valued at $508,000 after buying an additional 201 shares in the last quarter. Xponance Inc. purchased a new position in shares of HDFC Bank during the first quarter valued at $258,000. Finally, Genus Capital Management Inc. grew its holdings in shares of HDFC Bank by 200.0% during the first quarter. Genus Capital Management Inc. now owns 9,752 shares of the bank's stock valued at $648,000 after buying an additional 19,504 shares in the last quarter. 17.61% of the stock is currently owned by hedge funds and other institutional investors.

HDFC Bank Price Performance

HDB stock opened at $76.16 on Friday. HDFC Bank Limited has a 12-month low of $57.24 and a 12-month high of $78.14. The company has a current ratio of 0.07, a quick ratio of 0.09 and a debt-to-equity ratio of 1.26. The firm's 50-day moving average price is $74.95 and its two-hundred day moving average price is $67.59. The stock has a market capitalization of $192.85 billion, a price-to-earnings ratio of 23.08, a PEG ratio of 1.87 and a beta of 0.64.

HDFC Bank (NYSE:HDB - Get Free Report) last issued its earnings results on Saturday, April 19th. The bank reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.11. HDFC Bank had a net margin of 15.02% and a return on equity of 13.85%. The firm had revenue of $5.04 billion for the quarter, compared to the consensus estimate of $434.68 billion. As a group, equities analysts predict that HDFC Bank Limited will post 3.03 earnings per share for the current year.

Analyst Ratings Changes

Separately, Wall Street Zen raised HDFC Bank from a "sell" rating to a "hold" rating in a research report on Wednesday, May 14th.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.