Cerity Partners LLC Purchases 27,052 Shares of HDFC Bank Limited (NYSE:HDB)

Cerity Partners LLC boosted its position in HDFC Bank Limited (NYSE:HDB - Free Report) by 41.6% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 92,121 shares of the bank's stock after purchasing an additional 27,052 shares during the period. Cerity Partners LLC's holdings in HDFC Bank were worth $6,121,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in HDB. Northern Trust Corp lifted its holdings in shares of HDFC Bank by 52.0% in the fourth quarter. Northern Trust Corp now owns 1,015,588 shares of the bank's stock valued at $64,855,000 after buying an additional 347,488 shares during the period. Tudor Investment Corp ET AL bought a new position in shares of HDFC Bank during the 4th quarter valued at about $580,000. Ovata Capital Management Ltd grew its stake in shares of HDFC Bank by 89.7% in the 4th quarter. Ovata Capital Management Ltd now owns 690,320 shares of the bank's stock worth $43,863,000 after purchasing an additional 326,400 shares during the last quarter. Summit Global Investments lifted its stake in HDFC Bank by 46.8% during the fourth quarter. Summit Global Investments now owns 13,199 shares of the bank's stock valued at $843,000 after purchasing an additional 4,210 shares during the last quarter. Finally, ARGA Investment Management LP boosted its holdings in HDFC Bank by 7.2% during the first quarter. ARGA Investment Management LP now owns 1,553,975 shares of the bank's stock worth $103,246,000 after buying an additional 104,162 shares in the last quarter. 17.61% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

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

HDFC Bank Trading Down 1.1%

Shares of HDB stock traded down $0.84 during trading hours on Friday, reaching $75.30. 2,937,759 shares of the stock traded hands, compared to its average volume of 2,691,395. The business has a fifty day moving average price of $74.95 and a 200 day moving average price of $67.59. HDFC Bank Limited has a 1-year low of $57.24 and a 1-year high of $78.14. The company has a quick ratio of 0.09, a current ratio of 0.07 and a debt-to-equity ratio of 1.26. The firm has a market capitalization of $190.68 billion, a PE ratio of 22.82, a PEG ratio of 1.87 and a beta of 0.64.

HDFC Bank (NYSE:HDB - Get Free Report) last released its earnings results on Saturday, April 19th. The bank reported $0.85 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.74 by $0.11. HDFC Bank had a return on equity of 13.85% and a net margin of 15.02%. The company had revenue of $5.04 billion during the quarter, compared to analyst estimates of $434.68 billion. On average, equities research analysts forecast that HDFC Bank Limited will post 3.03 EPS for the current year.

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.