Cetera Investment Advisers Boosts Stock Position in HDFC Bank Limited (NYSE:HDB)

Key Points

• Cetera Investment Advisers increased its holdings in HDFC Bank Limited by 44.6% in Q1, totaling $1,542,000 worth of shares after acquiring an additional 7,161 shares.
• HDFC Bank's shares are trading at $74.78, with a 12-month high of $79.61 and a 12-month low of $57.78.
• The bank reported $0.74 earnings per share for the last quarter, falling short of analysts' expectations of $0.75.

Cetera Investment Advisers boosted its position in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 44.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,213 shares of the bank's stock after acquiring an additional 7,161 shares during the period. Cetera Investment Advisers' holdings in HDFC Bank were worth $1,542,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. GAMMA Investing LLC lifted its stake in shares of HDFC Bank by 6.8% in the 1st quarter. GAMMA Investing LLC now owns 2,391 shares of the bank's stock worth $159,000 after purchasing an additional 153 shares during the period. DMC Group LLC lifted its stake in shares of HDFC Bank by 2.5% in the 1st quarter. DMC Group LLC now owns 7,418 shares of the bank's stock worth $493,000 after purchasing an additional 181 shares during the period. Platform Technology Partners lifted its stake in shares of HDFC Bank by 2.7% in the 1st quarter. Platform Technology Partners now owns 7,644 shares of the bank's stock worth $508,000 after purchasing an additional 201 shares during the period. Portside Wealth Group LLC lifted its stake in shares of HDFC Bank by 2.7% in the 1st quarter. Portside Wealth Group LLC now owns 9,014 shares of the bank's stock worth $599,000 after purchasing an additional 241 shares during the period. Finally, Eagle Global Advisors LLC lifted its stake in shares of HDFC Bank by 0.4% in the 4th quarter. Eagle Global Advisors LLC now owns 84,660 shares of the bank's stock worth $5,406,000 after purchasing an additional 305 shares during the period. Hedge funds and other institutional investors own 17.61% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of HDFC Bank from a "sell" rating to a "hold" rating in a research note on Saturday, July 26th.

HDFC Bank Price Performance

Shares of NYSE:HDB traded down $0.24 during trading on Tuesday, hitting $73.85. The company's stock had a trading volume of 1,501,822 shares, compared to its average volume of 1,855,890. The company has a 50-day moving average of $76.08 and a 200-day moving average of $69.64. HDFC Bank Limited has a 12 month low of $57.78 and a 12 month high of $79.61. The firm has a market cap of $188.37 billion, a price-to-earnings ratio of 22.65, a P/E/G ratio of 1.85 and a beta of 0.64.

HDFC Bank (NYSE:HDB - Get Free Report) last released its earnings results on Saturday, July 19th. The bank reported $0.74 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.75 by ($0.01). HDFC Bank had a return on equity of 11.60% and a net margin of 14.49%. The firm had revenue of $5.10 billion during the quarter, compared to analysts' expectations of $5.03 billion. As a group, research analysts anticipate that HDFC Bank Limited will post 3.03 earnings per share 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.