IFP Advisors Inc Has $553,000 Position in HDFC Bank Limited (NYSE:HDB)

IFP Advisors Inc raised its position in HDFC Bank Limited (NYSE:HDB - Free Report) by 65.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,319 shares of the bank's stock after purchasing an additional 3,306 shares during the period. IFP Advisors Inc's holdings in HDFC Bank were worth $553,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of the company. OVERSEA CHINESE BANKING Corp Ltd increased its position in shares of HDFC Bank by 6,502.2% during the first quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 5,868,259 shares of the bank's stock worth $389,887,000 after acquiring an additional 5,779,375 shares in the last quarter. Schroder Investment Management Group increased its position in shares of HDFC Bank by 82.1% during the fourth quarter. Schroder Investment Management Group now owns 7,008,828 shares of the bank's stock worth $447,584,000 after acquiring an additional 3,160,533 shares in the last quarter. FIL Ltd increased its position in shares of HDFC Bank by 17.5% during the fourth quarter. FIL Ltd now owns 17,467,131 shares of the bank's stock worth $1,115,451,000 after acquiring an additional 2,599,337 shares in the last quarter. Royal Bank of Canada increased its position in shares of HDFC Bank by 43.0% during the fourth quarter. Royal Bank of Canada now owns 7,307,074 shares of the bank's stock worth $466,629,000 after acquiring an additional 2,196,315 shares in the last quarter. Finally, National Bank of Canada FI increased its position in shares of HDFC Bank by 3,535.1% during the fourth quarter. National Bank of Canada FI now owns 1,921,668 shares of the bank's stock worth $122,718,000 after acquiring an additional 1,868,804 shares in the last quarter. 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 report on Saturday.

HDFC Bank Stock Down 1.4%

HDB traded down $1.11 during trading hours on Monday, hitting $76.74. 327,097 shares of the company's stock were exchanged, compared to its average volume of 2,668,786. HDFC Bank Limited has a 1-year low of $57.24 and a 1-year high of $79.61. The stock's 50-day moving average is $75.62 and its two-hundred day moving average is $68.31. The stock has a market cap of $194.32 billion, a price-to-earnings ratio of 23.56, a PEG ratio of 1.94 and a beta of 0.64.

HDFC Bank (NYSE:HDB - Get Free Report) last announced its earnings results on Saturday, July 19th. The bank reported $0.74 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 business had revenue of $5.10 billion for the quarter, compared to analyst estimates of $5.03 billion. On average, equities research analysts anticipate that HDFC Bank Limited will post 3.03 EPS for the current year.

HDFC Bank Company 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.