HDFC Bank Limited (NYSE:HDB) Shares Purchased by IFP Advisors Inc

IFP Advisors Inc boosted its position in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 65.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,319 shares of the bank's stock after buying an additional 3,306 shares during the quarter. IFP Advisors Inc's holdings in HDFC Bank were worth $553,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings in HDFC Bank by 6.8% during the first quarter. GAMMA Investing LLC now owns 2,391 shares of the bank's stock valued at $159,000 after purchasing an additional 153 shares in the last quarter. DMC Group LLC lifted its holdings in HDFC Bank by 2.5% during the first quarter. DMC Group LLC now owns 7,418 shares of the bank's stock valued at $493,000 after purchasing an additional 181 shares in the last quarter. Platform Technology Partners lifted its holdings in 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 purchasing an additional 201 shares in the last quarter. Brown Brothers Harriman & Co. lifted its holdings in HDFC Bank by 63.7% during the fourth quarter. Brown Brothers Harriman & Co. now owns 617 shares of the bank's stock valued at $39,000 after purchasing an additional 240 shares in the last quarter. Finally, Level Four Advisory Services LLC lifted its holdings in HDFC Bank by 3.6% during the fourth quarter. Level Four Advisory Services LLC now owns 6,855 shares of the bank's stock valued at $438,000 after purchasing an additional 241 shares in the last quarter. Institutional investors and hedge funds own 17.61% of the company's stock.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of HDFC Bank from a "sell" rating to a "hold" rating in a report on Saturday.

HDFC Bank Stock Performance

Shares of NYSE HDB traded down $0.14 during mid-day trading on Friday, reaching $77.86. The company's stock had a trading volume of 1,340,327 shares, compared to its average volume of 1,823,866. The stock has a 50-day moving average of $75.62 and a two-hundred day moving average of $68.21. The stock has a market capitalization of $197.18 billion, a P/E ratio of 23.88, a P/E/G ratio of 1.94 and a beta of 0.64. HDFC Bank Limited has a 1-year low of $57.24 and a 1-year high of $79.61.

HDFC Bank (NYSE:HDB - Get Free Report) last issued its earnings results on Saturday, July 19th. The bank reported $0.74 EPS for the quarter, missing analysts' consensus estimates of $0.75 by ($0.01). The business had revenue of $5.10 billion during the quarter, compared to analyst estimates of $5.03 billion. HDFC Bank had a net margin of 14.49% and a return on equity of 11.60%. Analysts predict that HDFC Bank Limited will post 3.03 EPS for the current fiscal 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.