Spire Wealth Management Buys 3,531 Shares of HDFC Bank Limited (NYSE:HDB)

Spire Wealth Management increased its position in HDFC Bank Limited (NYSE:HDB - Free Report) by 771.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,989 shares of the bank's stock after purchasing an additional 3,531 shares during the period. Spire Wealth Management's holdings in HDFC Bank were worth $265,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GQG Partners LLC lifted its holdings in shares of HDFC Bank by 74.4% during the fourth quarter. GQG Partners LLC now owns 7,883,347 shares of the bank's stock valued at $503,431,000 after purchasing an additional 3,364,114 shares in the last quarter. Schroder Investment Management Group lifted its stake in HDFC Bank by 82.1% during the 4th quarter. Schroder Investment Management Group now owns 7,008,828 shares of the bank's stock valued at $447,584,000 after acquiring an additional 3,160,533 shares during the period. FIL Ltd boosted its holdings in shares of HDFC Bank by 17.5% during the 4th quarter. FIL Ltd now owns 17,467,131 shares of the bank's stock valued at $1,115,451,000 after acquiring an additional 2,599,337 shares during the last quarter. Royal Bank of Canada boosted its holdings in shares of HDFC Bank by 43.0% during the 4th quarter. Royal Bank of Canada now owns 7,307,074 shares of the bank's stock valued at $466,629,000 after acquiring an additional 2,196,315 shares during the last quarter. Finally, National Bank of Canada FI grew its stake in shares of HDFC Bank by 3,535.1% in 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 during the period. 17.61% of the stock is owned by hedge funds and other institutional investors.

HDFC Bank Stock Performance

HDFC Bank stock traded down $0.02 during mid-day trading on Thursday, reaching $76.16. 1,618,943 shares of the stock traded hands, compared to its average volume of 2,739,453. HDFC Bank Limited has a 12-month low of $57.24 and a 12-month high of $78.14. The business's 50-day moving average is $74.16 and its 200-day moving average is $66.75. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.07 and a quick ratio of 0.09. The stock has a market capitalization of $192.86 billion, a PE ratio of 23.08, a price-to-earnings-growth ratio of 1.83 and a beta of 0.64.

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

Analyst Ratings Changes

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

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.