HDFC Bank Limited (NYSE:HDB) Shares Bought by NewEdge Advisors LLC

NewEdge Advisors LLC lifted its stake in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 4,495.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 10,754 shares of the bank's stock after acquiring an additional 10,520 shares during the quarter. NewEdge Advisors LLC's holdings in HDFC Bank were worth $687,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Whipplewood Advisors LLC bought a new stake in shares of HDFC Bank in the 4th quarter valued at about $29,000. Graney & King LLC purchased a new position in HDFC Bank during the fourth quarter valued at approximately $38,000. Brown Brothers Harriman & Co. raised its stake in HDFC Bank by 63.7% in the fourth quarter. Brown Brothers Harriman & Co. now owns 617 shares of the bank's stock worth $39,000 after buying an additional 240 shares in the last quarter. Sierra Ocean LLC purchased a new stake in HDFC Bank during the fourth quarter worth $42,000. Finally, Atlas Capital Advisors Inc. bought a new stake in HDFC Bank during the 4th quarter valued at $56,000. Institutional investors own 17.61% of the company's stock.

HDFC Bank Stock Up 1.9 %

Shares of HDB traded up $1.35 during mid-day trading on Friday, hitting $73.63. 610,814 shares of the company traded hands, compared to its average volume of 2,816,281. The company has a market capitalization of $186.45 billion, a PE ratio of 22.38, a price-to-earnings-growth ratio of 2.12 and a beta of 0.68. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 1.26. The business has a 50 day moving average of $65.54 and a 200 day moving average of $63.75. HDFC Bank Limited has a 1-year low of $54.99 and a 1-year high of $75.37.

HDFC Bank (NYSE:HDB - Get Free Report) last posted its quarterly earnings results on Saturday, April 19th. The bank reported $0.85 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.74 by $0.11. The business had revenue of $5.04 billion during the quarter, compared to analysts' expectations of $434.68 billion. HDFC Bank had a net margin of 14.64% and a return on equity of 12.19%. Equities research analysts anticipate that HDFC Bank Limited will post 3.03 EPS for the current year.

Analyst Upgrades and Downgrades

HDB has been the topic of several analyst reports. StockNews.com upgraded HDFC Bank from a "sell" rating to a "hold" rating in a research note on Thursday, April 24th. Nomura Securities upgraded shares of HDFC Bank from a "hold" rating to a "strong-buy" rating in a research note on Thursday, January 23rd. Finally, Nomura raised HDFC Bank from a "neutral" rating to a "buy" rating in a research report on Thursday, January 23rd.

About HDFC Bank

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.