Sagespring Wealth Partners LLC Takes $366,000 Position in HDFC Bank Limited (NYSE:HDB)

Sagespring Wealth Partners LLC purchased a new stake in HDFC Bank Limited (NYSE:HDB - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 5,735 shares of the bank's stock, valued at approximately $366,000.

Several other large investors have also modified their holdings of HDB. Waverton Investment Management Ltd raised its stake in HDFC Bank by 1.0% during the 4th quarter. Waverton Investment Management Ltd now owns 19,963 shares of the bank's stock valued at $1,275,000 after acquiring an additional 203 shares during the last quarter. Brown Brothers Harriman & Co. grew its stake in HDFC Bank by 63.7% in the 4th quarter. Brown Brothers Harriman & Co. now owns 617 shares of the bank's stock worth $39,000 after acquiring an additional 240 shares during the period. Level Four Advisory Services LLC boosted its stake in HDFC Bank by 3.6% in the 4th quarter. Level Four Advisory Services LLC now owns 6,855 shares of the bank's stock worth $438,000 after buying an additional 241 shares during the last quarter. Baron Wealth Management LLC raised its stake in HDFC Bank by 3.7% during the fourth quarter. Baron Wealth Management LLC now owns 7,360 shares of the bank's stock worth $470,000 after purchasing an additional 263 shares during the period. Finally, Principal Securities Inc. grew its position in HDFC Bank by 13.0% during the fourth quarter. Principal Securities Inc. now owns 2,305 shares of the bank's stock valued at $147,000 after acquiring an additional 265 shares during the period. Institutional investors and hedge funds own 17.61% of the company's stock.

HDFC Bank Stock Up 4.2 %

HDB traded up $2.93 on Friday, reaching $72.19. The company's stock had a trading volume of 5,530,201 shares, compared to its average volume of 2,802,875. HDFC Bank Limited has a 1 year low of $54.99 and a 1 year high of $72.34. The business's 50 day moving average is $63.27 and its 200 day moving average is $63.01. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.09 and a quick ratio of 0.09. The stock has a market cap of $182.80 billion, a price-to-earnings ratio of 21.94, a price-to-earnings-growth ratio of 2.12 and a beta of 0.68.

HDFC Bank (NYSE:HDB - Get Free Report) last released its quarterly earnings results on Wednesday, January 22nd. The bank reported $0.82 earnings per share for the quarter, topping analysts' consensus estimates of $0.74 by $0.08. HDFC Bank had a net margin of 14.64% and a return on equity of 12.19%. As a group, research analysts forecast that HDFC Bank Limited will post 3.03 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on HDB. Nomura upgraded HDFC Bank from a "neutral" rating to a "buy" rating in a report on Thursday, January 23rd. Nomura Securities raised shares of HDFC Bank from a "hold" rating to a "strong-buy" rating in a research note on Thursday, January 23rd.

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.