abrdn plc Increases Stake in HDFC Bank Limited (NYSE:HDB)

abrdn plc raised its position in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 23.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 367,484 shares of the bank's stock after acquiring an additional 68,857 shares during the quarter. abrdn plc's holdings in HDFC Bank were worth $23,381,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Pin Oak Investment Advisors Inc. grew its holdings in shares of HDFC Bank by 104.1% during the third quarter. Pin Oak Investment Advisors Inc. now owns 498 shares of the bank's stock worth $31,000 after buying an additional 254 shares in the last quarter. Northwest Investment Counselors LLC purchased a new position in HDFC Bank in the 3rd quarter worth approximately $38,000. JFS Wealth Advisors LLC boosted its holdings in shares of HDFC Bank by 70.2% during the 3rd quarter. JFS Wealth Advisors LLC now owns 667 shares of the bank's stock worth $42,000 after purchasing an additional 275 shares during the last quarter. RPg Family Wealth Advisory LLC purchased a new stake in shares of HDFC Bank in the third quarter valued at approximately $65,000. Finally, GAMMA Investing LLC increased its holdings in shares of HDFC Bank by 34.6% in the third quarter. GAMMA Investing LLC now owns 1,215 shares of the bank's stock valued at $76,000 after purchasing an additional 312 shares during the last quarter. Hedge funds and other institutional investors own 17.61% of the company's stock.

HDFC Bank Trading Down 1.1 %

Shares of NYSE HDB opened at $60.58 on Tuesday. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 1.26. The stock has a market capitalization of $153.39 billion, a PE ratio of 18.41, a PEG ratio of 1.70 and a beta of 0.91. HDFC Bank Limited has a twelve month low of $52.16 and a twelve month high of $68.50. The stock has a fifty day simple moving average of $62.76 and a 200-day simple moving average of $62.41.

HDFC Bank (NYSE:HDB - Get Free Report) last issued its quarterly earnings results on Wednesday, January 22nd. The bank reported $0.82 earnings per share (EPS) 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%. On average, equities analysts forecast that HDFC Bank Limited will post 3.09 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on HDB shares. Nomura Securities raised shares of HDFC Bank from a "hold" rating to a "strong-buy" rating in a report on Thursday, January 23rd. StockNews.com lowered shares of HDFC Bank from a "hold" rating to a "sell" rating in a research report on Wednesday, November 27th. Finally, Nomura upgraded 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.