PNC Financial Services Group Inc. grew its position in shares of HDFC Bank Limited (NYSE:HDB - Free Report) by 23.5% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 93,741 shares of the bank's stock after purchasing an additional 17,823 shares during the quarter. PNC Financial Services Group Inc.'s holdings in HDFC Bank were worth $5,864,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Ridgewood Investments LLC bought a new stake in shares of HDFC Bank in the 2nd quarter valued at $36,000. Northwest Investment Counselors LLC bought a new stake in shares of HDFC Bank in the 3rd quarter valued at $38,000. JFS Wealth Advisors LLC increased its stake in shares of HDFC Bank by 70.2% in the 3rd quarter. JFS Wealth Advisors LLC now owns 667 shares of the bank's stock valued at $42,000 after acquiring an additional 275 shares in the last quarter. LRI Investments LLC bought a new stake in shares of HDFC Bank in the 1st quarter valued at $56,000. Finally, GAMMA Investing LLC increased its stake in shares of HDFC Bank by 56.0% in the 2nd quarter. GAMMA Investing LLC now owns 903 shares of the bank's stock valued at $58,000 after acquiring an additional 324 shares in the last quarter. Institutional investors own 17.61% of the company's stock.
HDFC Bank Trading Up 1.4 %
Shares of NYSE:HDB traded up $0.92 during mid-day trading on Friday, hitting $64.50. The company had a trading volume of 3,146,367 shares, compared to its average volume of 1,923,843. The firm has a fifty day moving average price of $63.03 and a 200 day moving average price of $61.17. The company has a market capitalization of $163.33 billion, a PE ratio of 19.60, a price-to-earnings-growth ratio of 1.69 and a beta of 0.91. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.53 and a quick ratio of 0.53. HDFC Bank Limited has a one year low of $52.16 and a one year high of $67.44.
HDFC Bank (NYSE:HDB - Get Free Report) last posted its quarterly earnings results on Saturday, October 19th. The bank reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.09. HDFC Bank had a net margin of 14.48% and a return on equity of 12.49%. The business had revenue of $9.21 billion during the quarter, compared to the consensus estimate of $4.84 billion. As a group, research analysts forecast that HDFC Bank Limited will post 3.15 EPS for the current year.
Wall Street Analyst Weigh In
Separately, StockNews.com upgraded shares of HDFC Bank from a "sell" rating to a "hold" rating in a research note on Friday, November 8th.
Read Our Latest Stock Analysis on HDB
About HDFC Bank
(
Free Report)
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.
Read More
Before you consider HDFC Bank, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and HDFC Bank wasn't on the list.
While HDFC Bank currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Click the link below and we'll send you MarketBeat's guide to investing in 5G and which 5G stocks show the most promise.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
