Logan Capital Management Inc. lessened its stake in HDFC Bank Limited (NYSE:HDB - Free Report) by 65.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,338 shares of the bank's stock after selling 13,964 shares during the quarter. Logan Capital Management Inc.'s holdings in HDFC Bank were worth $459,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of the stock. Pin Oak Investment Advisors Inc. boosted its holdings in 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. Ridgewood Investments LLC acquired a new stake in shares of HDFC Bank during the 2nd quarter valued at about $36,000. Northwest Investment Counselors LLC purchased a new position in shares of HDFC Bank in the 3rd quarter valued at about $38,000. JFS Wealth Advisors LLC raised its holdings in HDFC Bank by 70.2% in 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 period. Finally, RPg Family Wealth Advisory LLC purchased a new position in HDFC Bank during the third quarter worth approximately $65,000. Hedge funds and other institutional investors own 17.61% of the company's stock.
HDFC Bank Price Performance
HDB traded up $0.38 during midday trading on Friday, hitting $67.00. 2,005,780 shares of the company traded hands, compared to its average volume of 3,002,899. The company has a market capitalization of $169.66 billion, a price-to-earnings ratio of 20.36, a PEG ratio of 1.79 and a beta of 0.92. The business has a 50 day simple moving average of $64.05 and a two-hundred day simple moving average of $62.27. The company has a current ratio of 0.53, a quick ratio of 0.53 and a debt-to-equity ratio of 1.34. HDFC Bank Limited has a 52-week low of $52.16 and a 52-week high of $68.50.
HDFC Bank (NYSE:HDB - Get Free Report) last released its quarterly earnings results on Saturday, October 19th. The bank reported $0.85 earnings per share for the quarter, topping 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 firm had revenue of $9.21 billion during the quarter, compared to the consensus estimate of $4.84 billion. On average, equities analysts forecast that HDFC Bank Limited will post 3.15 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Separately, StockNews.com cut HDFC Bank from a "hold" rating to a "sell" rating in a research report on Wednesday, November 27th.
Check Out Our Latest Analysis on HDFC Bank
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.
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