NewEdge Wealth LLC Sells 4,548 Shares of HDFC Bank Limited (NYSE:HDB)

NewEdge Wealth LLC trimmed its position in HDFC Bank Limited (NYSE:HDB - Free Report) by 15.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,908 shares of the bank's stock after selling 4,548 shares during the quarter. NewEdge Wealth LLC's holdings in HDFC Bank were worth $1,591,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Pin Oak Investment Advisors Inc. increased its position in HDFC Bank by 104.1% in the third quarter. Pin Oak Investment Advisors Inc. now owns 498 shares of the bank's stock worth $31,000 after purchasing an additional 254 shares during the period. Sierra Ocean LLC acquired a new stake in HDFC Bank in the fourth quarter worth about $42,000. JFS Wealth Advisors LLC increased its position in HDFC Bank by 70.2% in the third 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. Kestra Investment Management LLC acquired a new stake in HDFC Bank in the fourth quarter worth about $60,000. Finally, RPg Family Wealth Advisory LLC acquired a new stake in HDFC Bank in the third quarter worth about $65,000. 17.61% of the stock is currently owned by institutional investors and hedge funds.

HDFC Bank Trading Up 1.0 %

HDB traded up $0.60 during midday trading on Wednesday, reaching $60.30. 2,619,174 shares of the company were exchanged, compared to its average volume of 2,616,856. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.09 and a current ratio of 0.09. HDFC Bank Limited has a one year low of $54.07 and a one year high of $68.50. The stock has a market capitalization of $152.69 billion, a P/E ratio of 18.33, a PEG ratio of 2.12 and a beta of 0.91. The stock's 50-day simple moving average is $60.60 and its 200 day simple moving average is $62.45.

Remove Ads

HDFC Bank (NYSE:HDB - Get Free Report) last issued its 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 return on equity of 12.19% and a net margin of 14.64%. As a group, analysts forecast that HDFC Bank Limited will post 3.03 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Nomura Securities upgraded HDFC Bank from a "hold" rating to a "strong-buy" rating in a research report on Thursday, January 23rd. StockNews.com cut HDFC Bank from a "hold" rating to a "sell" rating in a report on Wednesday, November 27th. Finally, Nomura upgraded HDFC Bank from a "neutral" rating to a "buy" rating in a report on Thursday, January 23rd.

HDFC Bank 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.