Tobam Has $2.56 Million Stake in HDFC Bank Limited $HDB

Tobam decreased its holdings in shares of HDFC Bank Limited (NYSE:HDB) by 11.2% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 33,447 shares of the bank’s stock after selling 4,204 shares during the quarter. Tobam’s holdings in HDFC Bank were worth $2,564,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Financial Perspectives Inc raised its position in shares of HDFC Bank by 1.3% in the 2nd quarter. Financial Perspectives Inc now owns 10,769 shares of the bank’s stock valued at $826,000 after acquiring an additional 136 shares during the period. Huntington National Bank lifted its position in HDFC Bank by 13.3% in the 2nd quarter. Huntington National Bank now owns 1,349 shares of the bank’s stock valued at $103,000 after acquiring an additional 158 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in HDFC Bank by 1.3% in the 2nd quarter. Nisa Investment Advisors LLC now owns 14,694 shares of the bank’s stock worth $1,127,000 after purchasing an additional 194 shares during the period. Rehmann Capital Advisory Group increased its holdings in HDFC Bank by 1.5% during the 2nd quarter. Rehmann Capital Advisory Group now owns 15,022 shares of the bank’s stock worth $1,152,000 after purchasing an additional 215 shares in the last quarter. Finally, Naples Global Advisors LLC lifted its holdings in shares of HDFC Bank by 0.9% in the second quarter. Naples Global Advisors LLC now owns 29,154 shares of the bank’s stock valued at $2,235,000 after purchasing an additional 265 shares in the last quarter. 17.61% of the stock is currently owned by institutional investors and hedge funds.

HDFC Bank Stock Performance

Shares of HDB stock opened at $36.73 on Wednesday. HDFC Bank Limited has a 52-week low of $28.89 and a 52-week high of $39.81. The stock has a market cap of $187.36 billion, a price-to-earnings ratio of 22.33, a PEG ratio of 1.92 and a beta of 0.69. The firm’s 50-day moving average is $35.50 and its 200-day moving average is $36.71.

HDFC Bank (NYSE:HDB) last released its quarterly earnings data on Saturday, October 18th. The bank reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.08. HDFC Bank had a return on equity of 11.49% and a net margin of 14.94%.The company had revenue of $4.95 billion during the quarter, compared to analysts’ expectations of $4.98 billion. Sell-side analysts predict that HDFC Bank Limited will post 3.03 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the company. Weiss Ratings reiterated a “hold (c)” rating on shares of HDFC Bank in a report on Wednesday, October 8th. Zacks Research raised shares of HDFC Bank from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. Finally, Wall Street Zen upgraded shares of HDFC Bank from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. One investment analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, HDFC Bank currently has an average rating of “Moderate Buy”.

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.