MAI Capital Management Has $328,000 Stock Position in HDFC Bank Limited $HDB

MAI Capital Management raised its stake in HDFC Bank Limited (NYSE:HDB) by 776.2% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,276 shares of the bank’s stock after purchasing an additional 3,788 shares during the period. MAI Capital Management’s holdings in HDFC Bank were worth $328,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Central Pacific Bank Trust Division bought a new position in shares of HDFC Bank during the second quarter valued at $29,000. Roxbury Financial LLC acquired a new position in shares of HDFC Bank during the second quarter valued at $30,000. Whipplewood Advisors LLC boosted its stake in shares of HDFC Bank by 112.0% in the 2nd quarter. Whipplewood Advisors LLC now owns 549 shares of the bank’s stock valued at $42,000 after purchasing an additional 290 shares during the last quarter. NewSquare Capital LLC grew its position in shares of HDFC Bank by 136.4% during the 2nd quarter. NewSquare Capital LLC now owns 676 shares of the bank’s stock worth $52,000 after buying an additional 390 shares during the period. Finally, Assetmark Inc. increased its stake in HDFC Bank by 358.4% in the second quarter. Assetmark Inc. now owns 706 shares of the bank’s stock valued at $54,000 after purchasing an additional 552 shares in the last quarter. 17.61% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on HDB shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of HDFC Bank in a research report on Wednesday, October 8th. Zacks Research raised HDFC Bank from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. One equities research 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 company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy”.

HDFC Bank Stock Up 1.3%

Shares of NYSE:HDB opened at $36.64 on Thursday. The business has a fifty day simple moving average of $35.78 and a 200 day simple moving average of $36.74. HDFC Bank Limited has a 12-month low of $28.89 and a 12-month high of $39.81. The firm has a market cap of $186.92 billion, a P/E ratio of 22.27, a P/E/G ratio of 1.92 and a beta of 0.69.

HDFC Bank (NYSE:HDB) last released its earnings results on Saturday, October 18th. The bank reported $0.44 EPS for the quarter, topping the consensus estimate of $0.36 by $0.08. HDFC Bank had a return on equity of 11.49% and a net margin of 14.94%.The business had revenue of $8.08 billion during the quarter, compared to analysts’ expectations of $4.98 billion. As a group, equities research analysts expect that HDFC Bank Limited will post 3.03 EPS for the current year.

HDFC Bank Company 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.