Commerce Bank Boosts Holdings in HDFC Bank Limited (NYSE:HDB)

Commerce Bank raised its holdings in HDFC Bank Limited (NYSE:HDB) by 7.0% during the 3rd quarter, Holdings Channel.com reports. The firm owned 3,427 shares of the bank’s stock after acquiring an additional 225 shares during the period. Commerce Bank’s holdings in HDFC Bank were worth $214,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of HDB. Ridgewood Investments LLC purchased a new stake in shares of HDFC Bank during the 2nd quarter worth about $36,000. Northwest Investment Counselors LLC purchased a new stake in shares of HDFC Bank during the 3rd quarter worth about $38,000. JFS Wealth Advisors LLC boosted its stake in shares of HDFC Bank by 70.2% during the 3rd quarter. JFS Wealth Advisors LLC now owns 667 shares of the bank’s stock worth $42,000 after acquiring an additional 275 shares in the last quarter. LRI Investments LLC purchased a new stake in shares of HDFC Bank during the 1st quarter worth about $56,000. Finally, GAMMA Investing LLC boosted its stake in shares of HDFC Bank by 56.0% during the 2nd quarter. GAMMA Investing LLC now owns 903 shares of the bank’s stock worth $58,000 after acquiring an additional 324 shares in the last quarter. 17.61% of the stock is owned by hedge funds and other institutional investors.

HDFC Bank Stock Up 1.3 %

HDB opened at $67.50 on Thursday. HDFC Bank Limited has a twelve month low of $52.16 and a twelve month high of $67.76. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 1.34. The company has a 50-day moving average price of $63.26 and a 200 day moving average price of $61.41. The company has a market cap of $170.93 billion, a PE ratio of 20.52, a price-to-earnings-growth ratio of 1.78 and a beta of 0.91.

HDFC Bank (NYSE:HDB) 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. Sell-side analysts expect that HDFC Bank Limited will post 3.15 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of HDFC Bank from a “hold” rating to a “sell” rating in a research note on Wednesday.

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.