Quadrant Capital Group LLC Raises Position in HDFC Bank Limited $HDB

Quadrant Capital Group LLC lifted its position in HDFC Bank Limited (NYSE:HDB) by 139.1% during the second quarter, HoldingsChannel.com reports. The fund owned 69,478 shares of the bank’s stock after acquiring an additional 40,416 shares during the period. Quadrant Capital Group LLC’s holdings in HDFC Bank were worth $5,327,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Central Pacific Bank Trust Division purchased a new stake in shares of HDFC Bank during the second quarter worth $29,000. Roxbury Financial LLC purchased a new stake in HDFC Bank during the 2nd quarter valued at about $30,000. Whipplewood Advisors LLC raised its holdings in 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 acquiring an additional 290 shares during the last quarter. NewSquare Capital LLC lifted its stake in HDFC Bank by 136.4% in the 2nd quarter. NewSquare Capital LLC now owns 676 shares of the bank’s stock worth $52,000 after purchasing an additional 390 shares in the last quarter. Finally, Assetmark Inc. lifted its stake in HDFC Bank by 358.4% in the 2nd quarter. Assetmark Inc. now owns 706 shares of the bank’s stock worth $54,000 after purchasing an additional 552 shares in the last quarter. Hedge funds and other institutional investors own 17.61% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on HDB. Zacks Research upgraded shares of HDFC Bank from a “strong sell” rating to a “hold” rating in a report on Monday, September 29th. Weiss Ratings restated a “hold (c)” rating on shares of HDFC Bank in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, HDFC Bank currently has a consensus rating of “Moderate Buy”.

HDFC Bank Trading Up 1.3%

Shares of HDFC Bank stock opened at $36.64 on Thursday. The company 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 stock has a market cap of $186.92 billion, a price-to-earnings ratio of 22.27, a PEG ratio of 1.92 and a beta of 0.69.

HDFC Bank (NYSE:HDB) last issued its quarterly earnings data on Saturday, October 18th. The bank reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.36 by $0.08. HDFC Bank had a net margin of 14.94% and a return on equity of 11.49%. The company had revenue of $8.08 billion for the quarter, compared to the consensus estimate of $4.98 billion. On average, analysts forecast that HDFC Bank Limited will post 3.03 earnings per share for the current fiscal year.

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.