HDFC Bank Limited (NYSE:HDB) Position Boosted by First Horizon Advisors Inc.

First Horizon Advisors Inc. increased its holdings in HDFC Bank Limited (NYSE:HDB) by 10.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,543 shares of the bank’s stock after buying an additional 149 shares during the quarter. First Horizon Advisors Inc.’s holdings in HDFC Bank were worth $119,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of HDB. Janney Montgomery Scott LLC bought a new position in HDFC Bank in the 4th quarter worth approximately $223,000. Victory Capital Management Inc. acquired a new stake in HDFC Bank in the fourth quarter worth approximately $19,222,000. First Trust Advisors LP lifted its position in HDFC Bank by 6.9% in the fourth quarter. First Trust Advisors LP now owns 277,365 shares of the bank’s stock worth $20,042,000 after purchasing an additional 17,858 shares during the period. CIBC Asset Management Inc lifted its position in HDFC Bank by 18.4% in the fourth quarter. CIBC Asset Management Inc now owns 118,817 shares of the bank’s stock worth $8,586,000 after purchasing an additional 18,498 shares during the period. Finally, National Asset Management Inc. acquired a new stake in HDFC Bank in the fourth quarter worth approximately $324,000. 20.67% of the stock is owned by institutional investors and hedge funds.

Separately, Zacks Investment Research downgraded HDFC Bank from a “hold” rating to a “sell” rating in a research report on Wednesday, April 28th.

HDB opened at $77.24 on Friday. HDFC Bank Limited has a 1-year low of $40.61 and a 1-year high of $84.70. The business has a 50 day moving average price of $72.82. The firm has a market capitalization of $141.18 billion, a P/E ratio of 33.58, a price-to-earnings-growth ratio of 1.27 and a beta of 0.77. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.08 and a quick ratio of 0.39.

HDFC Bank (NYSE:HDB) last announced its quarterly earnings data on Friday, April 16th. The bank reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.60 by $0.03. HDFC Bank had a return on equity of 15.73% and a net margin of 20.43%. The company had revenue of $3.68 billion during the quarter. As a group, research analysts predict that HDFC Bank Limited will post 2.8 earnings per share for the current fiscal year.

About HDFC Bank

HDFC Bank Limited provides various banking and financial services to individuals and businesses in India, Bahrain, Hong Kong, and Dubai. It operates in Treasury, Retail Banking, Wholesale Banking, Other Banking Business, and Unallocated segments. The company accepts savings, salary, current, and Demat accounts; fixed and recurring deposits; and safe deposit lockers, and rural and pension accounts, as well as offshore accounts and deposits, overdrafts against fixed deposits and salaries, and sweep-in facilities.

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Institutional Ownership by Quarter for HDFC Bank (NYSE:HDB)

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