L & S Advisors Inc Makes New $1.84 Million Investment in HDFC Bank Limited (NYSE:HDB)

L & S Advisors Inc acquired a new stake in HDFC Bank Limited (NYSE:HDB) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund acquired 28,610 shares of the bank’s stock, valued at approximately $1,840,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Frazier Financial Advisors LLC acquired a new stake in HDFC Bank during the fourth quarter worth approximately $29,000. Northwest Investment Counselors LLC acquired a new stake in HDFC Bank during the first quarter worth about $34,000. Janiczek Wealth Management LLC bought a new position in HDFC Bank in the 1st quarter valued at about $35,000. Ridgewood Investments LLC acquired a new position in shares of HDFC Bank in the 2nd quarter valued at approximately $36,000. Finally, LRI Investments LLC bought a new stake in shares of HDFC Bank during the 1st quarter worth approximately $56,000. Institutional investors and hedge funds own 17.61% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on HDB. StockNews.com downgraded HDFC Bank from a “hold” rating to a “sell” rating in a report on Thursday, June 13th. JPMorgan Chase & Co. downgraded shares of HDFC Bank from an “overweight” rating to a “neutral” rating in a research note on Monday, July 22nd.

HDFC Bank Stock Up 0.4 %

HDFC Bank stock opened at $62.85 on Tuesday. The firm has a market cap of $116.90 billion, a price-to-earnings ratio of 19.28, a PEG ratio of 1.63 and a beta of 0.92. HDFC Bank Limited has a 52-week low of $52.16 and a 52-week high of $67.44. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.51 and a current ratio of 0.51. The firm has a 50 day moving average price of $60.50 and a two-hundred day moving average price of $59.08.

HDFC Bank (NYSE:HDB) last released its earnings results on Monday, July 22nd. The bank reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.51 by $0.27. HDFC Bank had a net margin of 14.69% and a return on equity of 12.64%. The business had revenue of $14.03 billion for the quarter, compared to analyst estimates of $4.81 billion. Equities analysts predict that HDFC Bank Limited will post 2.97 EPS for the current 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.