Ballentine Partners LLC Grows Holdings in HDFC Bank Limited (NYSE:HDB)

Ballentine Partners LLC grew its holdings in shares of HDFC Bank Limited (NYSE:HDB) by 14.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,676 shares of the bank’s stock after buying an additional 3,441 shares during the quarter. Ballentine Partners LLC’s holdings in HDFC Bank were worth $1,704,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Diversify Wealth Management LLC boosted its stake in shares of HDFC Bank by 7.8% during the 4th quarter. Diversify Wealth Management LLC now owns 4,970 shares of the bank’s stock valued at $291,000 after buying an additional 358 shares during the last quarter. Artemis Investment Management LLP boosted its stake in shares of HDFC Bank by 7.3% during the 4th quarter. Artemis Investment Management LLP now owns 12,262 shares of the bank’s stock valued at $783,000 after buying an additional 829 shares during the last quarter. Aaron Wealth Advisors LLC boosted its stake in shares of HDFC Bank by 20.9% during the 4th quarter. Aaron Wealth Advisors LLC now owns 7,668 shares of the bank’s stock valued at $490,000 after buying an additional 1,324 shares during the last quarter. HB Wealth Management LLC purchased a new position in shares of HDFC Bank during the 4th quarter valued at approximately $233,000. Finally, Canoe Financial LP boosted its stake in shares of HDFC Bank by 17.6% during the 4th quarter. Canoe Financial LP now owns 339,190 shares of the bank’s stock valued at $21,661,000 after buying an additional 50,792 shares during the last quarter. 17.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com cut HDFC Bank from a “hold” rating to a “sell” rating in a research note on Wednesday, November 27th.

HDFC Bank Stock Performance

Shares of HDB opened at $58.90 on Wednesday. The business’s fifty day moving average price is $63.90 and its 200 day moving average price is $62.45. HDFC Bank Limited has a 12-month low of $52.16 and a 12-month high of $68.50. The stock has a market capitalization of $149.16 billion, a PE ratio of 17.90, a price-to-earnings-growth ratio of 1.66 and a beta of 0.92. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.53 and a quick ratio of 0.53.

HDFC Bank (NYSE:HDB) last announced its quarterly earnings data on Saturday, October 19th. The bank reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.09. HDFC Bank had a return on equity of 12.49% and a net margin of 14.48%. The firm had revenue of $9.21 billion for the quarter, compared to analysts’ expectations of $4.84 billion. Equities research analysts forecast that HDFC Bank Limited will post 3.13 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.