Marks Group Wealth Management Inc Has $1.12 Million Stock Holdings in HDFC Bank Limited (NYSE:HDB)

Marks Group Wealth Management Inc lowered its holdings in shares of HDFC Bank Limited (NYSE:HDB) by 18.9% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 17,523 shares of the bank’s stock after selling 4,074 shares during the period. Marks Group Wealth Management Inc’s holdings in HDFC Bank were worth $1,119,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Trinity Street Asset Management LLP boosted its position in HDFC Bank by 7.4% in the fourth quarter. Trinity Street Asset Management LLP now owns 3,674,300 shares of the bank’s stock valued at $234,641,000 after buying an additional 252,600 shares in the last quarter. Citigroup Inc. boosted its holdings in shares of HDFC Bank by 21.1% during the 3rd quarter. Citigroup Inc. now owns 1,143,853 shares of the bank’s stock valued at $71,559,000 after acquiring an additional 199,582 shares in the last quarter. Nomura Asset Management Co. Ltd. grew its position in HDFC Bank by 60.1% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 316,974 shares of the bank’s stock worth $19,830,000 after acquiring an additional 119,050 shares during the last quarter. Zurich Insurance Group Ltd FI increased its holdings in HDFC Bank by 34.7% in the 3rd quarter. Zurich Insurance Group Ltd FI now owns 137,015 shares of the bank’s stock worth $8,572,000 after purchasing an additional 35,291 shares in the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. raised its position in HDFC Bank by 13.4% in the third quarter. Tokio Marine Asset Management Co. Ltd. now owns 241,600 shares of the bank’s stock valued at $15,114,000 after purchasing an additional 28,500 shares during the last quarter. 17.61% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on HDB shares. StockNews.com cut HDFC Bank from a “hold” rating to a “sell” rating in a report on Wednesday, November 27th. Nomura Securities raised shares of HDFC Bank from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 23rd. Finally, Nomura raised shares of HDFC Bank from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd.

HDFC Bank Trading Down 0.6 %

Shares of HDB stock opened at $60.29 on Thursday. The stock has a 50-day moving average of $62.52 and a 200-day moving average of $62.41. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 1.26. The stock has a market cap of $152.67 billion, a price-to-earnings ratio of 18.33, a PEG ratio of 1.70 and a beta of 0.91. HDFC Bank Limited has a 1-year low of $52.16 and a 1-year high of $68.50.

HDFC Bank (NYSE:HDB) last released its quarterly earnings results on Wednesday, January 22nd. The bank reported $0.82 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.08. HDFC Bank had a net margin of 14.64% and a return on equity of 12.19%. On average, equities research analysts forecast that HDFC Bank Limited will post 3.09 earnings per share 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.