Vident Advisory LLC Purchases 16,889 Shares of HDFC Bank Limited (NYSE:HDB)

Vident Advisory LLC increased its position in HDFC Bank Limited (NYSE:HDB) by 47.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 52,490 shares of the bank’s stock after purchasing an additional 16,889 shares during the period. Vident Advisory LLC’s holdings in HDFC Bank were worth $3,352,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of HDB. Whipplewood Advisors LLC bought a new position in HDFC Bank in the 4th quarter worth about $29,000. Graney & King LLC bought a new position in HDFC Bank during the 4th quarter valued at about $38,000. Brown Brothers Harriman & Co. lifted its stake in HDFC Bank by 63.7% during the 4th quarter. Brown Brothers Harriman & Co. now owns 617 shares of the bank’s stock valued at $39,000 after acquiring an additional 240 shares during the period. Sierra Ocean LLC bought a new position in HDFC Bank during the 4th quarter valued at about $42,000. Finally, Atlas Capital Advisors Inc. bought a new position in HDFC Bank during the 4th quarter valued at about $56,000. Institutional investors own 17.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Nomura upgraded shares of HDFC Bank from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd. Nomura Securities upgraded shares of HDFC Bank from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 23rd. Finally, StockNews.com upgraded shares of HDFC Bank from a “sell” rating to a “hold” rating in a research note on Wednesday, May 14th.

HDFC Bank Price Performance

NYSE HDB opened at $73.03 on Wednesday. HDFC Bank Limited has a 52 week low of $55.00 and a 52 week high of $75.37. The firm has a market capitalization of $184.93 billion, a P/E ratio of 22.20, a PEG ratio of 2.12 and a beta of 0.63. The company has a quick ratio of 0.09, a current ratio of 0.09 and a debt-to-equity ratio of 1.26. The company has a 50-day moving average price of $68.79 and a 200-day moving average price of $64.60.

HDFC Bank (NYSE:HDB) last released its earnings results on Saturday, April 19th. The bank reported $0.85 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.74 by $0.11. The company had revenue of $5.04 billion during the quarter, compared to analyst estimates of $434.68 billion. HDFC Bank had a net margin of 14.64% and a return on equity of 12.19%. Equities research analysts anticipate that HDFC Bank Limited will post 3.03 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.