Journey Strategic Wealth LLC Invests $229,000 in HDFC Bank Limited $HDB

Journey Strategic Wealth LLC bought a new position in HDFC Bank Limited (NYSE:HDB) during the second quarter, HoldingsChannel reports. The firm bought 2,992 shares of the bank’s stock, valued at approximately $229,000.

Other hedge funds have also recently made changes to their positions in the company. Franklin Resources Inc. grew its holdings in shares of HDFC Bank by 0.3% in the second quarter. Franklin Resources Inc. now owns 6,737,503 shares of the bank’s stock valued at $516,564,000 after acquiring an additional 21,706 shares in the last quarter. MAI Capital Management grew its stake in HDFC Bank by 776.2% in the 2nd quarter. MAI Capital Management now owns 4,276 shares of the bank’s stock worth $328,000 after buying an additional 3,788 shares in the last quarter. Personal CFO Solutions LLC increased its holdings in shares of HDFC Bank by 11.3% in the 2nd quarter. Personal CFO Solutions LLC now owns 3,843 shares of the bank’s stock worth $295,000 after buying an additional 390 shares during the last quarter. 17 Capital Partners LLC bought a new position in shares of HDFC Bank in the 2nd quarter worth $207,000. Finally, Portside Wealth Group LLC raised its position in shares of HDFC Bank by 3.6% during the 2nd quarter. Portside Wealth Group LLC now owns 9,340 shares of the bank’s stock valued at $716,000 after buying an additional 326 shares in the last quarter. 17.61% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

HDB has been the subject of a number of research analyst reports. Weiss Ratings reaffirmed a “hold (c)” rating on shares of HDFC Bank in a report on Wednesday, October 8th. Zacks Research upgraded HDFC Bank from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy”.

HDFC Bank Stock Down 0.7%

Shares of NYSE:HDB opened at $36.41 on Tuesday. The stock has a market cap of $185.74 billion, a PE ratio of 22.13, a PEG ratio of 1.92 and a beta of 0.69. The company’s fifty day moving average is $35.74 and its 200 day moving average is $36.73. HDFC Bank Limited has a 52 week low of $28.89 and a 52 week high of $39.81.

HDFC Bank (NYSE:HDB) last posted its quarterly earnings results on Saturday, October 18th. The bank reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.36 by $0.08. HDFC Bank had a net margin of 14.94% and a return on equity of 11.49%. The business had revenue of $4.95 billion during the quarter, compared to analyst estimates of $4.98 billion. Sell-side analysts anticipate that HDFC Bank Limited will post 3.03 EPS for the current year.

HDFC Bank Company Profile

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.