23,850 Shares in HDFC Bank Limited $HDB Purchased by Virtus Advisers LLC

Virtus Advisers LLC bought a new stake in HDFC Bank Limited (NYSE:HDB) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 23,850 shares of the bank’s stock, valued at approximately $1,829,000. HDFC Bank comprises about 2.5% of Virtus Advisers LLC’s holdings, making the stock its 10th largest position.

Other institutional investors also recently bought and sold shares of the company. BNP Paribas Financial Markets boosted its holdings in HDFC Bank by 81.0% during the first quarter. BNP Paribas Financial Markets now owns 568,407 shares of the bank’s stock worth $37,765,000 after buying an additional 254,395 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in shares of HDFC Bank during the 1st quarter worth about $19,366,000. Immersion Capital LLP acquired a new stake in shares of HDFC Bank during the 1st quarter valued at about $19,753,000. Raiffeisen Bank International AG increased its stake in shares of HDFC Bank by 21.3% in the 1st quarter. Raiffeisen Bank International AG now owns 193,223 shares of the bank’s stock valued at $12,778,000 after purchasing an additional 33,983 shares in the last quarter. Finally, Freemont Capital Pte Ltd acquired a new position in HDFC Bank in the 2nd quarter worth about $1,073,000. 17.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on the company. Weiss Ratings reissued a “hold (c-)” rating on shares of HDFC Bank in a report on Friday. Zacks Research raised shares of HDFC Bank from a “strong sell” rating to a “hold” rating in a report on Monday, September 29th. Finally, Wall Street Zen cut shares of HDFC Bank from a “hold” rating to a “sell” rating in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

HDFC Bank Trading Up 0.5%

HDB stock opened at $36.82 on Monday. The firm has a 50-day moving average of $35.82 and a two-hundred day moving average of $36.75. HDFC Bank Limited has a 12 month low of $28.89 and a 12 month high of $39.81. The company has a market cap of $187.84 billion, a price-to-earnings ratio of 22.38, a PEG ratio of 1.92 and a beta of 0.69.

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 analysts’ consensus estimates of $0.36 by $0.08. HDFC Bank had a return on equity of 11.49% and a net margin of 14.94%.The business had revenue of $8.08 billion during the quarter, compared to analyst estimates of $4.98 billion. As a group, equities analysts forecast that HDFC Bank Limited will post 3.03 earnings per share 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.