L & S Advisors Inc Acquires 27,348 Shares of HDFC Bank Limited $HDB

L & S Advisors Inc increased its holdings in HDFC Bank Limited (NYSE:HDB) by 126.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 48,925 shares of the bank’s stock after buying an additional 27,348 shares during the period. L & S Advisors Inc’s holdings in HDFC Bank were worth $1,671,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. NewEdge Advisors LLC lifted its position in shares of HDFC Bank by 8.6% during the 1st quarter. NewEdge Advisors LLC now owns 11,676 shares of the bank’s stock valued at $776,000 after acquiring an additional 922 shares during the period. Goldman Sachs Group Inc. raised its stake in HDFC Bank by 1.5% in the first quarter. Goldman Sachs Group Inc. now owns 883,855 shares of the bank’s stock valued at $58,723,000 after purchasing an additional 13,435 shares in the last quarter. Sivia Capital Partners LLC lifted its position in HDFC Bank by 24.5% during the second quarter. Sivia Capital Partners LLC now owns 7,840 shares of the bank’s stock worth $601,000 after purchasing an additional 1,541 shares during the period. Stratos Wealth Partners LTD. acquired a new stake in HDFC Bank during the second quarter worth about $1,244,000. Finally, Whittier Trust Co. grew its stake in HDFC Bank by 10.5% during the second quarter. Whittier Trust Co. now owns 22,820 shares of the bank’s stock worth $1,750,000 after buying an additional 2,165 shares in the last quarter. Institutional investors and hedge funds own 17.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on HDB shares. Wall Street Zen raised shares of HDFC Bank from a “sell” rating to a “hold” rating in a report on Friday, January 23rd. Weiss Ratings upgraded shares of HDFC Bank from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, January 26th. Two equities research analysts have rated the stock with a Hold rating, According to MarketBeat.com, HDFC Bank presently has an average rating of “Hold”.

HDFC Bank Price Performance

HDB stock opened at $33.33 on Thursday. The stock has a market cap of $170.02 billion, a price-to-earnings ratio of 20.02, a P/E/G ratio of 1.37 and a beta of 0.57. The company has a 50 day simple moving average of $34.06 and a 200 day simple moving average of $35.32. HDFC Bank Limited has a 1 year low of $29.23 and a 1 year high of $39.81.

HDFC Bank (NYSE:HDB) last posted its earnings results on Tuesday, January 20th. The bank reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.04. The firm had revenue of $16.48 billion for the quarter, compared to analysts’ expectations of $5.12 billion. HDFC Bank had a net margin of 14.92% and a return on equity of 11.49%. On average, equities research analysts anticipate that HDFC Bank Limited will post 3.03 EPS for the current fiscal year.

HDFC Bank Profile

HDFC Bank Limited is one of India’s leading private sector banks, headquartered in Mumbai. Incorporated in 1994 and promoted by Housing Development Finance Corporation (HDFC), the bank provides a full range of banking and financial services to retail, small and medium-sized enterprises, and corporate customers. It is publicly listed and also accessible to international investors through American Depositary Receipts (ADRs) trading on the New York Stock Exchange under the symbol HDB.

The bank’s core activities include retail banking (deposit accounts, personal loans, home loans, auto loans, and credit cards), commercial and corporate banking (working capital finance, term lending, trade finance and treasury services), and transaction banking (cash management and payment solutions).