L & S Advisors Inc Takes Position in HDFC Bank Limited $HDB

L & S Advisors Inc bought a new stake in shares of HDFC Bank Limited (NYSE:HDB) during the 2nd quarter, according to its most recent filing with the SEC. The firm bought 21,577 shares of the bank’s stock, valued at approximately $1,654,000.

A number of other hedge funds also recently made changes to their positions in the company. ABN Amro Investment Solutions purchased a new position in shares of HDFC Bank in the second quarter valued at $8,014,000. Calamos Advisors LLC boosted its position in HDFC Bank by 59.4% in the 2nd quarter. Calamos Advisors LLC now owns 33,266 shares of the bank’s stock valued at $2,551,000 after buying an additional 12,396 shares during the last quarter. Milestone Resources Group Ltd acquired a new stake in shares of HDFC Bank during the second quarter valued at about $52,490,000. M&G PLC increased its position in shares of HDFC Bank by 184.2% during the second quarter. M&G PLC now owns 3,407,929 shares of the bank’s stock worth $262,411,000 after acquiring an additional 2,208,824 shares during the last quarter. Finally, Boston Partners acquired a new position in shares of HDFC Bank in the second quarter worth about $107,961,000. Hedge funds and other institutional investors own 17.61% of the company’s stock.

HDFC Bank Price Performance

HDB stock opened at $36.39 on Friday. The firm has a market cap of $185.64 billion, a price-to-earnings ratio of 22.12, a PEG ratio of 1.92 and a beta of 0.69. HDFC Bank Limited has a 1-year low of $28.89 and a 1-year high of $39.81. The firm has a fifty day moving average price of $35.56 and a two-hundred day moving average price of $36.71.

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, topping analysts’ consensus estimates of $0.36 by $0.08. HDFC Bank had a net margin of 14.94% and a return on equity of 11.49%. The company had revenue of $4.95 billion for the quarter, compared to the consensus estimate of $4.98 billion. As a group, analysts expect that HDFC Bank Limited will post 3.03 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Wall Street Zen raised HDFC Bank from a “sell” rating to a “hold” rating in a research report on Saturday, July 26th. Zacks Research raised shares of HDFC Bank from a “strong sell” rating to a “hold” rating in a report on Monday, September 29th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of HDFC Bank in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy”.

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.