Integrity Alliance LLC. Acquires Shares of 9,350 HDFC Bank Limited $HDB

Integrity Alliance LLC. acquired a new stake in HDFC Bank Limited (NYSE:HDB) in the 2nd quarter, according to its most recent disclosure with the SEC. The fund acquired 9,350 shares of the bank’s stock, valued at approximately $717,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Central Pacific Bank Trust Division acquired a new position in HDFC Bank in the 2nd quarter valued at $29,000. Roxbury Financial LLC acquired a new position in shares of HDFC Bank during the 2nd quarter worth $30,000. Larson Financial Group LLC raised its holdings in shares of HDFC Bank by 1,217.1% during the 1st quarter. Larson Financial Group LLC now owns 461 shares of the bank’s stock worth $31,000 after buying an additional 426 shares in the last quarter. Whipplewood Advisors LLC raised its stake in HDFC Bank by 112.0% during the second quarter. Whipplewood Advisors LLC now owns 549 shares of the bank’s stock worth $42,000 after acquiring an additional 290 shares in the last quarter. Finally, Cullen Frost Bankers Inc. raised its stake in HDFC Bank by 448.7% during the first quarter. Cullen Frost Bankers Inc. now owns 620 shares of the bank’s stock worth $41,000 after acquiring an additional 507 shares in the last quarter. 17.61% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have commented on HDB. Wall Street Zen raised HDFC Bank from a “sell” rating to a “hold” rating in a research note on Saturday, July 26th. Weiss Ratings reissued a “hold (c)” rating on shares of HDFC Bank in a research note on Wednesday, October 8th. Finally, Zacks Research raised HDFC Bank from a “strong sell” rating to a “hold” rating in a research note on Monday, September 29th. 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 company. Based on data from MarketBeat, HDFC Bank presently has an average rating of “Moderate Buy”.

HDFC Bank Stock Down 1.9%

Shares of HDB opened at $36.19 on Friday. HDFC Bank Limited has a 12-month low of $28.89 and a 12-month high of $39.81. The business has a 50-day simple moving average of $35.45 and a two-hundred day simple moving average of $36.71. The stock has a market cap of $184.60 billion, a PE ratio of 22.00, a PEG ratio of 1.92 and a beta of 0.63.

HDFC Bank (NYSE:HDB) last issued its 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 return on equity of 11.49% and a net margin of 14.94%.The business had revenue of $4.95 billion during the quarter, compared to analysts’ expectations of $4.98 billion. On average, equities research analysts expect that HDFC Bank Limited will post 3.03 EPS 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.