21,577 Shares in HDFC Bank Limited $HDB Bought by L & S Advisors Inc

L & S Advisors Inc bought a new position in HDFC Bank Limited (NYSE:HDB) during the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 21,577 shares of the bank’s stock, valued at approximately $1,654,000.

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

Analyst Ratings Changes

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

HDFC Bank Stock Performance

HDB opened at $36.39 on Friday. The company has a market capitalization of $185.64 billion, a PE ratio of 22.12, a P/E/G ratio of 1.92 and a beta of 0.69. The stock’s fifty day moving average is $35.56 and its 200-day moving average is $36.71. HDFC Bank Limited has a one year low of $28.89 and a one year high of $39.81.

HDFC Bank (NYSE:HDB) last released 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 firm had revenue of $4.95 billion for the quarter, compared to analyst estimates of $4.98 billion. On average, equities research analysts forecast that HDFC Bank Limited will post 3.03 EPS for the current fiscal year.

HDFC Bank 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.