Virtus Advisers LLC Invests $1.83 Million in HDFC Bank Limited $HDB

Virtus Advisers LLC purchased a new stake in shares of HDFC Bank Limited (NYSE:HDB) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 23,850 shares of the bank’s stock, valued at approximately $1,829,000. HDFC Bank accounts for approximately 2.5% of Virtus Advisers LLC’s holdings, making the stock its 10th biggest holding.

Several other hedge funds also recently added to or reduced their stakes in HDB. Financial Perspectives Inc increased its stake in HDFC Bank by 1.3% during the second quarter. Financial Perspectives Inc now owns 10,769 shares of the bank’s stock worth $826,000 after acquiring an additional 136 shares during the last quarter. Insigneo Advisory Services LLC lifted its stake in shares of HDFC Bank by 4.9% in the 2nd quarter. Insigneo Advisory Services LLC now owns 3,244 shares of the bank’s stock valued at $249,000 after purchasing an additional 152 shares during the last quarter. Huntington National Bank grew its holdings in shares of HDFC Bank by 13.3% during the 2nd quarter. Huntington National Bank now owns 1,349 shares of the bank’s stock worth $103,000 after purchasing an additional 158 shares during the period. Nisa Investment Advisors LLC increased its position in shares of HDFC Bank by 1.3% during the 2nd quarter. Nisa Investment Advisors LLC now owns 14,694 shares of the bank’s stock worth $1,127,000 after purchasing an additional 194 shares during the last quarter. Finally, Rehmann Capital Advisory Group increased its position in shares of HDFC Bank by 1.5% during the 2nd quarter. Rehmann Capital Advisory Group now owns 15,022 shares of the bank’s stock worth $1,152,000 after purchasing an additional 215 shares during the last quarter. 17.61% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Wall Street Zen cut shares of HDFC Bank from a “hold” rating to a “sell” rating in a research report on Friday. Zacks Research upgraded 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 Friday. One 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 company’s stock. According to MarketBeat, HDFC Bank has an average rating of “Moderate Buy”.

HDFC Bank Stock Performance

Shares of HDB opened at $36.82 on Monday. HDFC Bank Limited has a 1 year low of $28.89 and a 1 year high of $39.81. The stock has a market capitalization of $187.84 billion, a PE ratio of 22.38, a PEG ratio of 1.92 and a beta of 0.69. The stock has a 50-day simple moving average of $35.82 and a 200-day simple moving average of $36.75.

HDFC Bank (NYSE:HDB) last issued its earnings results on Saturday, October 18th. The bank reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.08. HDFC Bank had a net margin of 14.94% and a return on equity of 11.49%. The firm had revenue of $8.08 billion for the quarter, compared to analysts’ expectations of $4.98 billion. Analysts predict that HDFC Bank Limited will post 3.03 EPS for the current 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.