Sequoia Financial Advisors LLC Boosts Stock Holdings in HDFC Bank Limited $HDB

Sequoia Financial Advisors LLC boosted its position in HDFC Bank Limited (NYSE:HDB) by 116.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 73,853 shares of the bank’s stock after purchasing an additional 39,780 shares during the period. Sequoia Financial Advisors LLC’s holdings in HDFC Bank were worth $2,523,000 as of its most recent filing with the Securities & Exchange Commission.

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

HDFC Bank Trading Down 0.9%

Shares of HDB opened at $32.35 on Wednesday. HDFC Bank Limited has a 12-month low of $29.04 and a 12-month high of $39.81. The stock has a market cap of $165.03 billion, a P/E ratio of 19.43, a PEG ratio of 1.32 and a beta of 0.57. The company has a 50-day moving average of $35.42 and a two-hundred day moving average of $36.10.

HDFC Bank (NYSE:HDB) last released its quarterly earnings results on Tuesday, January 20th. The bank reported $0.43 EPS for the quarter, beating the consensus estimate of $0.39 by $0.04. HDFC Bank had a net margin of 14.92% and a return on equity of 11.06%. The business had revenue of $16.48 billion for the quarter, compared to analyst estimates of $5.12 billion. As a group, analysts forecast that HDFC Bank Limited will post 3.03 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on HDB. Zacks Research upgraded shares of HDFC Bank from a “strong sell” rating to a “hold” rating in a report on Monday, September 29th. Wall Street Zen lowered shares of HDFC Bank from a “hold” rating to a “sell” rating in a research report on Saturday, January 3rd. Finally, Weiss Ratings downgraded shares of HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Monday, January 12th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy”.

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).