HDFC Bank Limited $HDB Shares Acquired by Legacy Wealth Asset Management LLC

Legacy Wealth Asset Management LLC lifted its holdings in shares of HDFC Bank Limited (NYSE:HDB) by 102.1% during the third quarter, HoldingsChannel.com reports. The fund owned 61,264 shares of the bank’s stock after purchasing an additional 30,943 shares during the quarter. Legacy Wealth Asset Management LLC’s holdings in HDFC Bank were worth $2,093,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Central Pacific Bank Trust Division boosted its stake in HDFC Bank by 100.0% during the 3rd quarter. Central Pacific Bank Trust Division now owns 758 shares of the bank’s stock worth $26,000 after purchasing an additional 379 shares during the period. Roxbury Financial LLC purchased a new stake in shares of HDFC Bank in the second quarter valued at about $30,000. Whipplewood Advisors LLC boosted its stake in shares of 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 buying an additional 290 shares during the period. NewSquare Capital LLC grew its holdings in shares of HDFC Bank by 136.4% during the second quarter. NewSquare Capital LLC now owns 676 shares of the bank’s stock worth $52,000 after buying an additional 390 shares during the last quarter. Finally, Assetmark Inc. grew its holdings in shares of HDFC Bank by 358.4% during the second quarter. Assetmark Inc. now owns 706 shares of the bank’s stock worth $54,000 after buying an additional 552 shares during the last quarter. Hedge funds and other institutional investors own 17.61% of the company’s stock.

HDFC Bank Trading Up 2.2%

Shares of HDB opened at $35.92 on Monday. The stock’s 50 day moving average is $36.17 and its two-hundred day moving average is $36.60. HDFC Bank Limited has a twelve month low of $28.89 and a twelve month high of $39.81. The firm has a market capitalization of $183.25 billion, a PE ratio of 21.84, a P/E/G ratio of 1.62 and a beta of 0.58.

HDFC Bank (NYSE:HDB) last posted its quarterly earnings results on Saturday, October 18th. The bank reported $0.44 EPS for the quarter, beating the consensus estimate 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 $8.08 billion during the quarter, compared to analysts’ expectations of $4.98 billion. On average, sell-side analysts predict that HDFC Bank Limited will post 3.03 EPS for the current year.

Analyst Ratings Changes

A number of analysts have weighed in on HDB shares. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of HDFC Bank in a research report on Tuesday, December 16th. Wall Street Zen lowered HDFC Bank from a “hold” rating to a “sell” rating in a report on Friday, November 28th. Finally, Zacks Research raised HDFC Bank from a “strong sell” rating to a “hold” rating in a report 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 company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy”.

About HDFC Bank

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).