InTrack Investment Management Inc Buys 15,465 Shares of HDFC Bank Limited $HDB

InTrack Investment Management Inc boosted its holdings in HDFC Bank Limited (NYSE:HDB) by 230.5% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 22,173 shares of the bank’s stock after acquiring an additional 15,465 shares during the quarter. InTrack Investment Management Inc’s holdings in HDFC Bank were worth $757,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of HDB. Global Retirement Partners LLC increased its position in shares of HDFC Bank by 105.3% during the 3rd quarter. Global Retirement Partners LLC now owns 2,110 shares of the bank’s stock worth $72,000 after purchasing an additional 1,082 shares during the last quarter. JARISLOWSKY FRASER Ltd increased its holdings in HDFC Bank by 82.7% during the third quarter. JARISLOWSKY FRASER Ltd now owns 3,317,169 shares of the bank’s stock worth $113,314,000 after buying an additional 1,501,721 shares during the last quarter. Financiere des Professionnels Fonds d investissement inc. raised its position in HDFC Bank by 96.1% during the third quarter. Financiere des Professionnels Fonds d investissement inc. now owns 347,360 shares of the bank’s stock worth $11,866,000 after acquiring an additional 170,190 shares in the last quarter. Signaturefd LLC grew its holdings in HDFC Bank by 97.3% during the third quarter. Signaturefd LLC now owns 44,766 shares of the bank’s stock worth $1,529,000 after purchasing an additional 22,079 shares during the period. Finally, Western Pacific Wealth Management LP raised its stake in HDFC Bank by 100.0% in the third quarter. Western Pacific Wealth Management LP now owns 2,134 shares of the bank’s stock valued at $73,000 after buying an additional 1,067 shares during the period. Institutional investors and hedge funds own 17.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on HDB shares. Wall Street Zen lowered HDFC Bank from a “hold” rating to a “sell” rating in a report on Saturday. Zacks Research raised shares of HDFC Bank from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of HDFC Bank in a report on Monday, December 29th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, HDFC Bank has a consensus rating of “Moderate Buy”.

HDFC Bank Stock Down 0.2%

HDB stock opened at $36.46 on Friday. HDFC Bank Limited has a 12-month low of $28.89 and a 12-month high of $39.81. The company’s fifty day simple moving average is $36.21 and its 200 day simple moving average is $36.51. The firm has a market cap of $185.99 billion, a price-to-earnings ratio of 22.16, a PEG ratio of 1.64 and a beta of 0.57.

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

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).