ABN AMRO Bank N.V. Makes New Investment in HDFC Bank Limited $HDB

ABN AMRO Bank N.V. bought a new position in HDFC Bank Limited (NYSE:HDB) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 24,000 shares of the bank’s stock, valued at approximately $817,000.

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

Analyst Ratings Changes

A number of analysts recently issued reports on HDB shares. Weiss Ratings raised HDFC Bank from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, January 26th. Wall Street Zen upgraded HDFC Bank from a “sell” rating to a “hold” rating in a research report on Friday, January 23rd. Two equities research analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company currently has a consensus rating of “Hold”.

HDFC Bank Stock Performance

Shares of HDB stock opened at $33.99 on Friday. The company has a market capitalization of $173.37 billion, a PE ratio of 20.41, a price-to-earnings-growth ratio of 1.38 and a beta of 0.57. HDFC Bank Limited has a 52-week low of $29.23 and a 52-week high of $39.81. The business’s fifty day moving average is $34.50 and its 200 day moving average is $35.69.

HDFC Bank (NYSE:HDB) last posted its earnings results on Tuesday, January 20th. The bank reported $0.43 EPS for the quarter, topping the consensus estimate of $0.39 by $0.04. The business had revenue of $16.48 billion during the quarter, compared to analysts’ expectations of $5.12 billion. HDFC Bank had a return on equity of 11.49% and a net margin of 14.92%. On average, sell-side analysts forecast that HDFC Bank Limited will post 3.03 EPS for the current fiscal 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).