Parallel Advisors LLC Buys 2,258 Shares of HDFC Bank Limited (NYSE:HDB)

Parallel Advisors LLC boosted its stake in shares of HDFC Bank Limited (NYSE:HDB) by 24.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,579 shares of the bank’s stock after buying an additional 2,258 shares during the quarter. Parallel Advisors LLC’s holdings in HDFC Bank were worth $739,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. Corient Private Wealth LLC grew its position in HDFC Bank by 15.6% during the fourth quarter. Corient Private Wealth LLC now owns 22,144 shares of the bank’s stock valued at $1,414,000 after buying an additional 2,996 shares during the period. Envestnet Portfolio Solutions Inc. lifted its holdings in HDFC Bank by 6.4% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 28,920 shares of the bank’s stock valued at $1,847,000 after purchasing an additional 1,729 shares during the last quarter. Brandes Investment Partners LP lifted its holdings in HDFC Bank by 5.6% during the fourth quarter. Brandes Investment Partners LP now owns 51,880 shares of the bank’s stock valued at $3,313,000 after purchasing an additional 2,759 shares during the last quarter. Zevin Asset Management LLC lifted its holdings in HDFC Bank by 7.2% during the fourth quarter. Zevin Asset Management LLC now owns 195,778 shares of the bank’s stock valued at $12,502,000 after purchasing an additional 13,092 shares during the last quarter. Finally, Madison Investment Advisors LLC purchased a new stake in HDFC Bank during the fourth quarter valued at about $4,811,000. Institutional investors own 17.61% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. StockNews.com downgraded shares of HDFC Bank from a “hold” rating to a “sell” rating in a report on Wednesday, November 27th. Nomura raised shares of HDFC Bank from a “neutral” rating to a “buy” rating in a report on Thursday, January 23rd. Finally, Nomura Securities raised shares of HDFC Bank from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 23rd.

HDFC Bank Trading Up 1.1 %

Shares of HDFC Bank stock opened at $63.85 on Friday. HDFC Bank Limited has a 12-month low of $54.07 and a 12-month high of $68.50. The company has a market cap of $161.67 billion, a price-to-earnings ratio of 19.41, a PEG ratio of 2.12 and a beta of 0.92. The company has a current ratio of 0.09, a quick ratio of 0.09 and a debt-to-equity ratio of 1.26. The company’s 50-day moving average price is $60.14 and its 200-day moving average price is $62.45.

HDFC Bank (NYSE:HDB) last announced its quarterly earnings results on Wednesday, January 22nd. The bank reported $0.82 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.74 by $0.08. HDFC Bank had a net margin of 14.64% and a return on equity of 12.19%. On average, equities analysts expect that HDFC Bank Limited will post 3.03 earnings per share for the current fiscal 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.