MML Investors Services LLC Grows Position in HDFC Bank Limited (NYSE:HDB)

MML Investors Services LLC increased its position in shares of HDFC Bank Limited (NYSE:HDB) by 37.9% in the third quarter, Holdings Channel.com reports. The firm owned 46,266 shares of the bank’s stock after purchasing an additional 12,723 shares during the quarter. MML Investors Services LLC’s holdings in HDFC Bank were worth $2,894,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Citigroup Inc. boosted its stake in shares of HDFC Bank by 21.1% during the 3rd quarter. Citigroup Inc. now owns 1,143,853 shares of the bank’s stock worth $71,559,000 after purchasing an additional 199,582 shares during the period. Zurich Insurance Group Ltd FI boosted its position in HDFC Bank by 34.7% in the 3rd quarter. Zurich Insurance Group Ltd FI now owns 137,015 shares of the bank’s stock valued at $8,572,000 after buying an additional 35,291 shares during the period. Tokio Marine Asset Management Co. Ltd. boosted its position in HDFC Bank by 13.4% in the 3rd quarter. Tokio Marine Asset Management Co. Ltd. now owns 241,600 shares of the bank’s stock valued at $15,114,000 after buying an additional 28,500 shares during the period. Northwest & Ethical Investments L.P. boosted its position in HDFC Bank by 42.2% in the 3rd quarter. Northwest & Ethical Investments L.P. now owns 34,100 shares of the bank’s stock valued at $2,133,000 after buying an additional 10,127 shares during the period. Finally, Verition Fund Management LLC purchased a new stake in HDFC Bank in the 3rd quarter valued at about $997,000. 17.61% of the stock is owned by hedge funds and other institutional investors.

HDFC Bank Price Performance

HDFC Bank stock opened at $67.00 on Friday. The stock has a market cap of $169.66 billion, a price-to-earnings ratio of 20.36, a price-to-earnings-growth ratio of 1.79 and a beta of 0.92. The company has a debt-to-equity ratio of 1.34, a current ratio of 0.53 and a quick ratio of 0.53. HDFC Bank Limited has a 1 year low of $52.16 and a 1 year high of $68.50. The firm has a 50-day moving average of $64.05 and a two-hundred day moving average of $62.30.

HDFC Bank (NYSE:HDB) last posted its quarterly earnings results on Saturday, October 19th. The bank reported $0.85 EPS for the quarter, beating the consensus estimate of $0.76 by $0.09. HDFC Bank had a net margin of 14.48% and a return on equity of 12.49%. The business had revenue of $9.21 billion during the quarter, compared to analyst estimates of $4.84 billion. On average, research analysts forecast that HDFC Bank Limited will post 3.15 earnings per share for the current year.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of HDFC Bank from a “hold” rating to a “sell” rating in a research report on Wednesday, November 27th.

HDFC Bank Company 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.