Norden Group LLC Raises Position in HDFC Bank Limited (NYSE:HDB)

Norden Group LLC raised its holdings in shares of HDFC Bank Limited (NYSE:HDB) by 6.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,691 shares of the bank’s stock after buying an additional 265 shares during the period. Norden Group LLC’s holdings in HDFC Bank were worth $300,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Whipplewood Advisors LLC purchased a new stake in HDFC Bank during the 4th quarter valued at about $29,000. Pin Oak Investment Advisors Inc. lifted its position in HDFC Bank by 104.1% in the third quarter. Pin Oak Investment Advisors Inc. now owns 498 shares of the bank’s stock valued at $31,000 after purchasing an additional 254 shares during the last quarter. Sierra Ocean LLC purchased a new stake in shares of HDFC Bank during the fourth quarter valued at approximately $42,000. Kestra Investment Management LLC bought a new position in shares of HDFC Bank in the fourth quarter worth approximately $60,000. Finally, RPg Family Wealth Advisory LLC purchased a new position in shares of HDFC Bank in the third quarter worth $65,000. 17.61% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

HDB has been the topic of several recent analyst reports. Nomura Securities raised HDFC Bank from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 23rd. StockNews.com lowered shares of HDFC Bank from a “hold” rating to a “sell” rating in a research note on Wednesday, November 27th. Finally, Nomura raised shares of HDFC Bank from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd.

HDFC Bank Price Performance

Shares of NYSE HDB opened at $59.78 on Wednesday. The company has a 50 day simple moving average of $60.69 and a two-hundred day simple moving average of $62.47. The company has a market capitalization of $151.37 billion, a price-to-earnings ratio of 18.17, a P/E/G ratio of 2.12 and a beta of 0.91. HDFC Bank Limited has a fifty-two week low of $54.07 and a fifty-two week high of $68.50. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.09 and a current ratio of 0.09.

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, beating analysts’ consensus estimates of $0.74 by $0.08. HDFC Bank had a return on equity of 12.19% and a net margin of 14.64%. Analysts expect that HDFC Bank Limited will post 3.03 EPS 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.