Pin Oak Investment Advisors Inc. Buys 254 Shares of HDFC Bank Limited (NYSE:HDB)

Pin Oak Investment Advisors Inc. boosted its stake in shares of HDFC Bank Limited (NYSE:HDB) by 104.1% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 498 shares of the bank’s stock after purchasing an additional 254 shares during the quarter. Pin Oak Investment Advisors Inc.’s holdings in HDFC Bank were worth $31,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of HDFC Bank by 2,092.8% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 3,418,328 shares of the bank’s stock worth $213,851,000 after buying an additional 3,262,442 shares during the period. Manning & Napier Advisors LLC acquired a new stake in shares of HDFC Bank in the second quarter valued at about $166,709,000. PineStone Asset Management Inc. increased its stake in shares of HDFC Bank by 115.1% in the second quarter. PineStone Asset Management Inc. now owns 4,468,960 shares of the bank’s stock worth $287,488,000 after purchasing an additional 2,391,343 shares during the period. TPG GP A LLC acquired a new position in shares of HDFC Bank during the 2nd quarter worth about $95,637,000. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its stake in HDFC Bank by 130.2% during the 2nd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,185,500 shares of the bank’s stock valued at $140,593,000 after purchasing an additional 1,236,100 shares during the period. Institutional investors and hedge funds own 17.61% of the company’s stock.

Analyst Upgrades and Downgrades

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

HDFC Bank Stock Performance

Shares of HDB traded up $0.85 during trading hours on Thursday, reaching $67.50. 5,700,010 shares of the company traded hands, compared to its average volume of 3,009,986. HDFC Bank Limited has a 1-year low of $52.16 and a 1-year high of $67.76. The stock has a market cap of $170.93 billion, a P/E ratio of 20.52, a price-to-earnings-growth ratio of 1.78 and a beta of 0.91. The stock’s fifty day moving average is $63.26 and its 200 day moving average is $61.41. The company has a debt-to-equity ratio of 1.34, a quick ratio of 0.53 and a current ratio of 0.53.

HDFC Bank (NYSE:HDB) last posted its earnings results on Saturday, October 19th. The bank reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $4.84 billion. Equities research analysts anticipate that HDFC Bank Limited will post 3.15 earnings per share for the current fiscal year.

About HDFC Bank

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.