Empirical Asset Management LLC Makes New Investment in HDFC Bank Limited (NYSE:HDB)

Empirical Asset Management LLC acquired a new stake in HDFC Bank Limited (NYSE:HDB) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 29,271 shares of the bank’s stock, valued at approximately $1,869,000.

A number of other large investors have also made changes to their positions in the stock. Pin Oak Investment Advisors Inc. raised its stake in HDFC Bank by 104.1% in the 3rd 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. Northwest Investment Counselors LLC acquired a new stake in HDFC Bank during the third quarter worth approximately $38,000. JFS Wealth Advisors LLC grew its stake in HDFC Bank by 70.2% in the 3rd quarter. JFS Wealth Advisors LLC now owns 667 shares of the bank’s stock worth $42,000 after acquiring an additional 275 shares during the period. RPg Family Wealth Advisory LLC acquired a new position in HDFC Bank in the 3rd quarter valued at $65,000. Finally, GAMMA Investing LLC lifted its stake in shares of HDFC Bank by 34.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,215 shares of the bank’s stock worth $76,000 after purchasing an additional 312 shares during the period. Institutional investors and hedge funds own 17.61% of the company’s stock.

Wall Street Analyst Weigh In

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

HDFC Bank Stock Down 0.4 %

Shares of HDB opened at $58.39 on Friday. HDFC Bank Limited has a fifty-two week low of $52.16 and a fifty-two week high of $68.50. The company’s fifty day moving average is $64.13 and its two-hundred day moving average is $62.61. The firm has a market cap of $147.87 billion, a PE ratio of 17.75, a price-to-earnings-growth ratio of 1.67 and a beta of 0.92. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 1.34.

HDFC Bank (NYSE:HDB) last issued 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. The firm had revenue of $9.21 billion for the quarter, compared to analysts’ expectations of $4.84 billion. HDFC Bank had a return on equity of 12.49% and a net margin of 14.48%. Analysts forecast that HDFC Bank Limited will post 3.13 earnings per share for the current 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.