HBK Sorce Advisory LLC Sells 1,089 Shares of HDFC Bank Limited (NYSE:HDB)

HBK Sorce Advisory LLC reduced its stake in HDFC Bank Limited (NYSE:HDB) by 20.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,177 shares of the bank’s stock after selling 1,089 shares during the quarter. HBK Sorce Advisory LLC’s holdings in HDFC Bank were worth $267,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Whipplewood Advisors LLC bought a new stake in HDFC Bank during the 4th quarter worth about $29,000. Pin Oak Investment Advisors Inc. lifted its position in HDFC Bank by 104.1% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 498 shares of the bank’s stock worth $31,000 after buying an additional 254 shares in the last quarter. Sierra Ocean LLC bought a new stake in HDFC Bank during the 4th quarter worth about $42,000. Kestra Investment Management LLC bought a new stake in HDFC Bank during the 4th quarter worth about $60,000. Finally, RPg Family Wealth Advisory LLC bought a new stake in HDFC Bank during the 3rd quarter worth about $65,000. 17.61% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on HDB. Nomura Securities upgraded shares of 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 upgraded shares of HDFC Bank from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd.

HDFC Bank Stock Up 1.1 %

Shares of HDB opened at $60.68 on Friday. HDFC Bank Limited has a 52 week low of $54.07 and a 52 week high of $68.50. The firm has a market cap of $153.66 billion, a P/E ratio of 18.44, a price-to-earnings-growth ratio of 2.12 and a beta of 0.92. The firm’s 50-day simple moving average is $60.00 and its 200 day simple moving average is $62.41. 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 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, analysts forecast that HDFC Bank Limited will post 3.03 earnings per share for the current 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.