EverSource Wealth Advisors LLC Decreases Holdings in HDFC Bank Limited (NYSE:HDB)

EverSource Wealth Advisors LLC lowered its holdings in HDFC Bank Limited (NYSE:HDB) by 14.5% during the fourth quarter, HoldingsChannel reports. The fund owned 2,459 shares of the bank’s stock after selling 417 shares during the period. EverSource Wealth Advisors LLC’s holdings in HDFC Bank were worth $157,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Glenmede Trust Co. NA raised its stake in HDFC Bank by 3.6% during the 3rd quarter. Glenmede Trust Co. NA now owns 4,807 shares of the bank’s stock valued at $301,000 after acquiring an additional 167 shares during the last quarter. Waverton Investment Management Ltd grew its stake in shares of HDFC Bank by 1.0% in the 4th quarter. Waverton Investment Management Ltd now owns 19,963 shares of the bank’s stock valued at $1,275,000 after purchasing an additional 203 shares during the last quarter. Commerce Bank increased its holdings in shares of HDFC Bank by 7.0% in the third quarter. Commerce Bank now owns 3,427 shares of the bank’s stock valued at $214,000 after purchasing an additional 225 shares during the period. Pin Oak Investment Advisors Inc. raised its stake in shares of HDFC Bank by 104.1% during the third quarter. Pin Oak Investment Advisors Inc. now owns 498 shares of the bank’s stock worth $31,000 after purchasing an additional 254 shares during the last quarter. Finally, Baron Wealth Management LLC lifted its holdings in shares of HDFC Bank by 3.7% during the fourth quarter. Baron Wealth Management LLC now owns 7,360 shares of the bank’s stock worth $470,000 after purchasing an additional 263 shares during the period. Institutional investors and hedge funds own 17.61% of the company’s stock.

HDFC Bank Trading Up 1.6 %

NYSE:HDB opened at $61.66 on Tuesday. HDFC Bank Limited has a 1 year low of $54.07 and a 1 year 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. The stock has a fifty day moving average price of $60.00 and a two-hundred day moving average price of $62.43. The stock has a market capitalization of $156.13 billion, a price-to-earnings ratio of 18.74, a PEG ratio of 2.12 and a beta of 0.92.

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 net margin of 14.64% and a return on equity of 12.19%. As a group, sell-side analysts anticipate that HDFC Bank Limited will post 3.03 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on HDB. Nomura upgraded shares of HDFC Bank from a “neutral” rating to a “buy” rating in a research report on Thursday, January 23rd. StockNews.com cut shares of HDFC Bank from a “hold” rating to a “sell” rating in a report on Wednesday, November 27th. Finally, Nomura Securities upgraded shares of HDFC Bank from a “hold” rating to a “strong-buy” rating in a research report on Thursday, January 23rd.

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.