Vestmark Advisory Solutions Inc. Increases Stock Position in HDFC Bank Limited (NYSE:HDB)

Posted by on Apr 1st, 2023

Vestmark Advisory Solutions Inc. lifted its holdings in HDFC Bank Limited (NYSE:HDB – Get Rating) by 50.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 33,328 shares of the bank’s stock after purchasing an additional 11,206 shares during the period. Vestmark Advisory Solutions Inc.’s holdings in HDFC Bank were worth $2,280,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of HDB. Heritage Wealth Management LLC bought a new position in shares of HDFC Bank during the 2nd quarter worth approximately $33,000. Penserra Capital Management LLC bought a new position in shares of HDFC Bank during the 3rd quarter worth approximately $35,000. Trustcore Financial Services LLC bought a new position in shares of HDFC Bank during the 3rd quarter worth approximately $37,000. PenderFund Capital Management Ltd. bought a new position in shares of HDFC Bank during the 3rd quarter worth approximately $55,000. Finally, Newbridge Financial Services Group Inc. raised its stake in shares of HDFC Bank by 130.1% during the 3rd quarter. Newbridge Financial Services Group Inc. now owns 711 shares of the bank’s stock worth $42,000 after acquiring an additional 402 shares in the last quarter. Hedge funds and other institutional investors own 17.50% of the company’s stock.

HDFC Bank Trading Up 0.9 %

Shares of HDFC Bank stock opened at $66.67 on Friday. The company has a current ratio of 0.36, a quick ratio of 0.36 and a debt-to-equity ratio of 0.79. HDFC Bank Limited has a 12-month low of $50.61 and a 12-month high of $71.76. The firm has a market capitalization of $123.24 billion, a price-to-earnings ratio of 22.30, a PEG ratio of 1.30 and a beta of 0.75. The firm’s 50 day simple moving average is $66.68 and its two-hundred day simple moving average is $65.59.

HDFC Bank (NYSE:HDB – Get Rating) last issued its quarterly earnings results on Saturday, January 14th. The bank reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.82 by $0.01. HDFC Bank had a net margin of 22.90% and a return on equity of 16.86%. The business had revenue of $4.09 billion for the quarter, compared to analyst estimates of $3.69 billion. Analysts predict that HDFC Bank Limited will post 2.91 EPS for the current year.

Analyst Ratings Changes

Separately, StockNews.com started coverage on shares of HDFC Bank in a research note on Thursday, March 16th. They set a “hold” rating for the company.

HDFC Bank Company Profile

(Get Rating)

HDFC Bank Ltd. engages in the provision of banking and financial services, including commercial banking and treasury operations. The firm also provides financial services to upper and middle income individuals and corporations in India. It operates through the following segments: Treasury, Retail Banking, Wholesale Banking and Other Banking Operations.

See Also

Institutional Ownership by Quarter for HDFC Bank (NYSE:HDB)

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