Confluence Investment Management LLC Takes Position in HDFC Bank Limited (NYSE:HDB)

Confluence Investment Management LLC purchased a new position in shares of HDFC Bank Limited (NYSE:HDB) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 3,377 shares of the bank’s stock, valued at approximately $217,000.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Frazier Financial Advisors LLC acquired a new position in shares of HDFC Bank during the fourth quarter worth approximately $29,000. GAMMA Investing LLC bought a new position in shares of HDFC Bank in the fourth quarter valued at $33,000. Northwest Investment Counselors LLC acquired a new position in shares of HDFC Bank during the first quarter valued at about $34,000. Parkside Financial Bank & Trust increased its position in shares of HDFC Bank by 89.8% during the fourth quarter. Parkside Financial Bank & Trust now owns 615 shares of the bank’s stock worth $41,000 after acquiring an additional 291 shares in the last quarter. Finally, Janiczek Wealth Management LLC acquired a new stake in shares of HDFC Bank in the 1st quarter worth about $35,000. Institutional investors own 17.61% of the company’s stock.

HDFC Bank Stock Down 2.5 %

NYSE:HDB traded down $1.47 on Monday, hitting $58.53. The stock had a trading volume of 2,781,651 shares, compared to its average volume of 3,137,191. HDFC Bank Limited has a 1 year low of $52.16 and a 1 year high of $67.54. The firm’s fifty day simple moving average is $60.98 and its two-hundred day simple moving average is $57.78. The stock has a market cap of $108.86 billion, a P/E ratio of 18.40, a price-to-earnings-growth ratio of 1.66 and a beta of 0.93. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.51 and a current ratio of 0.51.

HDFC Bank (NYSE:HDB) last issued its quarterly earnings results on Monday, July 22nd. The bank reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.51 by $0.27. The business had revenue of $14.03 billion for the quarter, compared to analyst estimates of $4.81 billion. HDFC Bank had a return on equity of 12.64% and a net margin of 14.69%. Analysts predict that HDFC Bank Limited will post 2.88 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have issued reports on HDB. StockNews.com downgraded HDFC Bank from a “hold” rating to a “sell” rating in a research note on Thursday, June 13th. JPMorgan Chase & Co. lowered HDFC Bank from an “overweight” rating to a “neutral” rating in a research report on Monday, July 22nd.

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.