Baird Financial Group Inc. Raises Stock Holdings in HDFC Bank Limited $HDB

Baird Financial Group Inc. lifted its holdings in shares of HDFC Bank Limited (NYSE:HDB) by 17.9% during the second quarter, HoldingsChannel.com reports. The fund owned 1,202,639 shares of the bank’s stock after purchasing an additional 182,211 shares during the quarter. Baird Financial Group Inc.’s holdings in HDFC Bank were worth $92,206,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Financial Perspectives Inc boosted its stake in HDFC Bank by 1.3% during the 2nd quarter. Financial Perspectives Inc now owns 10,769 shares of the bank’s stock worth $826,000 after purchasing an additional 136 shares during the period. Insigneo Advisory Services LLC raised its holdings in shares of HDFC Bank by 4.9% in the second quarter. Insigneo Advisory Services LLC now owns 3,244 shares of the bank’s stock valued at $249,000 after buying an additional 152 shares during the last quarter. Huntington National Bank raised its holdings in shares of HDFC Bank by 13.3% in the second quarter. Huntington National Bank now owns 1,349 shares of the bank’s stock valued at $103,000 after buying an additional 158 shares during the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of HDFC Bank by 1.3% during the second quarter. Nisa Investment Advisors LLC now owns 14,694 shares of the bank’s stock worth $1,127,000 after buying an additional 194 shares during the period. Finally, Rehmann Capital Advisory Group grew its holdings in shares of HDFC Bank by 1.5% during the second quarter. Rehmann Capital Advisory Group now owns 15,022 shares of the bank’s stock worth $1,152,000 after buying an additional 215 shares during the last quarter. 17.61% of the stock is owned by institutional investors and hedge funds.

HDFC Bank Trading Up 0.2%

Shares of HDB stock opened at $35.90 on Thursday. The stock has a 50 day simple moving average of $35.88 and a 200-day simple moving average of $36.74. The company has a market cap of $183.13 billion, a price-to-earnings ratio of 21.82, a price-to-earnings-growth ratio of 1.60 and a beta of 0.58. HDFC Bank Limited has a 12-month low of $28.89 and a 12-month high of $39.81.

HDFC Bank (NYSE:HDB) last announced its quarterly earnings data on Saturday, October 18th. The bank reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.36 by $0.08. The firm had revenue of $8.08 billion for the quarter, compared to analyst estimates of $4.98 billion. HDFC Bank had a return on equity of 11.49% and a net margin of 14.94%. On average, equities analysts forecast that HDFC Bank Limited will post 3.03 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have commented on HDB. Wall Street Zen downgraded HDFC Bank from a “hold” rating to a “sell” rating in a research note on Friday, November 28th. Weiss Ratings reiterated a “hold (c-)” rating on shares of HDFC Bank in a research note on Friday, November 28th. Finally, Zacks Research upgraded HDFC Bank from a “strong sell” rating to a “hold” rating in a research note on Monday, September 29th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy”.

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.