Advisors Asset Management Inc. Buys 33,711 Shares of HDFC Bank Limited $HDB

Advisors Asset Management Inc. grew its stake in shares of HDFC Bank Limited (NYSE:HDB) by 94.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 69,271 shares of the bank’s stock after purchasing an additional 33,711 shares during the quarter. Advisors Asset Management Inc.’s holdings in HDFC Bank were worth $2,366,000 at the end of the most recent quarter.

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

HDFC Bank Stock Down 1.2%

HDFC Bank stock opened at $32.47 on Monday. The company’s 50-day moving average price is $34.20 and its two-hundred day moving average price is $35.42. The stock has a market cap of $165.65 billion, a P/E ratio of 19.50, a P/E/G ratio of 1.32 and a beta of 0.57. HDFC Bank Limited has a twelve month low of $29.23 and a twelve month high of $39.81.

HDFC Bank (NYSE:HDB) last issued its quarterly earnings data on Tuesday, January 20th. The bank reported $0.43 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.04. HDFC Bank had a return on equity of 11.49% and a net margin of 14.92%.The company had revenue of $16.48 billion during the quarter, compared to analysts’ expectations of $5.12 billion. Equities analysts anticipate that HDFC Bank Limited will post 3.03 earnings per share for the current fiscal year.

Analyst Ratings Changes

HDB has been the subject of a number of research analyst reports. Wall Street Zen upgraded HDFC Bank from a “sell” rating to a “hold” rating in a report on Friday, January 23rd. Weiss Ratings raised HDFC Bank from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, January 26th. Two analysts have rated the stock with a Hold rating, According to data from MarketBeat, the company presently has an average rating of “Hold”.

HDFC Bank Company Profile

HDFC Bank Limited is one of India’s leading private sector banks, headquartered in Mumbai. Incorporated in 1994 and promoted by Housing Development Finance Corporation (HDFC), the bank provides a full range of banking and financial services to retail, small and medium-sized enterprises, and corporate customers. It is publicly listed and also accessible to international investors through American Depositary Receipts (ADRs) trading on the New York Stock Exchange under the symbol HDB.

The bank’s core activities include retail banking (deposit accounts, personal loans, home loans, auto loans, and credit cards), commercial and corporate banking (working capital finance, term lending, trade finance and treasury services), and transaction banking (cash management and payment solutions).