GeoWealth Management LLC Buys 1,280 Shares of HDFC Bank Limited (NYSE:HDB)

GeoWealth Management LLC raised its stake in HDFC Bank Limited (NYSE:HDB) by 37.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,688 shares of the bank’s stock after acquiring an additional 1,280 shares during the period. GeoWealth Management LLC’s holdings in HDFC Bank were worth $299,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the stock. FIL Ltd grew its holdings in shares of HDFC Bank by 17.5% in the 4th quarter. FIL Ltd now owns 17,467,131 shares of the bank’s stock worth $1,115,451,000 after purchasing an additional 2,599,337 shares during the last quarter. GQG Partners LLC grew its stake in HDFC Bank by 74.4% during the fourth quarter. GQG Partners LLC now owns 7,883,347 shares of the bank’s stock worth $503,431,000 after buying an additional 3,364,114 shares during the last quarter. FMR LLC grew its stake in HDFC Bank by 13.3% during the fourth quarter. FMR LLC now owns 7,793,113 shares of the bank’s stock worth $497,668,000 after buying an additional 914,289 shares during the last quarter. Schroder Investment Management Group increased its holdings in shares of HDFC Bank by 82.1% during the fourth quarter. Schroder Investment Management Group now owns 7,008,828 shares of the bank’s stock worth $447,584,000 after buying an additional 3,160,533 shares in the last quarter. Finally, Franklin Resources Inc. raised its stake in shares of HDFC Bank by 1.7% in the fourth quarter. Franklin Resources Inc. now owns 6,917,816 shares of the bank’s stock valued at $441,772,000 after acquiring an additional 113,988 shares during the last quarter. 17.61% of the stock is currently owned by institutional investors and hedge funds.

HDFC Bank Stock Performance

Shares of HDFC Bank stock opened at $75.19 on Wednesday. The company has a debt-to-equity ratio of 1.26, a current ratio of 0.09 and a quick ratio of 0.09. The firm has a 50 day simple moving average of $63.84 and a 200 day simple moving average of $63.20. HDFC Bank Limited has a fifty-two week low of $54.99 and a fifty-two week high of $75.37. The firm has a market cap of $190.41 billion, a P/E ratio of 22.85, a P/E/G ratio of 2.12 and a beta of 0.68.

HDFC Bank (NYSE:HDB) last released its earnings results on Saturday, April 19th. The bank reported $0.85 EPS for the quarter, beating the consensus estimate of $0.74 by $0.11. HDFC Bank had a return on equity of 12.19% and a net margin of 14.64%. The company had revenue of $5.04 billion during the quarter, compared to analysts’ expectations of $434.68 billion. Sell-side analysts predict that HDFC Bank Limited will post 3.03 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

HDB has been the subject of a number of recent analyst reports. Nomura Securities raised HDFC Bank from a “hold” rating to a “strong-buy” rating in a report on Thursday, January 23rd. Nomura upgraded HDFC Bank from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd.

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.