Platform Technology Partners Acquires 518 Shares of HDFC Bank Limited (NYSE:HDB)

Platform Technology Partners boosted its holdings in shares of HDFC Bank Limited (NYSE:HDB) by 7.5% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 7,443 shares of the bank’s stock after acquiring an additional 518 shares during the period. Platform Technology Partners’ holdings in HDFC Bank were worth $475,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Glenmede Trust Co. NA grew its stake in shares of HDFC Bank by 3.6% during the third quarter. Glenmede Trust Co. NA now owns 4,807 shares of the bank’s stock worth $301,000 after purchasing an additional 167 shares during the period. Commerce Bank grew its position in shares of HDFC Bank by 7.0% during the 3rd quarter. Commerce Bank now owns 3,427 shares of the bank’s stock worth $214,000 after buying an additional 225 shares during the period. Pin Oak Investment Advisors Inc. increased its stake in shares of HDFC Bank by 104.1% in the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 498 shares of the bank’s stock valued at $31,000 after acquiring an additional 254 shares during the last quarter. Mount Yale Investment Advisors LLC raised its position in shares of HDFC Bank by 4.2% in the 3rd quarter. Mount Yale Investment Advisors LLC now owns 6,371 shares of the bank’s stock valued at $399,000 after acquiring an additional 257 shares during the period. Finally, Baron Wealth Management LLC boosted its stake in HDFC Bank by 3.7% during the 4th quarter. Baron Wealth Management LLC now owns 7,360 shares of the bank’s stock worth $470,000 after acquiring an additional 263 shares during the last quarter. Institutional investors own 17.61% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have commented on HDB. Nomura Securities raised shares of HDFC Bank from a “hold” rating to a “strong-buy” rating in a research note on Thursday, January 23rd. StockNews.com lowered shares of HDFC Bank from a “hold” rating to a “sell” rating in a report on Wednesday, November 27th. Finally, Nomura raised HDFC Bank from a “neutral” rating to a “buy” rating in a research note on Thursday, January 23rd.

HDFC Bank Price Performance

Shares of HDB opened at $61.22 on Friday. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.09 and a current ratio of 0.09. The firm has a market capitalization of $155.03 billion, a PE ratio of 18.61, a P/E/G ratio of 1.67 and a beta of 0.91. The stock has a 50 day simple moving average of $62.87 and a 200 day simple moving average of $62.37. HDFC Bank Limited has a 52-week low of $52.16 and a 52-week high of $68.50.

HDFC Bank (NYSE:HDB) last released its quarterly earnings results on Wednesday, January 22nd. The bank reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.74 by $0.08. HDFC Bank had a net margin of 14.64% and a return on equity of 12.19%. Sell-side analysts predict that HDFC Bank Limited will post 3.09 EPS for the current fiscal year.

HDFC Bank Company 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.