Parallel Advisors LLC Has $739,000 Position in HDFC Bank Limited (NYSE:HDB)

Parallel Advisors LLC lifted its stake in shares of HDFC Bank Limited (NYSE:HDB) by 24.2% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 11,579 shares of the bank’s stock after acquiring an additional 2,258 shares during the period. Parallel Advisors LLC’s holdings in HDFC Bank were worth $739,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Whipplewood Advisors LLC bought a new stake in HDFC Bank during the 4th quarter valued at $29,000. Pin Oak Investment Advisors Inc. increased its stake in HDFC Bank by 104.1% during the 3rd quarter. Pin Oak Investment Advisors Inc. now owns 498 shares of the bank’s stock valued at $31,000 after purchasing an additional 254 shares in the last quarter. Sierra Ocean LLC bought a new stake in HDFC Bank during the 4th quarter valued at $42,000. Kestra Investment Management LLC bought a new stake in HDFC Bank during the 4th quarter valued at $60,000. Finally, JFS Wealth Advisors LLC increased its stake in HDFC Bank by 52.6% during the 4th quarter. JFS Wealth Advisors LLC now owns 1,018 shares of the bank’s stock valued at $65,000 after purchasing an additional 351 shares in the last quarter. Institutional investors and hedge funds own 17.61% of the company’s stock.

Analyst Ratings Changes

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

HDFC Bank Stock Performance

NYSE HDB opened at $63.85 on Friday. HDFC Bank Limited has a 1 year low of $54.07 and a 1 year high of $68.50. 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 market cap of $161.67 billion, a price-to-earnings ratio of 19.41, a PEG ratio of 2.12 and a beta of 0.92. The company has a fifty day moving average price of $60.14 and a 200-day moving average price of $62.45.

HDFC Bank (NYSE:HDB) last posted its earnings results on Wednesday, January 22nd. The bank reported $0.82 earnings per share (EPS) for the quarter, topping 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%. As a group, equities research analysts predict that HDFC Bank Limited will post 3.03 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.