Congress Wealth Management LLC DE Has $1.16 Million Position in HDFC Bank Limited (NYSE:HDB)

Congress Wealth Management LLC DE trimmed its holdings in HDFC Bank Limited (NYSE:HDB) by 11.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,173 shares of the bank’s stock after selling 2,263 shares during the quarter. Congress Wealth Management LLC DE’s holdings in HDFC Bank were worth $1,161,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also added to or reduced their stakes in the company. Thrivent Financial for Lutherans boosted its position in shares of HDFC Bank by 105.1% during the third quarter. Thrivent Financial for Lutherans now owns 6,503 shares of the bank’s stock valued at $407,000 after buying an additional 3,333 shares during the last quarter. Commerce Bank boosted its holdings in 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 acquiring an additional 225 shares during the last quarter. Cerity Partners LLC boosted its holdings in HDFC Bank by 53.4% during the 3rd quarter. Cerity Partners LLC now owns 64,710 shares of the bank’s stock worth $4,048,000 after acquiring an additional 22,523 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of HDFC Bank by 62.6% in the third quarter. Daiwa Securities Group Inc. now owns 3,846 shares of the bank’s stock valued at $241,000 after purchasing an additional 1,481 shares during the last quarter. Finally, Bank of Montreal Can lifted its position in shares of HDFC Bank by 44.0% during the third quarter. Bank of Montreal Can now owns 79,026 shares of the bank’s stock valued at $5,085,000 after purchasing an additional 24,159 shares in the last quarter. Institutional investors and hedge funds own 17.61% of the company’s stock.

Analysts Set New Price Targets

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

HDFC Bank Stock Performance

NYSE HDB opened at $66.72 on Friday. The company has a market capitalization of $168.94 billion, a PE ratio of 20.28, a price-to-earnings-growth ratio of 2.12 and a beta of 0.92. The company has a debt-to-equity ratio of 1.26, a quick ratio of 0.09 and a current ratio of 0.09. HDFC Bank Limited has a 52-week low of $54.99 and a 52-week high of $68.50. The company has a 50-day simple moving average of $60.85 and a 200 day simple moving average of $62.61.

HDFC Bank (NYSE:HDB) last issued its quarterly 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%. On average, research analysts predict that HDFC Bank Limited will post 3.03 EPS for the current year.

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.