Truist Financial Corp Raises Position in HDFC Bank Limited (NYSE:HDB)

Truist Financial Corp increased its holdings in HDFC Bank Limited (NYSE:HDB – Get Rating) by 11.5% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 57,484 shares of the bank’s stock after buying an additional 5,912 shares during the period. Truist Financial Corp’s holdings in HDFC Bank were worth $3,358,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Urban Wealth Management LLC purchased a new stake in HDFC Bank during the second quarter valued at about $27,000. Heritage Wealth Management LLC purchased a new stake in HDFC Bank during the second quarter valued at about $33,000. Newbridge Financial Services Group Inc. raised its position in HDFC Bank by 130.1% during the third quarter. Newbridge Financial Services Group Inc. now owns 711 shares of the bank’s stock valued at $42,000 after purchasing an additional 402 shares in the last quarter. Parkwood LLC raised its position in HDFC Bank by 53.3% during the second quarter. Parkwood LLC now owns 102,874 shares of the bank’s stock valued at $103,000 after purchasing an additional 35,749 shares in the last quarter. Finally, SeaCrest Wealth Management LLC purchased a new stake in HDFC Bank during the second quarter valued at about $105,000. Hedge funds and other institutional investors own 17.50% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com began coverage on HDFC Bank in a research report on Wednesday, October 12th. They set a “hold” rating on the stock.

HDFC Bank Stock Up 1.2 %

HDB opened at $67.52 on Friday. The company has a market cap of $124.81 billion, a P/E ratio of 23.12, a P/E/G ratio of 1.18 and a beta of 0.80. The business’s 50-day moving average price is $68.00 and its 200-day moving average price is $63.30. The company has a current ratio of 0.35, a quick ratio of 0.35 and a debt-to-equity ratio of 0.96. HDFC Bank Limited has a 12 month low of $50.61 and a 12 month high of $72.20.

HDFC Bank (NYSE:HDB – Get Rating) last released its quarterly earnings data on Monday, October 17th. The bank reported $0.75 EPS for the quarter, topping the consensus estimate of $0.70 by $0.05. The firm had revenue of $3.87 billion for the quarter, compared to the consensus estimate of $3.60 billion. HDFC Bank had a return on equity of 16.60% and a net margin of 23.11%. On average, equities analysts expect that HDFC Bank Limited will post 2.89 EPS for the current year.

About HDFC Bank

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HDFC Bank Limited provides banking and financial services to individuals and businesses in India, Bahrain, Hong Kong, and Dubai. It operates in Treasury, Retail Banking, Wholesale Banking, Other Banking Business, and Unallocated segments. The company 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, overdrafts against fixed deposits, and sweep-in facilities.