Lenox Wealth Management Inc. Has $4.64 Million Position in HDFC Bank Limited (NYSE:HDB)

Lenox Wealth Management Inc. grew its holdings in shares of HDFC Bank Limited (NYSE:HDB) by 90.2% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 81,383 shares of the bank’s stock after acquiring an additional 38,591 shares during the period. HDFC Bank accounts for approximately 1.3% of Lenox Wealth Management Inc.’s investment portfolio, making the stock its 16th biggest holding. Lenox Wealth Management Inc.’s holdings in HDFC Bank were worth $4,642,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Nkcfo LLC acquired a new stake in HDFC Bank during the 2nd quarter worth about $39,000. Manchester Financial Inc. acquired a new stake in HDFC Bank during the 2nd quarter worth about $51,000. Cubist Systematic Strategies LLC acquired a new stake in HDFC Bank during the 2nd quarter worth about $52,000. Advisors Preferred LLC acquired a new stake in HDFC Bank during the 2nd quarter worth about $53,000. Finally, Quest Capital Management Inc. ADV acquired a new stake in HDFC Bank during the 3rd quarter worth about $26,000. Hedge funds and other institutional investors own 10.18% of the company’s stock.

Shares of HDB stock traded down $0.46 during trading hours on Friday, hitting $61.81. 1,108,231 shares of the company were exchanged, compared to its average volume of 1,606,642. The firm has a fifty day simple moving average of $65.15 and a 200 day simple moving average of $104.74. The company has a current ratio of 0.96, a quick ratio of 0.96 and a debt-to-equity ratio of 0.64. HDFC Bank Limited has a 52-week low of $44.33 and a 52-week high of $65.89. The stock has a market capitalization of $112.83 billion, a price-to-earnings ratio of 37.23, a P/E/G ratio of 1.26 and a beta of 0.42.

Several analysts have recently commented on the company. Sanford C. Bernstein downgraded HDFC Bank from an “outperform” rating to a “market perform” rating in a research note on Monday, September 9th. Zacks Investment Research upgraded HDFC Bank from a “hold” rating to a “buy” rating and set a $66.00 target price for the company in a research note on Friday, October 25th. ValuEngine downgraded HDFC Bank from a “hold” rating to a “sell” rating in a research note on Friday, November 1st. Finally, Nomura upgraded HDFC Bank from a “neutral” rating to a “buy” rating in a research note on Tuesday, November 5th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $97.32.

About HDFC Bank

HDFC Bank Limited provides a range of banking and financial services to individuals and businesses in India, Bahrain, Hong Kong, and Dubai. The company operates in Treasury, Retail Banking, Wholesale Banking, and Other Banking Business segments. It accepts savings accounts, salary accounts, current accounts, fixed and recurring deposits, demat accounts, safe deposit lockers, and rural accounts, as well as offshore accounts and deposits.

Further Reading: Book Value Of Equity Per Share – BVPS Explained

Institutional Ownership by Quarter for HDFC Bank (NYSE:HDB)

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