140,779 HDFC Bank Limited $HDB Shares Acquired by Pzena Investment Management LLC

Pzena Investment Management LLC grew its holdings in HDFC Bank Limited (NYSE:HDB) by 8.7% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,754,255 shares of the bank’s stock after buying an additional 140,779 shares during the quarter. Pzena Investment Management LLC’s holdings in HDFC Bank were worth $39,190,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of HDB. Elliott Investment Management L.P. raised its position in HDFC Bank by 267.7% in the first quarter. Elliott Investment Management L.P. now owns 797,085 shares of the bank’s stock worth $19,831,000 after acquiring an additional 580,329 shares in the last quarter. KBC Group NV lifted its holdings in HDFC Bank by 26.9% in the first quarter. KBC Group NV now owns 404,884 shares of the bank’s stock valued at $10,074,000 after acquiring an additional 85,882 shares during the period. ABN Amro Investment Solutions lifted its holdings in HDFC Bank by 66.0% in the first quarter. ABN Amro Investment Solutions now owns 1,498,938 shares of the bank’s stock valued at $37,294,000 after acquiring an additional 595,912 shares during the period. Raiffeisen Bank International AG boosted its position in shares of HDFC Bank by 999.2% during the 2nd quarter. Raiffeisen Bank International AG now owns 756,000 shares of the bank’s stock worth $19,588,000 after purchasing an additional 687,223 shares in the last quarter. Finally, XY Capital Ltd boosted its position in shares of HDFC Bank by 143.5% during the 2nd quarter. XY Capital Ltd now owns 517,975 shares of the bank’s stock worth $13,379,000 after purchasing an additional 305,215 shares in the last quarter. 17.61% of the stock is currently owned by hedge funds and other institutional investors.

HDFC Bank Stock Performance

Shares of HDB stock opened at $24.35 on Thursday. The stock has a fifty day moving average price of $22.68 and a 200 day moving average price of $25.74. The stock has a market cap of $124.96 billion, a PE ratio of 13.92, a P/E/G ratio of 1.27 and a beta of 0.64. HDFC Bank Limited has a 1 year low of $21.36 and a 1 year high of $37.35.

HDFC Bank (NYSE:HDB) last posted its earnings results on Saturday, October 17th. The bank reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.02. HDFC Bank had a return on equity of 11.70% and a net margin of 15.84%. The company had revenue of $8.20 billion for the quarter, compared to analyst estimates of $4.95 billion. As a group, equities research analysts predict that HDFC Bank Limited will post 1.65 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. The Goldman Sachs Group began coverage on shares of HDFC Bank in a research note on Friday, August 21st. They set a “buy” rating on the stock. Zacks Research upgraded shares of HDFC Bank from a “strong sell” rating to a “hold” rating in a research note on Friday, July 17th. HSBC downgraded shares of HDFC Bank from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $30.80 to $26.10 in a report on Monday, August 31st. Wall Street Zen upgraded shares of HDFC Bank from a “sell” rating to a “hold” rating in a research report on Saturday, October 24th. Finally, Weiss Ratings cut shares of HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, September 25th. One research analyst has rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $26.10.

About HDFC Bank

HDFC Bank Limited is an Indian banking and financial services company headquartered in Mumbai, India. Established in 1994, the bank provides services to individuals, businesses, corporations and institutions through a broad network of physical branches, ATMs and digital banking channels.

Its principal offerings include savings and current accounts, deposits, personal and home loans, vehicle and consumer financing, business and commercial lending, credit and debit cards, payments, investment and wealth-management services, and foreign-exchange and treasury products.