HDFC Bank Limited $HDB Shares Purchased by Coronation Fund Managers Ltd.

Coronation Fund Managers Ltd. raised its position in HDFC Bank Limited (NYSE:HDB) by 139.8% during the third quarter, HoldingsChannel reports. The firm owned 70,653 shares of the bank’s stock after purchasing an additional 41,194 shares during the period. Coronation Fund Managers Ltd.’s holdings in HDFC Bank were worth $2,414,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Murphy & Mullick Capital Management Corp lifted its stake in shares of HDFC Bank by 100.0% in the third quarter. Murphy & Mullick Capital Management Corp now owns 13,560 shares of the bank’s stock worth $463,000 after buying an additional 6,780 shares in the last quarter. Naviter Wealth LLC raised its holdings in HDFC Bank by 108.9% in the 3rd quarter. Naviter Wealth LLC now owns 84,267 shares of the bank’s stock valued at $2,879,000 after acquiring an additional 43,928 shares during the last quarter. Templeton & Phillips Capital Management LLC lifted its stake in HDFC Bank by 100.0% in the 3rd quarter. Templeton & Phillips Capital Management LLC now owns 273,510 shares of the bank’s stock worth $9,343,000 after purchasing an additional 136,755 shares in the last quarter. Freemont Capital Pte Ltd boosted its holdings in shares of HDFC Bank by 100.0% during the 3rd quarter. Freemont Capital Pte Ltd now owns 28,000 shares of the bank’s stock worth $956,000 after purchasing an additional 14,000 shares during the last quarter. Finally, Assetmark Inc. grew its position in shares of HDFC Bank by 484.1% in the third quarter. Assetmark Inc. now owns 4,124 shares of the bank’s stock valued at $141,000 after purchasing an additional 3,418 shares in the last quarter. Hedge funds and other institutional investors own 17.61% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on HDB. Wall Street Zen upgraded HDFC Bank from a “sell” rating to a “hold” rating in a research report on Friday, January 23rd. Weiss Ratings upgraded HDFC Bank from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, January 26th. Two research analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the stock has a consensus rating of “Hold”.

HDFC Bank Trading Down 1.2%

NYSE HDB opened at $32.47 on Friday. The stock has a fifty day simple moving average of $34.20 and a 200-day simple moving average of $35.44. The stock has a market cap of $165.65 billion, a PE ratio of 19.50, a P/E/G ratio of 1.32 and a beta of 0.57. HDFC Bank Limited has a twelve month low of $29.23 and a twelve month high of $39.81.

HDFC Bank (NYSE:HDB) last issued its quarterly earnings data on Tuesday, January 20th. The bank reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.04. The firm had revenue of $16.48 billion for the quarter, compared to analyst estimates of $5.12 billion. HDFC Bank had a net margin of 14.92% and a return on equity of 11.49%. Research analysts predict that HDFC Bank Limited will post 3.03 EPS for the current year.

HDFC Bank Company Profile

HDFC Bank Limited is one of India’s leading private sector banks, headquartered in Mumbai. Incorporated in 1994 and promoted by Housing Development Finance Corporation (HDFC), the bank provides a full range of banking and financial services to retail, small and medium-sized enterprises, and corporate customers. It is publicly listed and also accessible to international investors through American Depositary Receipts (ADRs) trading on the New York Stock Exchange under the symbol HDB.

The bank’s core activities include retail banking (deposit accounts, personal loans, home loans, auto loans, and credit cards), commercial and corporate banking (working capital finance, term lending, trade finance and treasury services), and transaction banking (cash management and payment solutions).