Meitav Investment House Ltd. Acquires 575,000 Shares of HDFC Bank Limited $HDB

Meitav Investment House Ltd. boosted its holdings in HDFC Bank Limited (NYSE:HDB) by 100.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,150,000 shares of the bank’s stock after buying an additional 575,000 shares during the period. Meitav Investment House Ltd.’s holdings in HDFC Bank were worth $39,177,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Whipplewood Advisors LLC lifted its holdings in HDFC Bank by 112.0% during the 2nd quarter. Whipplewood Advisors LLC now owns 549 shares of the bank’s stock worth $42,000 after purchasing an additional 290 shares in the last quarter. NewSquare Capital LLC grew its holdings in HDFC Bank by 136.4% during the 2nd quarter. NewSquare Capital LLC now owns 676 shares of the bank’s stock valued at $52,000 after buying an additional 390 shares in the last quarter. Assetmark Inc. increased its position in shares of HDFC Bank by 358.4% during the second quarter. Assetmark Inc. now owns 706 shares of the bank’s stock valued at $54,000 after buying an additional 552 shares during the period. Central Pacific Bank Trust Division lifted its holdings in shares of HDFC Bank by 100.0% in the third quarter. Central Pacific Bank Trust Division now owns 758 shares of the bank’s stock worth $26,000 after buying an additional 379 shares in the last quarter. Finally, Cary Street Partners Financial LLC bought a new position in shares of HDFC Bank in the second quarter valued at approximately $75,000. Institutional investors own 17.61% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on HDB shares. Zacks Research raised shares of HDFC Bank from a “strong sell” rating to a “hold” rating in a report on Monday, September 29th. Wall Street Zen lowered HDFC Bank from a “hold” rating to a “sell” rating in a research note on Saturday, January 3rd. Finally, Weiss Ratings cut HDFC Bank from a “hold (c-)” rating to a “sell (d+)” rating in a report on Monday, January 12th. One research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, HDFC Bank currently has a consensus rating of “Moderate Buy”.

HDFC Bank Stock Performance

NYSE:HDB opened at $32.66 on Friday. The firm has a market cap of $166.60 billion, a PE ratio of 19.85, a price-to-earnings-growth ratio of 1.32 and a beta of 0.57. HDFC Bank Limited has a fifty-two week low of $29.01 and a fifty-two week high of $39.81. The business has a 50 day moving average price of $35.57 and a 200-day moving average price of $36.19.

HDFC Bank (NYSE:HDB) last released its quarterly earnings data on Saturday, October 18th. The bank reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.36 by $0.08. The firm had revenue of $8.08 billion for the quarter, compared to analysts’ expectations of $4.98 billion. HDFC Bank had a net margin of 14.94% and a return on equity of 11.49%. Research analysts predict that HDFC Bank Limited will post 3.03 EPS for the current year.

About HDFC Bank

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).