Ninety One North America Inc. Has $6.84 Million Stock Position in HDFC Bank Limited $HDB

Ninety One North America Inc. raised its position in HDFC Bank Limited (NYSE:HDB) by 76.9% in the third quarter, HoldingsChannel reports. The fund owned 200,150 shares of the bank’s stock after purchasing an additional 86,988 shares during the quarter. Ninety One North America Inc.’s holdings in HDFC Bank were worth $6,837,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Central Pacific Bank Trust Division lifted its holdings in shares of HDFC Bank by 100.0% in the 3rd quarter. Central Pacific Bank Trust Division now owns 758 shares of the bank’s stock worth $26,000 after purchasing an additional 379 shares in the last quarter. Roxbury Financial LLC bought a new stake in HDFC Bank during the 2nd quarter valued at $30,000. Whipplewood Advisors LLC raised its holdings in HDFC Bank by 112.0% during the second quarter. Whipplewood Advisors LLC now owns 549 shares of the bank’s stock worth $42,000 after buying an additional 290 shares during the last quarter. NewSquare Capital LLC lifted its stake in shares of HDFC Bank by 136.4% in the second 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. Finally, Assetmark Inc. lifted its stake in shares of HDFC Bank by 358.4% in the second quarter. Assetmark Inc. now owns 706 shares of the bank’s stock valued at $54,000 after buying an additional 552 shares in the last quarter. Institutional investors own 17.61% of the company’s stock.

HDFC Bank Price Performance

Shares of NYSE:HDB opened at $36.54 on Thursday. The company has a market capitalization of $186.41 billion, a PE ratio of 22.21, a price-to-earnings-growth ratio of 1.64 and a beta of 0.58. HDFC Bank Limited has a 1 year low of $28.89 and a 1 year high of $39.81. The business has a fifty day moving average price of $36.21 and a two-hundred day moving average price of $36.52.

HDFC Bank (NYSE:HDB) last posted its quarterly earnings results on Saturday, October 18th. The bank reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.36 by $0.08. The company had revenue of $8.08 billion during the quarter, compared to analyst estimates of $4.98 billion. HDFC Bank had a net margin of 14.94% and a return on equity of 11.49%. Sell-side analysts anticipate that HDFC Bank Limited will post 3.03 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently commented on HDB. Zacks Research raised shares of HDFC Bank from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. Weiss Ratings reissued a “hold (c-)” rating on shares of HDFC Bank in a report on Monday. Finally, Wall Street Zen downgraded HDFC Bank from a “hold” rating to a “sell” rating in a research note on Friday, November 28th. One analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy”.

HDFC Bank 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).