Renaissance Technologies LLC Buys Shares of 129,300 HDFC Bank Limited $HDB

Renaissance Technologies LLC bought a new position in HDFC Bank Limited (NYSE:HDB) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 129,300 shares of the bank’s stock, valued at approximately $3,217,000.

Several other hedge funds also recently modified their holdings of the business. KBC Group NV increased its position in HDFC Bank by 26.9% during the first quarter. KBC Group NV now owns 404,884 shares of the bank’s stock worth $10,074,000 after buying an additional 85,882 shares during the last quarter. M&T Bank Corp raised its holdings in HDFC Bank by 788.3% during the fourth quarter. M&T Bank Corp now owns 115,126 shares of the bank’s stock valued at $4,206,000 after buying an additional 102,166 shares in the last quarter. ABN Amro Investment Solutions lifted its position in shares of HDFC Bank by 66.0% in the first quarter. ABN Amro Investment Solutions now owns 1,498,938 shares of the bank’s stock worth $37,294,000 after buying an additional 595,912 shares during the last quarter. Matthews International Capital Management LLC lifted its position in shares of HDFC Bank by 58.3% in the fourth quarter. Matthews International Capital Management LLC now owns 343,916 shares of the bank’s stock worth $12,567,000 after buying an additional 126,650 shares during the last quarter. Finally, State of Michigan Retirement System boosted its stake in shares of HDFC Bank by 32.7% during the 4th quarter. State of Michigan Retirement System now owns 595,200 shares of the bank’s stock worth $21,749,000 after acquiring an additional 146,600 shares in the last quarter. Institutional investors and hedge funds own 17.61% of the company’s stock.

HDFC Bank Price Performance

HDB stock opened at $23.60 on Friday. HDFC Bank Limited has a 52-week low of $22.66 and a 52-week high of $38.01. The company has a 50-day moving average of $24.72 and a two-hundred day moving average of $27.05. The stock has a market capitalization of $120.41 billion, a price-to-earnings ratio of 13.88, a price-to-earnings-growth ratio of 1.11 and a beta of 0.65.

HDFC Bank (NYSE:HDB) last posted its quarterly earnings data on Saturday, July 18th. The bank reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.02. The business had revenue of $14.02 billion for the quarter, compared to analyst estimates of $5 billion. HDFC Bank had a return on equity of 11.84% and a net margin of 15.96%. Equities analysts expect that HDFC Bank Limited will post 1.67 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Wall Street Zen lowered HDFC Bank from a “hold” rating to a “sell” rating in a report on Saturday, July 18th. Zacks Research raised HDFC Bank from a “strong sell” rating to a “hold” rating in a research report on Friday, July 17th. Finally, Weiss Ratings upgraded HDFC Bank from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, July 20th. Two research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock presently has a consensus rating of “Hold”.

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).