Sumitomo Mitsui Trust Group Inc. Has $110.56 Million Stock Holdings in HDFC Bank Limited $HDB

Sumitomo Mitsui Trust Group Inc. lifted its stake in HDFC Bank Limited (NYSE:HDB) by 104.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 3,236,519 shares of the bank’s stock after acquiring an additional 1,651,391 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in HDFC Bank were worth $110,559,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Central Pacific Bank Trust Division boosted its position in HDFC Bank by 100.0% during the third quarter. Central Pacific Bank Trust Division now owns 758 shares of the bank’s stock valued at $26,000 after purchasing an additional 379 shares during the last quarter. Roxbury Financial LLC raised its stake in shares of HDFC Bank by 194.9% during the 3rd quarter. Roxbury Financial LLC now owns 1,162 shares of the bank’s stock worth $40,000 after purchasing an additional 768 shares in the last quarter. Whipplewood Advisors LLC boosted its holdings in shares of HDFC Bank by 112.0% in the 2nd quarter. Whipplewood Advisors LLC now owns 549 shares of the bank’s stock valued at $42,000 after buying an additional 290 shares during the last quarter. Park Place Capital Corp grew its stake in shares of HDFC Bank by 100.0% in the third quarter. Park Place Capital Corp now owns 1,426 shares of the bank’s stock valued at $49,000 after buying an additional 713 shares in the last quarter. Finally, NewSquare Capital LLC increased its holdings in HDFC Bank by 136.4% during the second quarter. NewSquare Capital LLC now owns 676 shares of the bank’s stock worth $52,000 after buying an additional 390 shares during the last quarter. Institutional investors own 17.61% of the company’s stock.

HDFC Bank Price Performance

NYSE:HDB opened at $33.16 on Wednesday. The company has a market cap of $169.19 billion, a P/E ratio of 20.16, a P/E/G ratio of 1.35 and a beta of 0.57. The firm’s fifty day moving average price is $35.76 and its two-hundred day moving average price is $36.29. HDFC Bank Limited has a one year low of $29.01 and a one year high of $39.81.

HDFC Bank (NYSE:HDB) last posted its earnings results on Saturday, October 18th. The bank reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.36 by $0.08. HDFC Bank had a net margin of 14.94% and a return on equity of 11.49%. The company had revenue of $8.08 billion during the quarter, compared to analysts’ expectations of $4.98 billion. As a group, equities research analysts expect that HDFC Bank Limited will post 3.03 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

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).