HDFC Bank Limited $HDB Shares Purchased by Value Partners Investments Inc.

Value Partners Investments Inc. increased its position in shares of HDFC Bank Limited (NYSE:HDB) by 100.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 294,084 shares of the bank’s stock after buying an additional 147,042 shares during the period. HDFC Bank accounts for 0.8% of Value Partners Investments Inc.’s holdings, making the stock its 21st biggest position. Value Partners Investments Inc.’s holdings in HDFC Bank were worth $10,041,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. New Vernon Capital Holdings II LLC purchased a new stake in shares of HDFC Bank during the 1st quarter worth about $1,546,956,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in HDFC Bank by 3,715.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 4,199,717 shares of the bank’s stock worth $279,029,000 after purchasing an additional 4,089,647 shares during the period. Royal Bank of Canada raised its holdings in HDFC Bank by 53.5% in the 1st quarter. Royal Bank of Canada now owns 11,214,711 shares of the bank’s stock worth $745,107,000 after purchasing an additional 3,907,637 shares during the period. CCLA Investment Management boosted its position in HDFC Bank by 104.2% during the third quarter. CCLA Investment Management now owns 4,352,450 shares of the bank’s stock worth $148,952,000 after purchasing an additional 2,221,419 shares in the last quarter. Finally, M&G PLC grew its holdings in HDFC Bank by 184.2% in the second quarter. M&G PLC now owns 3,407,929 shares of the bank’s stock valued at $262,411,000 after purchasing an additional 2,208,824 shares during the period. Hedge funds and other institutional investors own 17.61% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on HDB. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of HDFC Bank in a research note on Monday. Zacks Research upgraded shares of HDFC Bank from a “strong sell” rating to a “hold” rating in a research report on Monday, September 29th. Finally, Wall Street Zen downgraded shares of HDFC Bank from a “hold” rating to a “sell” rating in a report on Friday, November 28th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy”.

HDFC Bank Stock Performance

NYSE HDB opened at $36.27 on Wednesday. HDFC Bank Limited has a one year low of $28.89 and a one year high of $39.81. The business has a fifty day moving average price of $36.21 and a 200 day moving average price of $36.57. The company has a market cap of $185.01 billion, a P/E ratio of 22.05, a P/E/G ratio of 1.63 and a beta of 0.58.

HDFC Bank (NYSE:HDB) last issued its earnings results on Saturday, October 18th. The bank reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.36 by $0.08. The business had revenue of $8.08 billion during 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%. As a group, sell-side analysts predict that HDFC Bank Limited will post 3.03 EPS for the current fiscal year.

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).