Tobam Buys 35,388 Shares of HDFC Bank Limited $HDB

Tobam raised its stake in HDFC Bank Limited (NYSE:HDB) by 105.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 68,835 shares of the bank’s stock after purchasing an additional 35,388 shares during the period. Tobam’s holdings in HDFC Bank were worth $2,351,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of the company. Central Pacific Bank Trust Division grew its position 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 buying an additional 379 shares during the last quarter. Parkside Financial Bank & Trust boosted its stake in HDFC Bank by 54.5% in the third quarter. Parkside Financial Bank & Trust now owns 913 shares of the bank’s stock valued at $31,000 after acquiring an additional 322 shares in the last quarter. J.Safra Asset Management Corp grew its holdings in HDFC Bank by 100.0% in the third quarter. J.Safra Asset Management Corp now owns 1,020 shares of the bank’s stock worth $35,000 after purchasing an additional 510 shares during the last quarter. Roxbury Financial LLC increased its position in shares of HDFC Bank by 194.9% during the third 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. Finally, Whipplewood Advisors LLC increased its position in shares of 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 purchasing an additional 290 shares in the last quarter. 17.61% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on HDB. Wall Street Zen raised HDFC Bank from a “sell” rating to a “hold” rating in a research report on Friday, January 23rd. Weiss Ratings raised HDFC Bank from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, January 26th. Two investment analysts have rated the stock with a Hold rating, Based on data from MarketBeat, the company has an average rating of “Hold”.

HDFC Bank Price Performance

Shares of HDB stock opened at $32.47 on Monday. The business has a fifty day moving average of $34.20 and a 200 day moving average of $35.42. HDFC Bank Limited has a 1 year low of $29.23 and a 1 year high of $39.81. The firm has a market capitalization of $165.65 billion, a price-to-earnings ratio of 19.50, a price-to-earnings-growth ratio of 1.32 and a beta of 0.57.

HDFC Bank (NYSE:HDB) last announced its quarterly earnings data on Tuesday, January 20th. The bank reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.04. HDFC Bank had a return on equity of 11.49% and a net margin of 14.92%.The business had revenue of $16.48 billion for the quarter, compared to analyst estimates of $5.12 billion. As a group, equities research analysts expect that HDFC Bank Limited will post 3.03 earnings per share for the current 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).